The Effect of the Brexit on cross-border M&A in the UK
Keywords
Loading...
Authors
Issue Date
2020-08-20
Language
en
Document type
Journal Title
Journal ISSN
Volume Title
Publisher
Title
ISSN
Volume
Issue
Startpage
Endpage
DOI
Abstract
This study aims to research the influence of Brexit on the cross-border M&A activity in the UK. The existing literature of the determinants that affect cross-border M&A activity is used to make a connection with the Brexit announcement. The macro-economic variables that are influenced by Brexit and influence cross-border M&A activity are: stock market, exchange rate, GDP, interest rate and inflation. The data that is used for this study is monthly data from 2000 up to and including 2019. The three-step mediation analysis measure the relationships of the variables. The relationship between Brexit and the macro-economic variables is measured in the first step. In the second step the relationship is measured of Brexit on cross-border M&A activity. In the third step the relationship is measured of Brexit and the macro-economic variables on cross-border M&A activity. The results showed that Brexit leads to an increase in cross-border M&A, and that this effect is mediated by a higher value of the stock market.
Description
Citation
Supervisor
Faculty
Faculteit der Managementwetenschappen