Fusiones y adquisiciones en Latinoamérica, gobierno corporativo y modelo gravitacional


  • Mateo Vasco Escuela de Economía y Finanzas, Universidad EAFIT, Medellín, Colombia
  • Lina M. Cortés Finance Department, Prince Sultan University, Riyadh, Arabia Saudita
  • Sandra Gaitán A.B. Freeman School of Business, Tulane University, New Orleans, United States
  • Iván A. Durán Finance Department, Prince Sultan University, Riyadh, Arabia Saudita


Mergers and acquisitions, Corporate governance, Gravity model


In this study, and by making use of a gravity model, an analysis is made on whether transnational mergers and acquisitions (M&A) are influenced by the corporate governance standards of a country. The study only focuses on the M&A flows from the OECD countries towards Latinamerican economies, as well as using the Kaufmann indicators for measuring, among others, the corporate governance of a country. Evidence is found that the gravity model is explicative of the M&A flows, and that the better the level of corporate governance at both origin and destination countries, the greater is the M&As activity.

DOI: http://dx.doi.org/10.1016/j.jefas.2014.10.003


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How to Cite

Vasco, M., Cortés, L. M. ., Gaitán, S. ., & Durán, . I. A. . (2014). Fusiones y adquisiciones en Latinoamérica, gobierno corporativo y modelo gravitacional. Journal of Economics, Finance and Administrative Science, 19(37), 108–117. Retrieved from https://revistas.esan.edu.pe/index.php/jefas/article/view/188