Please use this identifier to cite or link to this item:
|Scopus||Web of Science®||Altmetric|
|Title:||Domestic banking sector development and cross border mergers and acquisitions in Africa|
|Citation:||Review of Development Finance, 2012; 2(1):32-42|
|Elikplimi K. Agbloyor, Joshua Abor, Charles K.D. Adjasi and Alfred Yawson|
|Abstract:||Recently, economists have started taking a closer look at cross border mergers and acquisitions (M&As) due to its phenomenal rise in the past two decades. This study investigates the relation between banking sector development and cross M&As in Africa. Our sample consists of 11 African countries with data covering the period, 1993-2008. We use a Baltagi panel instrumental variable Error Component Two Stage Least Squares (EC2SLS) estimator with the Baltagi-Chang estimators of the variance components to deal with endogeneity. The results of the study indicate that banking sector development promotes cross border M&A activity in Africa. We also document evidence suggesting that cross border M&A activity drives banking sector development in Africa. Overall, our evidence suggests a two-way causation between banking sector development and cross border M&As. © 2012 Production and hosting by Elsevier B.V.|
|Rights:||© 2012 Production and hosting by Elsevier B.V. on behalf of Africagrowth Institute|
|Appears in Collections:||Aurora harvest|
Business School publications
Files in This Item:
There are no files associated with this item.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.