A comparative study of cross-border mergers and acquisitions by privately- and state-owned enterprises

Q3 Social Sciences

International Journal of Public Policy Pub Date : 2017-08-25 DOI:10.1504/IJPP.2017.10006457

Michael Gestrin

引用次数: 0

Abstract

This paper empirically examines the proposition that SOE and POE cross-border investments are different. It does so by comparing all M&A by SOEs and POEs (with a value greater than USD 5 million) undertaken between 1 January 1996 and 31 December 2013. This amounts to more than 200,000 deals collectively valued at USD 50 trillion. The main objective is to identify differences in the ways that privately-owned and state-owned enterprises expand into international markets using M&A, a primary vehicle for international direct investment.

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民营企业与国有企业跨国并购比较研究

本文实证检验了国有企业和POE跨境投资不同的命题。它通过比较1996年1月1日至2013年12月31日期间国有企业和私营企业（价值超过500万美元）进行的所有并购来做到这一点。这相当于20多万笔交易，总价值50万亿美元。主要目标是确定私营企业和国有企业利用并购（国际直接投资的主要工具）进入国际市场的方式差异。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Journal of Public Policy Social Sciences-Political Science and International Relations

CiteScore

0.40

自引率

0.00%

发文量

期刊介绍： The IJPP proposes and fosters discussion on public policy issues facing nation states and national and supranational organisations, including governments, and how these diverse groups approach and solve common public policy problems. The emphasis will be on governance, accountability, the creation of wealth and wellbeing, and the implications policy choices have on nation states and their citizens. This perspective acknowledges that public policy choice and execution is complex and has ramifications on the welfare of citizens; and that, despite national differences, the actions of nation states are constrained by policies determined by supranational bodies, some of which are not directly accountable to any international body.