M and As and the global strategies of TNCs

John Cantwell, Grazia D. Santangelo

Research output: Contribution to journalArticlepeer-review

11 Scopus citations


Most of the motivations for M and As that feature in the global strategies of transnational corporations (TNCs) are a means of reshaping competitive advantages within their respective industries. They have some effect on the TNCs of all or most industries and so to that extent they are not necessarily sector-specific. However, it may be that some of the motives which we outline affect some industries more than others, and in that sense they can be expected to be associated with a greater intensity of M and As in certain sectors than others. We identify the likelihood of M and As across industries, and discuss how the general factors that have promoted the recent M and A wave have had a bigger impact on the global strategies of TNCs in the industries in which the propensity to engage in M and As has been the highest. The regional dimension is also considered.

Original languageEnglish (US)
Pages (from-to)400-434
Number of pages35
JournalDeveloping Economies
Issue number4
StatePublished - Dec 2002

All Science Journal Classification (ASJC) codes

  • Development
  • Economics and Econometrics


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