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Overseas Mergers and Acquisitions by Indian Enterprises: Patterns and Motivations

Author

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  • Pradhan, Jaya Prakash
  • Abraham, Vinoj

Abstract

This paper examines the patterns and motivations behind the overseas M&As by Indian enterprises. It is found that a large majority of overseas M&As originated within services sector led by software industry and in overwhelming cases were directed towards developed countries of the world economy. The main motivations of Indian firm’s overseas acquisitions have been to access international market, firm-specific intangibles like technology and human skills, benefits from operational synergies, overcome constraints from limited home market growth, and survive in an increasingly competitive business environment. Further it has been found that overseas acquirers in the case of manufacturing sector tends to be large sized and research intensive, while they are older, large sized and export-oriented in the case of software sector.

Suggested Citation

  • Pradhan, Jaya Prakash & Abraham, Vinoj, 2004. "Overseas Mergers and Acquisitions by Indian Enterprises: Patterns and Motivations," MPRA Paper 17076, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:17076
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    Citations

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    Cited by:

    1. Pradhan, Jaya Prakash, 2007. "National Innovation System and the Emergence of Indian Information and Software Technology Multinationals," MPRA Paper 12359, University Library of Munich, Germany.
    2. Pradhan, Jaya Prakash, 2007. "Trends and Patterns of Overseas Acquisitions by Indian Multinationals," MPRA Paper 12404, University Library of Munich, Germany.
    3. Jaya Prakash Pradhan & Neelam Singh, 2009. "Outward FDI and Knowledge Flows: A Study of the Indian Automotive Sector," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 1(1), pages 156-187, June.
    4. Varma, Sumati, 2008. "International venturing emerging paradigms - a study of the Indian IT industry," MPRA Paper 14028, University Library of Munich, Germany.
    5. Poonam Mehra Singh, 2017. "Competition or Comparative Advantage: What Drives Cross Border Mergers and Acquisitions?," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 15(3), pages 461-488, September.
    6. Santosh K. Sahu & Nitika Agarwal, 2015. "Mergers and Acquisitions in the Indian Pharmaceutical Sector," Working Papers 2015-122, Madras School of Economics,Chennai,India.
    7. Jaya Prakash Pradhan, "undated". "Growth of Indian Multinationals in the World Economy: Implications for Development," Working Papers 0704, Institute for Studies in Industrial Development (ISID).
    8. Pradhan, Jaya Prakash, 2008. "Indian Direct Investment in Developing Countries: Emerging Trends and Development Impacts," MPRA Paper 12323, University Library of Munich, Germany.
    9. Manish Tewari & Pradip Banerjee & Soumen De, 2019. "Valuation effects of cultural disparity on cross border mergers: The evidence from India," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 8(4), pages 21-40, October.
    10. Saikia, Dilip, 2009. "Outward Foreign Direct Investment from India," MPRA Paper 29079, University Library of Munich, Germany.
    11. Morris, Sebastian & Jain, Palakh, 2013. "Empirical study on inter-country OFDI," MPRA Paper 56194, University Library of Munich, Germany.
    12. Pradhan, Jaya Prakash, 2005. "Outward Foreign Direct Investment from India: Recent Trends and Patterns," MPRA Paper 12358, University Library of Munich, Germany.
    13. Pradhan, Jaya Prakash, 2007. "How Do Indian Multinationals Affect Exports from Home Country?," MPRA Paper 19022, University Library of Munich, Germany.
    14. Jaya Prakash Pradhan, 2010. "Strategic Asset-Seeking Activities of Emerging Multinationals: Perspectives of Foreign Acquisitions by Indian Pharmaceutical MNEs," Organizations and Markets in Emerging Economies, Faculty of Economics, Vilnius University, vol. 1(2).

    More about this item

    Keywords

    Indian firms; Overseas M&As;

    JEL classification:

    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure

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