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dc.coverage.spatialMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degreeseng
dc.creatorCortés, Lina M.spa
dc.creatorAgudelo, Diego A.spa
dc.creatorMongrut, Samuelspa
dc.date.available2013-03-20T16:48:08Z
dc.date.issued2012-12-15
dc.identifier.urihttp://hdl.handle.net/10784/658
dc.descriptionThis paper contributes to the current literature of mergers and acquisitions (M&As) by studying the existence of waves and the determinants of M&A activity in the economies of Argentina, Brazil, Chile, Colombia, Mexico and Peru. From a sample of 2,490 M&As announcements reported by Thomson One for these countries, and applying the methodology proposed by Harford (2005), evidence of M&A waves is found for the periods 1993-2002 and 2003-2010 as reported for other regions in various international studies. After controlling for economic and business environment variables, as well as for profitability and book-to-market variables at industry level, we find evidence in favor of the neoclassical theory as a main explanation for M&As, but not for the misvaluation effect. For this purpose, a Prais-Winsten data model with panel corrected standard errors (PCSE) is used, and the results are confirmed through a negative binomial panel data estimation.eng
dc.language.isoengeng
dc.publisherUniversidad EAFITspa
dc.rightsinfo:eu-repo/semantics/openAccess
dc.titleWaves and determinants in the activity of Mergers and Acquisitions: The Case of Latin Americaeng
dc.typeinfo:eu-repo/semantics/workingPaper
dc.typeworkingPapereng
dc.rights.accessRightsopenAccesseng
dc.publisher.departmentEscuela de Economía y Finanzasspa
dc.type.spaDocumento de trabajo de investigaciónspa
dc.subject.keywordMergers and Acquisitionseng
dc.subject.keywordMergers and Acquisitions Waveseng
dc.subject.keywordLatin American Economicseng
dc.subject.keywordPCSEeng
dc.subject.keywordCounting Modelseng
dc.rights.accesoLibre accesospa
dc.date.accessioned2013-03-20T16:48:08Z
dc.type.hasVersiondrafeng
dc.creator.emaillcortesd@eafit.edu.cospa
dc.creator.emaildagudelo@eafit.edu.cospa
dc.creator.emailsmongrut@itesm.mxspa
dc.identifier.jelC23, G34, K21


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