Domestic banking sector development and cross border mergers and acquisitions in Africa
dc.contributor.author | Agbloyor, E. K. | |
dc.contributor.author | Abor, J. | |
dc.contributor.author | Adjasi, Charles Komla | en_ZA |
dc.contributor.author | Yawson, A. | |
dc.date.accessioned | 2012-04-12T08:33:54Z | |
dc.date.available | 2012-04-12T08:33:54Z | |
dc.date.issued | 2012 | |
dc.description.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. | |
dc.identifier.citation | Review of Development Finance | |
dc.identifier.citation | 2 | |
dc.identifier.citation | 1 | |
dc.identifier.citation | 32 | |
dc.identifier.citation | 42 | |
dc.identifier.issn | 18799337 | |
dc.identifier.other | 10.1016/j.rdf.2012.01.003 | |
dc.identifier.uri | http://hdl.handle.net/10019.1/20711 | |
dc.subject | Africa | |
dc.subject | Banks | |
dc.subject | Cross border mergers and acquisitions | |
dc.title | Domestic banking sector development and cross border mergers and acquisitions in Africa | |
dc.type | Review |