Determinants of Location Choice of M&A Deals Initiated by Russian Companies

Student: Tevosova Anna

Educational Programme: Financial Markets and Financial Institutions (Master)

Year of Graduation: 2019

Nowadays, there is an increase in the activity of acquiring foreign assets, which in most cases is driven by the digital transformation of the economy and business activities. The main goal of this work is to identify and analyze the determinants of location choice of M&A deals initiated by Russian companies. We studied cross-border M A transactions initiated by Russian companies in the period from 2008 to 2018. The sample included 312 M&A deals for the conditional logistic model and 634 (country / year) observations for the negative binomial model. The results of the study show that in M&A deals, Russian companies prefer to go to countries that characterize a developed institutional environment and the availability of strategic resources. Cultural distance is an obstacle for Russian companies, the availability of natural resources in the host country negatively affects the activity of M&A deals.

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