Институциональные и макроэкономические факторы географического направления российских международных сделок слияния и поглощения

Авторы

Аннотация

В статье исследуется влияние макроэкономических показателей страны происхождения и принимающей страны, а также институциональной дистанции между ними на выбор направления сделок слияний и поглощений (M&A) российских компаний. На основе анализа данных по сделкам, осуществленным российскими компаниями в период с 2007 по 2013 г. в 46 странах, с применением метода отрицательной биномиальной регрессии выявлено, что наиболее значимыми мотивами для их совершения являются доступ к ресурсам, доступ к стратегическим активам и технологиям, а также повышение эффективности деятельности. При этом институциональная дистанция между страной происхождения и принимающей страной оказывает как значимое прямое влияние на количество сделок, так и модерационное влияние на взаимосвязь ключевых макроэкономических показателей и количества слияний и поглощений.

Ключевые слова:

интернационализация, прямые зарубежные инвестиции, сделки слияний и поглощений, макроэкономические факторы, институциональная дистанция, Россия

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Библиографические ссылки

ЛИТЕРАТУРА НА РУССКОМ ЯЗЫКЕ

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Translation of references in Russian into English

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Опубликован

26.10.2015

Как цитировать

Панибратов, А. Ю., Веселова, А. С., & Ермолаева, Л. А. (2015). Институциональные и макроэкономические факторы географического направления российских международных сделок слияния и поглощения. Российский журнал менеджмента, 13(3), 59–78. извлечено от https://rjm.spbu.ru/article/view/173

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Теоретические и эмпирические исследования