Iwasaki, Ichiro and Kocenda, Evzen and Shida, Yoshisada (2021) Distressed acquisitions: Evidence from European emerging markets. JOURNAL OF COMPARATIVE ECONOMICS, 49 (4). pp. 962-990. ISSN 0147-5967, 1095-7227
Full text not available from this repository. (Request a copy)Abstract
We analyze factors behind 23,213 distressed acquisitions in European emerging markets from 2007 to 2019. Besides the impact of financial ratios, legal form, ownership structure, firm size, and age, we emphasize the role of institutions and channels of their propagation. We show that the quality and enforcement of insolvency laws are linked with the lower probability of distressed acquisitions, followed by corruption control and progress in banking reforms. The impact of institutions is larger in less-advanced countries as compared to economically stronger ones. The effect of institutions increased after the financial crisis but declined as the economic situation improved.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | FIRM SURVIVAL; INSTITUTIONS; OWNERSHIP; MERGERS; GROWTH; ENTREPRENEURSHIP; PERFORMANCE; PROPERTY; Distressed acquisitions; Mergers; European emerging markets |
| Subjects: | 300 Social sciences > 330 Economics |
| Divisions: | Institute for East and Southeast European Studies (IESES) |
| Depositing User: | Dr. Gernot Deinzer |
| Date Deposited: | 13 Sep 2022 07:58 |
| Last Modified: | 13 Sep 2022 07:58 |
| URI: | https://pred.uni-regensburg.de/id/eprint/47895 |
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