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Published by the United Nations Conference on Trade and Development - UNCTAD

WORLD INVESTMENT REPORT 2000
Cross-border Mergers and Acquisitions and Development

The contribution of foreign direct investment to development is now widely recognized.
There is a perception, however, that this contribution may be affected by the way investment enters a country. It may come in the form of a new enterprise or the expansion of an existing enterprise; it may also come through a merger or an acquisition. Acquisitions, in particular, arouse concerns, especially over employment, ownership and market structure. And the concerns become urgent when the host economy is a developing one.
Given the recent explosion in cross-border mergers and acquisitions, UNCTAD´s 10th World Investment Report is a highly timely and important document. This phenomenon calls for just the sort of careful and dispassionate analysis that has become the hallmark of the WIRs.
Cross-border mergers and acquisitions are a part of economic life in a liberalizing and globalizing world. But accepting a more open market in the interests of growth and development does not mean relaxing the requirements of public vigilance. On the contrary, a freer market - and particularly the emerging global market for enterprises - calls for greater vigilance as well as stronger and better governance. To this end, World Investment Report 2000 provides us with a valuable resource.
Kofi A. Annan
Secretary-General of the United Nations

 
Table of Contents, Preface
Overview: English  French  Spanish
Chapter I
GLOBAL TRENDS: THE EXPANDING INTERNATIONAL PRODUCTION SYSTEM
A. The growth of international production remains unabated
B. Countries continue to liberalize FDI regimes
C. Enterprises seek to become more international
D. M&As take the lead
E. International production expands in scope and depth
F. Challenges
Chapter II
REGIONAL TREND
A. Developed countries
B. Developing countries
C. Central and Eastern Europe
Chapter III
THE LARGEST TRANSNATIONAL CORPORATIONS
A. The 100 largest TNCs worldwide
B. The largest 50 TNCs from
C. The largest 25 TNCs from Central Europe
Chapter IV
TRENDS IN CROSS-BORDER Mergers & Acquisitions
A. Definitions and classifications
B. Trends and characteristics
Chapter V
PERFORMANCE, MOTIVATIONS AND OUTLOOK
A. Corporate performance of M&As
B. Why do firms engage in cross-border M&As ?
C. A secular trend
D. An intriguing historical parallel
Chapter VI
FDI AND DEVELOPMENT: DOES MODE OF ENTRY MATTER?
A. External financial resources and investment
B. Technology
C. Employment and skills
D. Export competitiveness and trade
E. Market structure and competition
F. Summary and conclusions
References
Annex A   Additional text tables    Annex  B Statistical annex
Selected UNCTAD publications on transnational corporations and foreign direct investments
Questionnaire
Full Report [PDF, 368 pp., 2512KB]



Book information:
UN Symbol: UNCTAD/WIR/2000
Sales no.: E.00.II.D.20 Date of publication: 03/10/00 ISBN: 92-1-112490-5 No. of pages: 368 To order:
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