{"id":"https://openalex.org/W2149264701","doi":null,"title":"The Macroeconomic Determinants of Cross Border Mergers and Acquisitions and Greenfield Investments","display_name":"The Macroeconomic Determinants of Cross Border Mergers and Acquisitions and Greenfield Investments","publication_year":2009,"publication_date":"2009-01-01","ids":{"openalex":"https://openalex.org/W2149264701","mag":"2149264701"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:mde:wpaper:0017","doi":null,"is_oa":false,"landing_page_url":"https://www.gee.gov.pt/RePEc/WorkingPapers/GEE_PAPERS_17.pdf","pdf_url":"https://www.gee.gov.pt/RePEc/WorkingPapers/GEE_PAPERS_17.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"http://wps.fep.up.pt/wps/wp281.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5083296006","display_name":"Paula Neto","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I60858718","display_name":"University of Aveiro","ror":"https://ror.org/00nt41z93","country_code":"PT","type":"education","lineage":["https://openalex.org/I60858718"]}],"countries":["PT"],"is_corresponding":false,"raw_author_name":"Paula Neto","raw_affiliation_strings":["ISCA - University of Aveiro"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"ISCA - University of Aveiro","institution_ids":["https://openalex.org/I60858718"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5024896245","display_name":"Ant\u00f3nio Brand\u00e3o","orcid":"https://orcid.org/0000-0002-6579-4193","observed_orcids":["https://orcid.org/0000-0002-6579-4193"]},"institutions":[{"id":"https://openalex.org/I182534213","display_name":"Universidade do Porto","ror":"https://ror.org/043pwc612","country_code":"PT","type":"education","lineage":["https://openalex.org/I182534213"]}],"countries":["PT"],"is_corresponding":false,"raw_author_name":"Ant\u00f3nio Brand\u00e3o","raw_affiliation_strings":["Universidade do Porto - Faculdade de Economia (FEP)"],"raw_orcid":"https://orcid.org/0000-0002-6579-4193","affiliations":[{"raw_affiliation_string":"Universidade do Porto - Faculdade de Economia (FEP)","institution_ids":["https://openalex.org/I182534213"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5034108087","display_name":"Antonio Melo Cerqueira","orcid":"https://orcid.org/0000-0002-3114-503X","observed_orcids":["https://orcid.org/0000-0002-3114-503X"]},"institutions":[{"id":"https://openalex.org/I182534213","display_name":"Universidade do Porto","ror":"https://ror.org/043pwc612","country_code":"PT","type":"education","lineage":["https://openalex.org/I182534213"]}],"countries":["PT"],"is_corresponding":false,"raw_author_name":"Ant\u00f3nio Cerqueira","raw_affiliation_strings":["Universidade do Porto - Faculdade de Economia (FEP)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Universidade do Porto - Faculdade de Economia (FEP)","institution_ids":["https://openalex.org/I182534213"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":23,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10415","display_name":"International Business and FDI","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10415","display_name":"International Business and FDI","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12040","display_name":"International Arbitration and Investment Law","score":0.0,"subfield":{"id":"https://openalex.org/subfields/3308","display_name":"Law"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/cross-border-mergers-and-acquisitions","display_name":"cross-border mergers and acquisitions","score":0.9879999756813049},{"id":"https://openalex.org/keywords/greenfield-investment","display_name":"greenfield investment","score":0.9760000109672546},{"id":"https://openalex.org/keywords/foreign-direct-investment","display_name":"foreign direct investment","score":0.9430000185966492},{"id":"https://openalex.org/keywords/entry-mode","display_name":"market entry modes","score":0.5600000023841858},{"id":"https://openalex.org/keywords/macroeconomic-factors","display_name":"macroeconomic factors","score":0.9039999842643738},{"id":"https://openalex.org/keywords/investor-protection","display_name":"investor protection","score":0.9110000133514404},{"id":"https://openalex.org/keywords/cultural-factors","display_name":"cultural factors","score":0.5730000138282776},{"id":"https://openalex.org/keywords/governance","display_name":"governance","score":0.6330000162124634},{"id":"https://openalex.org/keywords/human-development-index","display_name":"Human Development Index","score":0.8199999928474426},{"id":"https://openalex.org/keywords/trade-openness","display_name":"trade openness","score":0.6169999837875366},{"id":"https://openalex.org/keywords/country-size","display_name":"country size","score":0.5270000100135803}],"concepts":[{"id":"https://openalex.org/C126081937","wikidata":"https://www.wikidata.org/wiki/Q833406","display_name":"Greenfield project","level":3,"score":0.8082726001739502},{"id":"https://openalex.org/C84976871","wikidata":"https://www.wikidata.org/wiki/Q2015673","display_name":"Openness to experience","level":2,"score":0.7635772228240967},{"id":"https://openalex.org/C33842695","wikidata":"https://www.wikidata.org/wiki/Q490513","display_name":"Foreign direct investment","level":2,"score":0.5864007472991943},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.5505483746528625},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.5410081744194031},{"id":"https://openalex.org/C548217281","wikidata":"https://www.wikidata.org/wiki/Q731112","display_name":"Mergers and acquisitions","level":2,"score":0.5393819808959961},{"id":"https://openalex.org/C6422946","wikidata":"https://www.wikidata.org/wiki/Q857354","display_name":"Panel data","level":2,"score":0.5381451845169067},{"id":"https://openalex.org/C182306322","wikidata":"https://www.wikidata.org/wiki/Q1779371","display_name":"Order (exchange)","level":2,"score":0.5245611667633057},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4878652095794678},{"id":"https://openalex.org/C48677424","wikidata":"https://www.wikidata.org/wiki/Q6888088","display_name":"Mode (computer interface)","level":2,"score":0.4859727621078491},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.43005314469337463},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4180895984172821},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2053874135017395},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.20244210958480835},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.1825474500656128},{"id":"https://openalex.org/C77805123","wikidata":"https://www.wikidata.org/wiki/Q161272","display_name":"Social psychology","level":1,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.0},{"id":"https://openalex.org/C111919701","wikidata":"https://www.wikidata.org/wiki/Q9135","display_name":"Operating system","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"pmh:oai:RePEc:mde:wpaper:0017","doi":null,"is_oa":false,"landing_page_url":"https://www.gee.gov.pt/RePEc/WorkingPapers/GEE_PAPERS_17.pdf","pdf_url":"https://www.gee.gov.pt/RePEc/WorkingPapers/GEE_PAPERS_17.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:2149264701","doi":null,"is_oa":true,"landing_page_url":"http://wps.fep.up.pt/wps/wp281.pdf","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},{"id":"mag:3122359129","doi":null,"is_oa":false,"landing_page_url":"https://ideas.repec.org/p/mde/wpaper/0017.html","pdf_url":null,"source":{"id":"https://openalex.org/S4306511194","display_name":"GEE Papers","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"GEE Papers","raw_type":null}],"best_oa_location":{"id":"mag:2149264701","doi":null,"is_oa":true,"landing_page_url":"http://wps.fep.up.pt/wps/wp281.pdf","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[{"display_name":"Decent work and economic growth","score":0.6452000141143799,"id":"https://metadata.un.org/sdg/8"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":43,"referenced_works":["https://openalex.org/W12419775","https://openalex.org/W42159110","https://openalex.org/W171350495","https://openalex.org/W1495656322","https://openalex.org/W1508932393","https://openalex.org/W1510265308","https://openalex.org/W1551750376","https://openalex.org/W1722633069","https://openalex.org/W1923879643","https://openalex.org/W1970685113","https://openalex.org/W1978311462","https://openalex.org/W1979132028","https://openalex.org/W1979511006","https://openalex.org/W1996085611","https://openalex.org/W1999113132","https://openalex.org/W2004508795","https://openalex.org/W2011805535","https://openalex.org/W2035943167","https://openalex.org/W2043216401","https://openalex.org/W2046447670","https://openalex.org/W2082006326","https://openalex.org/W2085067690","https://openalex.org/W2085544496","https://openalex.org/W2108818539","https://openalex.org/W2110547370","https://openalex.org/W2112352537","https://openalex.org/W2112534347","https://openalex.org/W2115932472","https://openalex.org/W2122929840","https://openalex.org/W2124758339","https://openalex.org/W2137567513","https://openalex.org/W2142197403","https://openalex.org/W2160766099","https://openalex.org/W2320454046","https://openalex.org/W3023816822","https://openalex.org/W3121584453","https://openalex.org/W3121759882","https://openalex.org/W3121830825","https://openalex.org/W3122011607","https://openalex.org/W3123309537","https://openalex.org/W3124350987","https://openalex.org/W3124950856","https://openalex.org/W3125956608"],"related_works":["https://openalex.org/W7095123256","https://openalex.org/W1996651142","https://openalex.org/W3125512584","https://openalex.org/W2390420167","https://openalex.org/W2019790289","https://openalex.org/W7131634939","https://openalex.org/W4280520938","https://openalex.org/W2991400289","https://openalex.org/W2520225994","https://openalex.org/W2065928982"],"abstract_inverted_index":{"When":[0],"a":[1,15,32,46,106],"company":[2],"decides":[3],"to":[4,63,88,114,137],"invest":[5],"abroad,":[6],"it":[7,10],"can":[8],"do":[9],"through":[11,73],"the":[12,22,37,50,65,74,83,90,143],"establishment":[13],"of":[14,24,40,53,59,76,79,94,108,145],"new":[16],"firm":[17],"(greenfield":[18],"investment)":[19],"or":[20],"by":[21,68],"purchase":[23],"an":[25,139],"already":[26],"existing":[27],"firm.":[28],"Although":[29],"there":[30,43,104],"is":[31,62,105],"vast":[33],"empirical":[34],"literature":[35],"on":[36],"macroeconomic":[38],"determinants":[39,52,93],"aggregate":[41],"FDI,":[42],"are":[44,112],"just":[45],"few":[47],"studies":[48],"examining":[49],"location-specific":[51,92],"each":[54],"entry":[55,116],"mode.":[56],"The":[57],"aim":[58],"this":[60],"study":[61],"extend":[64],"previous":[66],"work":[67],"Globerman":[69],"and":[70,97,124,128,133,147],"Shapiro":[71],"(2005)":[72],"analysis":[75],"panel":[77],"data":[78],"53":[80],"countries":[81],"over":[82],"period":[84],"1996-2006,":[85],"in":[86,142],"order":[87],"identify":[89],"potential":[91],"both":[95],"M&A":[96,146],"greenfields.":[98],"We":[99],"have":[100],"found":[101],"evidence":[102],"that":[103],"group":[107],"mode-encompassing":[109],"variables":[110,135],"which":[111],"common":[113],"all":[115],"modes":[117],"(such":[118],"as":[119],"economy\u2019s":[120],"size,":[121],"openness,":[122],"governance":[123],"human":[125],"development":[126],"index)":[127],"mode-specific":[129],"variables.":[130],"Investor\u2019s":[131],"protection":[132],"cultural":[134],"seem":[136],"play":[138],"important":[140],"role":[141],"explanation":[144],"greenfields,":[148],"respectively.":[149]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":3},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":4},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":4},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":2},{"year":2016,"cited_by_count":1},{"year":2015,"cited_by_count":1},{"year":2013,"cited_by_count":2}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}
