<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The literature is characterized by a lack of research analyzing cross-border mergers and acquisitions (CBM&amp;A) as a network. This article aims to evaluate the topology properties (the geographical and sectoral structure) of the global CBM&amp;A network in 1990–2021. A quantitative study is conducted by using the social network analysis (SNA) method. The countries’ structural power in this global system is measured by the centrality indicators. From a geographical perspective, the study shows that in 1990–2021, the United States, the United Kingdom, Germany, Canada, and France occupied the most central place in the network. From the beginning of the 21st century, there has also been a marked increase in the importance of Asian countries, with China and India receiving a large inflow of foreign capital. In turn, entities from Hong Kong, Singapore, Japan, and China invested heavily abroad through M&amp;A. The Asian countries’ economies also played the role of important intermediaries in the global CBM&amp;A network. From a sectoral perspective, it can be stated that in 1990–2021, mainly entities operated in the financial, industrial, basic materials, technology, and consumer cyclical sectors made transactions in the global CBM&amp;A network. They were also the main investment targets within this network.</p>
</abstract>

The literature is characterized by a lack of research analyzing cross-border mergers and acquisitions (CBM&A) as a network. This article aims to evaluate the topology properties (the geographical and sectoral structure) of the global CBM&A network in 1990–2021. A quantitative study is conducted by using the social network analysis (SNA) method. The countries’ structural power in this global system is measured by the centrality indicators. From a geographical perspective, the study shows that in 1990–2021, the United States, the United Kingdom, Germany, Canada, and France occupied the most central place in the network. From the beginning of the 21st century, there has also been a marked increase in the importance of Asian countries, with China and India receiving a large inflow of foreign capital. In turn, entities from Hong Kong, Singapore, Japan, and China invested heavily abroad through M&A. The Asian countries’ economies also played the role of important intermediaries in the global CBM&A network. From a sectoral perspective, it can be stated that in 1990–2021, mainly entities operated in the financial, industrial, basic materials, technology, and consumer cyclical sectors made transactions in the global CBM&A network. They were also the main investment targets within this network.

The global cross-border mergers and acquisitions network between 1990 and 2021

International Journal of Management and Economics

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

{"article-title":"The global cross-border mergers and acquisitions network between 1990 and 2021"}

The literature is characterized by a lack of research analyzing cross-border mergers and acquisitions (CBM&A) as a network. This article aims to evaluate the...

The global cross-border mergers and acquisitions network between 1990 and 2021

Article Category: Empirical Paper

Online veröffentlicht: 31. Dez. 2023

Seitenbereich: 333 - 348

Eingereicht: 14. Sept. 2022

Akzeptiert: 14. Juli 2023

DOI: https://doi.org/10.2478/ijme-2023-0021

Schlüsselwörter
centrality, cross-border mergers and acquisitions, network analysis

© 2023 Dominika Brózda-Wilamek, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

The global cross-border mergers and acquisitions network between 1990 and 2021

Article Category: Empirical Paper

Online veröffentlicht: 31. Dez. 2023

Seitenbereich: 333 - 348

Eingereicht: 14. Sept. 2022

Akzeptiert: 14. Juli 2023

DOI: https://doi.org/10.2478/ijme-2023-0021

Schlüsselwörtercentrality, cross-border mergers and acquisitions, network analysis

© 2023 Dominika Brózda-Wilamek, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Schlüsselwörter
centrality, cross-border mergers and acquisitions, network analysis