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Post Merger Performances In Japan, Mami Suzuki
Post Merger Performances In Japan, Mami Suzuki
Honors Papers
Mergers and acquisitions are relatively new phenomena in the Japanese market. The total number M & A transactions per year has increased from approximately 500 to 1,752 between 1995 and 2002. MergerStat records 3,510 and 7,411 transactions in the U.S. for the equivalent years. The percentage of M & A transactions per number of business entities was 0.03% for Japan in 2001 and 0.1% for the U.S. in 2002. As illustrated through the figures, the frequency of M&A in Japan is considerably lower relative to the U.S., but proliferation of transactions is evident as well. Post-merger performances of firms in …
Exchange Rates And The Trade Balance In Argentina And Peru: Is There A J-Curve?, Steven C. Trost
Exchange Rates And The Trade Balance In Argentina And Peru: Is There A J-Curve?, Steven C. Trost
Honors Papers
In this paper, I test whether quarterly data either supports or disproves the existence of such a J-curve in two Latin American countries -- Argentina and Peru. The time periods studied will be: for Peru, 1979 quarter 1 to 1991 quarter 2 and for Argentina, 1977 quarter 1 to 1990 quarter 4. Before completing the empirical part of this paper, I expected to find, if any, only a short deterioration in the trade balance following a depretiation of the real exchange rate in these two countries. With prices as well as other economic indicators changing daily, the reaction times of …
Financial Intermediation And Growth In Developing Countries, Asim Husain
Financial Intermediation And Growth In Developing Countries, Asim Husain
Honors Papers
Two main relationships between finance and growth are often emphasized: i) the role that financial markets have in channeling savings towards investment and ii) the informational problems that financial markets are able to solve that would otherwise lead to inefficient outcomes. This paper emphasizes a model where prospective entrepreneurs are evaluated in turn by financial markets on their ability to come up with a successful innovation which determines the level of productivity in the economy. With efficient financial markets loans are made to those who are the most likely to come up with marketable innovations. Because marketable innovations lead to …