Original paper
Foreign direct investment in emerging markets and acquirers’ value gains
Abstract
We investigate the shareholder wealth effects of 306 foreign direct investment (FDI) announcements by UK firms in seventy-five emerging markets (EM). Our results show that acquirers enjoy highly significant gains during the announcement period of FDI. Perhaps surprisingly, the highest gains are accrued to acquirers investing in countries with high political risk and high corruption ratings. The type of asset acquired has also a significant...
Paper Details
Title
Foreign direct investment in emerging markets and acquirers’ value gains
Published Date
Jun 1, 2014
Volume
23
Issue
3
Pages
604 - 619
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