Эффекты синергии на мировом рынке капитала

Abstract

As Russian market for corporate control is gaining in momentum the interest in merger-and-acquisition activity and its impacts increases. One of the most debatable issues thereupon is whether the growing merger-and-acquisition activity creates a solid pipeline that appears capable of sustaining economy development in a long run. The background for the latter may be operational synergy or «2+2=5» affect. The intuitive reason underlying operational synergy stems from the ability to reduce costs of the combined entity and expand production. Current research focuses on real production growth. Given the limitations of the input data and research design applied, merger activity in Russia was found to have a clear-cut positive time-postponed impact on real production dynamics.