Human development and cross-border acquisitions

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dc.contributor.authorOwen, S.
dc.contributor.authorYawson, A.
dc.date.issued2010
dc.description.abstractWe examine the role of human development in US companies' decisions to engage in cross-border acquisitions. Utilizing the human development index (HDI) published by the United Nations Development Program (UNDP), we find that US firms make acquisitions in countries with strong HDI levels. Alternative factors such as institutional quality, life expectancy, telephone usage and school enrolments also have a positive influence on the cross-border acquisition decision. Further, we find a positive relationship between cross-border mergers and acquisitions (M&As) and HDI rankings relative to the United States. Our findings contribute to the literature that seeks to explain why so little capital flows from developed to developing economies. © 2010 Elsevier B.V.
dc.description.statementofresponsibilitySian Owen and Alfred Yawson
dc.description.urihttp://www.elsevier.com/wps/find/journaldescription.cws_home/523106/description#description
dc.identifier.citationJournal of Empirical Finance, 2010; 17(4):689-701
dc.identifier.doi10.1016/j.jempfin.2010.03.004
dc.identifier.issn0927-5398
dc.identifier.issn1879-1727
dc.identifier.orcidYawson, A. [0000-0002-5000-7871]
dc.identifier.urihttp://hdl.handle.net/2440/61488
dc.language.isoen
dc.publisherElsevier BV, North Holland
dc.rights© 2010 Elsevier B.V. All rights reserved.
dc.source.urihttps://doi.org/10.1016/j.jempfin.2010.03.004
dc.subjectMergers and acquisitions
dc.subjectForeign direct investment
dc.subjectHuman development
dc.subjectLucas Paradox
dc.titleHuman development and cross-border acquisitions
dc.typeJournal article
pubs.publication-statusPublished

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