Effects of greenfield, mergers and acquisitions, and corruption on environmental performance, and economic growth of eight selected SAARC and Asean countries

South Asian Association for Regional Cooperation (SAARC) and Association of Southeast Asian Nations (ASEAN) have received substantial foreign direct investment (FDI) inflows over the past few decades. However, these two regions have also experienced environmental degradation over the same period. Th...

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Main Author:	Farooq, Rana Muhammad Adeel
Format:	Thesis
Language:	eng eng eng eng
Published:	2018
Subjects:	HC Economic History and Conditions
Online Access:	https://etd.uum.edu.my/8985/1/depositpermission-not%20allow_s901038.pdf https://etd.uum.edu.my/8985/2/S901038_01.pdf https://etd.uum.edu.my/8985/3/S901038_02.pdf https://etd.uum.edu.my/8985/4/s901038_references.docx
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id	my-uum-etd.8985
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spelling	my-uum-etd.89852022-01-05T00:51:47Z Effects of greenfield, mergers and acquisitions, and corruption on environmental performance, and economic growth of eight selected SAARC and Asean countries 2018 Farooq, Rana Muhammad Adeel Abu Bakar, Nor Aznin Jimoh, Olajide Raji School of Economics, Finance & Banking School of Economics, Finance & Banking HC Economic History and Conditions South Asian Association for Regional Cooperation (SAARC) and Association of Southeast Asian Nations (ASEAN) have received substantial foreign direct investment (FDI) inflows over the past few decades. However, these two regions have also experienced environmental degradation over the same period. Therefore, this study tests the validity of pollution haven hypothesis (PHH) by examining the influence of two types of FDI inflows namely greenfield investment and mergers and acquisitions (M&A), and the control of corruption on the environmental performance of eight selected countries in the SAARC and ASEAN regions over the 2003-2014 period. Additionally, using the endogenous growth model, this study investigates the impacts of greenfield investment, M&A, the control of corruption, and environmental performance on the economic growth of these eight countries over the same period. For the empirical analysis, this study employs fixed effect (FE), random effect (RE), two-stage least squares (2SLS) and robust standard errors (RSE) estimation methods. The results obtained from the FE and RE estimations prove that PHH is valid in these eight countries as shown by the detrimental consequences of greenfield investment on the environmental performance. Furthermore, the 2SLS estimation results indicate that greenfield investment and environmental performance positively and significantly contribute to the economic growth of these countries. Using a similar model but employing FE and RSE estimation methods, the results show that M&A, and control of corruption also accelerate the economic growth in these countries. The findings of this study are essential for policy purpose in that they can serve as a guide to formulate policies to attract energy-efficient and environment-friendly greenfield investment to enhance the environmental performance and accelerate the economic growth of these countries. Generally, SAARC and ASEAN countries should design policies for the improvement of the overall environmental performance and reduction in corruption to achieve rapid economic growth with sustainable environment. 2018 Thesis https://etd.uum.edu.my/8985/ https://etd.uum.edu.my/8985/1/depositpermission-not%20allow_s901038.pdf text eng staffonly https://etd.uum.edu.my/8985/2/S901038_01.pdf text eng staffonly https://etd.uum.edu.my/8985/3/S901038_02.pdf text eng staffonly https://etd.uum.edu.my/8985/4/s901038_references.docx text eng public other doctoral Universiti Utara Malaysia
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng eng eng
advisor	Abu Bakar, Nor Aznin Jimoh, Olajide Raji
topic	HC Economic History and Conditions
spellingShingle	HC Economic History and Conditions Farooq, Rana Muhammad Adeel Effects of greenfield, mergers and acquisitions, and corruption on environmental performance, and economic growth of eight selected SAARC and Asean countries
description	South Asian Association for Regional Cooperation (SAARC) and Association of Southeast Asian Nations (ASEAN) have received substantial foreign direct investment (FDI) inflows over the past few decades. However, these two regions have also experienced environmental degradation over the same period. Therefore, this study tests the validity of pollution haven hypothesis (PHH) by examining the influence of two types of FDI inflows namely greenfield investment and mergers and acquisitions (M&A), and the control of corruption on the environmental performance of eight selected countries in the SAARC and ASEAN regions over the 2003-2014 period. Additionally, using the endogenous growth model, this study investigates the impacts of greenfield investment, M&A, the control of corruption, and environmental performance on the economic growth of these eight countries over the same period. For the empirical analysis, this study employs fixed effect (FE), random effect (RE), two-stage least squares (2SLS) and robust standard errors (RSE) estimation methods. The results obtained from the FE and RE estimations prove that PHH is valid in these eight countries as shown by the detrimental consequences of greenfield investment on the environmental performance. Furthermore, the 2SLS estimation results indicate that greenfield investment and environmental performance positively and significantly contribute to the economic growth of these countries. Using a similar model but employing FE and RSE estimation methods, the results show that M&A, and control of corruption also accelerate the economic growth in these countries. The findings of this study are essential for policy purpose in that they can serve as a guide to formulate policies to attract energy-efficient and environment-friendly greenfield investment to enhance the environmental performance and accelerate the economic growth of these countries. Generally, SAARC and ASEAN countries should design policies for the improvement of the overall environmental performance and reduction in corruption to achieve rapid economic growth with sustainable environment.
format	Thesis
qualification_name	other
qualification_level	Doctorate
author	Farooq, Rana Muhammad Adeel
author_facet	Farooq, Rana Muhammad Adeel
author_sort	Farooq, Rana Muhammad Adeel
title	Effects of greenfield, mergers and acquisitions, and corruption on environmental performance, and economic growth of eight selected SAARC and Asean countries
title_short	Effects of greenfield, mergers and acquisitions, and corruption on environmental performance, and economic growth of eight selected SAARC and Asean countries
title_full	Effects of greenfield, mergers and acquisitions, and corruption on environmental performance, and economic growth of eight selected SAARC and Asean countries
title_fullStr	Effects of greenfield, mergers and acquisitions, and corruption on environmental performance, and economic growth of eight selected SAARC and Asean countries
title_full_unstemmed	Effects of greenfield, mergers and acquisitions, and corruption on environmental performance, and economic growth of eight selected SAARC and Asean countries
title_sort	effects of greenfield, mergers and acquisitions, and corruption on environmental performance, and economic growth of eight selected saarc and asean countries
granting_institution	Universiti Utara Malaysia
granting_department	School of Economics, Finance & Banking
publishDate	2018
url	https://etd.uum.edu.my/8985/1/depositpermission-not%20allow_s901038.pdf https://etd.uum.edu.my/8985/2/S901038_01.pdf https://etd.uum.edu.my/8985/3/S901038_02.pdf https://etd.uum.edu.my/8985/4/s901038_references.docx
_version_	1747828502952935424

Effects of greenfield, mergers and acquisitions, and corruption on environmental performance, and economic growth of eight selected SAARC and Asean countries

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