The effect of greenfield foreign direct investment, merger and acquisitions and institutions on economic growth for ten selected Asian countries

The effect of greenfield foreign direct investment, merger and acquisitions and institutions on economic growth for ten selected Asian countries

This thesis aims to examine the effect of Greenfield foreign direct investment (GFDI), merger and acquisitions (MNA) with the interaction effect of institutional factors on economic growth in ten selected Asian countries. The inconsistent results of previous studies are appealing researchers to adva...

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Main Author: Shah, Syed Wahid Ali
Format: Thesis
Language:eng
eng
Published: 2017
Subjects:
HB Economic Theory
Online Access:https://etd.uum.edu.my/7638/1/s900674_01.pdf
https://etd.uum.edu.my/7638/2/s900674_02.pdf
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institution Universiti Utara Malaysia
collection UUM ETD
language eng
eng
advisor Abu Bakar, Nor Aznin
topic HB Economic Theory
spellingShingle HB Economic Theory
Shah, Syed Wahid Ali
The effect of greenfield foreign direct investment, merger and acquisitions and institutions on economic growth for ten selected Asian countries
description This thesis aims to examine the effect of Greenfield foreign direct investment (GFDI), merger and acquisitions (MNA) with the interaction effect of institutional factors on economic growth in ten selected Asian countries. The inconsistent results of previous studies are appealing researchers to advance further empirical testing with disaggregated FDI in the form of GFDI and MNA. The gap in the literature, as decreasing trend of GDP growth and increasing tendency of FDI in Asia need to be addressed. Therefore, the study examines the interaction effect of institutional factors separately on the relationship between GFDI, MNA and economic growth, in selected Asian countries. In this thesis, we use a two-stage least squares methodology to control endogeneity, while the results of the Hausman test recommends that the fixed effect model is more appropriate for the analysis of ten selected Asian countries covering the period 2002-2016.The findings of the study show that MNA has positive impact on economic growth. while greenfield FDI is not significant in ten selected Asian countries. The results of the interaction effect of institutional factors show that performance of MNA increases with interaction effect of institutional factors. The institutional factors like political stability, rule of law and control of corruption show positive interaction effect with MNA. Similarly, government effectiveness and COC depict the positive interaction effect with GFDI although, voice and accountability and regulatory quality have negative interaction effect on economic growth in selected Asian countries. The results suggest that MNA needs to be encouraged to enhance its potential impact to contribute positively to economic growth. The study further suggests that countries should improve their regulation which are in the favour of investors to get positive results from both types of investments (GFDI, MNA).
format Thesis
qualification_name Ph.D.
qualification_level Doctorate
author Shah, Syed Wahid Ali
author_facet Shah, Syed Wahid Ali
author_sort Shah, Syed Wahid Ali
title The effect of greenfield foreign direct investment, merger and acquisitions and institutions on economic growth for ten selected Asian countries
title_short The effect of greenfield foreign direct investment, merger and acquisitions and institutions on economic growth for ten selected Asian countries
title_full The effect of greenfield foreign direct investment, merger and acquisitions and institutions on economic growth for ten selected Asian countries
title_fullStr The effect of greenfield foreign direct investment, merger and acquisitions and institutions on economic growth for ten selected Asian countries
title_full_unstemmed The effect of greenfield foreign direct investment, merger and acquisitions and institutions on economic growth for ten selected Asian countries
title_sort effect of greenfield foreign direct investment, merger and acquisitions and institutions on economic growth for ten selected asian countries
granting_institution Universiti Utara Malaysia
granting_department Othman Yeop Abdullah Graduate School of Business
publishDate 2017
url https://etd.uum.edu.my/7638/1/s900674_01.pdf
https://etd.uum.edu.my/7638/2/s900674_02.pdf
_version_ 1747828246834053120
spelling my-uum-etd.76382021-08-18T06:59:46Z The effect of greenfield foreign direct investment, merger and acquisitions and institutions on economic growth for ten selected Asian countries 2017 Shah, Syed Wahid Ali Abu Bakar, Nor Aznin Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HB Economic Theory This thesis aims to examine the effect of Greenfield foreign direct investment (GFDI), merger and acquisitions (MNA) with the interaction effect of institutional factors on economic growth in ten selected Asian countries. The inconsistent results of previous studies are appealing researchers to advance further empirical testing with disaggregated FDI in the form of GFDI and MNA. The gap in the literature, as decreasing trend of GDP growth and increasing tendency of FDI in Asia need to be addressed. Therefore, the study examines the interaction effect of institutional factors separately on the relationship between GFDI, MNA and economic growth, in selected Asian countries. In this thesis, we use a two-stage least squares methodology to control endogeneity, while the results of the Hausman test recommends that the fixed effect model is more appropriate for the analysis of ten selected Asian countries covering the period 2002-2016.The findings of the study show that MNA has positive impact on economic growth. while greenfield FDI is not significant in ten selected Asian countries. The results of the interaction effect of institutional factors show that performance of MNA increases with interaction effect of institutional factors. The institutional factors like political stability, rule of law and control of corruption show positive interaction effect with MNA. Similarly, government effectiveness and COC depict the positive interaction effect with GFDI although, voice and accountability and regulatory quality have negative interaction effect on economic growth in selected Asian countries. The results suggest that MNA needs to be encouraged to enhance its potential impact to contribute positively to economic growth. The study further suggests that countries should improve their regulation which are in the favour of investors to get positive results from both types of investments (GFDI, MNA). 2017 Thesis https://etd.uum.edu.my/7638/ https://etd.uum.edu.my/7638/1/s900674_01.pdf text eng public https://etd.uum.edu.my/7638/2/s900674_02.pdf text eng public http://sierra.uum.edu.my/record=b1698920~S1 Ph.D. doctoral Universiti Utara Malaysia Acar, S., Eris, B., & Tekce, M. (2012). The effect of foreign direct investment on domestic investment: Evidence from MENA countries. 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