Abstract
The objective of this study is to analyze the nature and implications of changes in the number of Mergers and Acquisitions bids pertaining to Indo-US and Indo-Europe cross-border deals, on a pre-and post-sub-prime crisis basis. These numbers are correlated with ϒij (gamma-ness of trade). There was a decline in ϒij in 2009, for the said geographies, reflecting the impact of sub-prime crisis. The bids increased in the post-crisis period only for Indo-US Mergers & Acquisitions, where India was the target. The F value is solid when the acquirer is India and the target is either USA or Europe.
Highlights
The global economic milieu since the turn of the century has been one of liberalization and financial deregulation
The aim of the study is to analyze the number of Mergers and Acquisition (M & A) bids, with respect to geographies such as USA and Europe
A measure named Υij, constructed by the authors, was employed in this study. It is a variant of ∅ij, used by Bertrand et al [2]
Summary
The global economic milieu since the turn of the century has been one of liberalization and financial deregulation. The year 200405 is co-terminus with the discernible liberal phase in Indian policy regime towards outbound Foreign Direct Investment (FDI) and the concomitant boom in foreign acquisitions by Indian firms. The borders across geographies are increasingly becoming blurred, especially in this Internet era (post-1995), notwithstanding the differences along cultural, administrative, geographic and economic dimensions. This is attributable to the developments in Information, Communication and Technology (ICT) sector
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