Domestic banking sector development and cross border mergers and acquisitions in Africa

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dc.contributor.authorAgbloyor, E. K.
dc.contributor.authorAbor, J.
dc.contributor.authorAdjasi, Charles Komlaen_ZA
dc.contributor.authorYawson, A.
dc.date.accessioned2012-04-12T08:33:54Z
dc.date.available2012-04-12T08:33:54Z
dc.date.issued2012
dc.description.abstractRecently, 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.citationReview of Development Finance
dc.identifier.citation2
dc.identifier.citation1
dc.identifier.citation32
dc.identifier.citation42
dc.identifier.issn18799337
dc.identifier.other10.1016/j.rdf.2012.01.003
dc.identifier.urihttp://hdl.handle.net/10019.1/20711
dc.subjectAfrica
dc.subjectBanks
dc.subjectCross border mergers and acquisitions
dc.titleDomestic banking sector development and cross border mergers and acquisitions in Africa
dc.typeReview
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