The impact of terrorism on M&A activity - Variations between domestic and cross-border deals and the moderating effect of regulatory quality
| dc.contributor.advisor | B. van | |
| dc.contributor.author | Boelaars, Jari | |
| dc.date.issued | 2024-07-01 | |
| dc.description.abstract | This thesis examines the relationship between terrorism and total M&A activity as well as for the differences between domestic and cross-border deals. Subsequently, it is tested whether the institutional quality indicator regulatory quality moderates the relationship between terrorism and total M&A activity. Secondary data was retrieved from the Global Terrorism Database (GTD), the Orbis M&A database and the World Governance Indicators from the World bank. A firm-level perspective resulted in a panel dataset of 5791 M&A deals completed by individual firms in the period of 2000 - 2020. Linear Mixed Model (LMM) and Generalized Linear Mixed Model regression was used to analyse the formulated hypotheses. The results show that there seems to be no significant effects of terrorism on total M&A activity as well as on the choice between domestic and cross-border deals. This is in contrast with other authors who suggested that there were significant negative effects. This implies that this relationship does not exist in every study and may depend on the research context or data sample used. Future research should focus more on M&A activities in specific locations, such as developing countries. Moreover, the results show that regulatory does not serve as a positive moderator in the relationship between terrorism and total M&A activity. Instead, other institutional quality indicators could be valuable moderators in this relationship. In conclusion, more research is needed on the topic of terrorism in International Business and specifically related to M&A activities at a firm-level perspective. | |
| dc.identifier.uri | https://theses.ubn.ru.nl/handle/123456789/17292 | |
| dc.language.iso | en | |
| dc.thesis.faculty | Faculteit der Managementwetenschappen | |
| dc.thesis.specialisation | specialisations::Faculteit der Managementwetenschappen::Master Business Administration::International Business | |
| dc.thesis.studyprogramme | studyprogrammes::Faculteit der Managementwetenschappen::Master Business Administration | |
| dc.thesis.type | Master | |
| dc.title | The impact of terrorism on M&A activity - Variations between domestic and cross-border deals and the moderating effect of regulatory quality |