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Long Memory in Mergers and Acquisitions: Sectoral Evidence for an Emerging Economy

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  • Marcelo Resende

    (Instituto de Economia, Universidade Federal do Rio de Janeiro)

Abstract

The paper aims at testing for the presence of long memory in domestic and cross border mergers and acquisitions in Brazil along the 2002-1/2011-4 period. The evidence from the estimation of fractional ARIMA models at the sectoral level provided scant evidence of the presence of persistent long memory processes. The results display contrast with previous aggregate evidence and sectoral evidence for developed countries. In fact, except for a few cases, with a strong example in financial institutions, one cannot detect salient persistent patterns

Suggested Citation

  • Marcelo Resende, 2012. "Long Memory in Mergers and Acquisitions: Sectoral Evidence for an Emerging Economy," Economics Bulletin, AccessEcon, vol. 32(4), pages 2876-2883.
    • Handle: RePEc:ebl:ecbull:eb-12-00447
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    mergers and acquisitions; long memory; persistence;
    All these keywords.

    JEL classification:

    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General

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