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Industry-level Determinants of Domestic Mergers and Acquisitions in India

Sonal Dua

Journal of Business Thought2025https://doi.org/10.18311/jbt/2025/51294article
ABDC C
Weight
0.50

What the paper says

This paper examines the motives behind domestic mergers and acquisitions by Indian corporates during the pre-COVIDperiod, from 1998 to 2019. Using industry-level panel data and a Tobit regression model, it identifies key drivers of mergerand acquisition activity across different sectors. Foreign competition spurs consolidation in services, while manufacturingfirms pursue diversification during stable growth. The study finds no support for stock-market misvaluation or megamergers as motivations. Overall, Indian firms engage in mergers and acquisitions to expand and improve efficiency, not for financial opportunism, offering insights into corporate strategy in emerging markets and implications for policymakers.

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https://doi.org/https://doi.org/10.18311/jbt/2025/51294

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@article{sonal2025,
  title        = {{Industry-level Determinants of Domestic Mergers and Acquisitions in India}},
  author       = {Sonal Dua},
  journal      = {Journal of Business Thought},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.18311/jbt/2025/51294},
}

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Industry-level Determinants of Domestic Mergers and Acquisitions in India

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.