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заместитель директора по академическим вопросам Замков Олег Олегович
Заместитель директора по науке Никитин Максим Игоревич

Научный семинар МИЭФ, Alexey Zhdanov (Penn State University)

В четверг, 21 марта прошел научный семинар МИЭФ
Докладчик: Alexey Zhdanov (Penn State University)
Тема доклада: "Venture Capital Investments and Merger and Acquisition Activity around the World" совместно с Gordon M. Phillips.

Тезисы доклада: We examine the relation between venture capital (VC) investments and merger and acquisition (M&A) activity in 48 countries around the world. We find evidence of a strong positive association between VC investments and lagged M&A activity, consistent with the hypothesis that an active M&A market provides viable exit opportunities for VC companies and therefore incentivizes them to engage in more deals. We also explore the effects of country-level pro-takeover legislation passed internationally (positive shocks), and U.S. state-level antitakeover business combination laws (negative shocks), on VC activity. We find significant post-law changes in VC activity. VC activity intensifies after enactment of country-level takeover friendly legislation and decreases following passage of state antitakeover laws in the U.S.


Семинары МИЭФ