UDC 334.758
Authors
Anastasia A. Sozinova,
PhD in Economics, Associate Professor
Vyatka state University,
Kirov, Russia
Nadezhda K. Saveleva,
PhD in Economics, Associate Professor
Vyatka state University,
Kirov, Russia
Abstract
Purpose of work. The article examines the impact of macroeconomic and biological factors on the dy‑ namics of the mergers and acquisitions market: periods of epidemics and pandemics, as well as periods of global economic crises. Materials and methods. The impact of the studied factors on the dynamics of the mergers and acquisi‑ tions market is assessed using a correlation analysis of the dynamics of the average annual number of mergers and acquisitions with such indicators as world GDP per capita (USD), the average death rate from infectious diseases in a given year (%), the number of infectious diseases that cause epidemics or pandemics in a given year (PCs), global health expenditure (% of world GDP). From the point of view of methodology, the follow‑ ing methods were used in the study: correlation analysis, deduction and induction method, cause-and-effect method, system and problem analysis. Results. We analyzed the periods of active dynamics of mergers and acquisitions since XNUMX, which cor‑ related with periods of global economic crises and periods of epidemics and pandemics. The analysis revealed that periods of epidemics and pandemics were quite rare triggers of economic crises, and corresponded to the period of active dynamics of mergers and acquisitions. The authors analyzed annual data on mergers and acquisitions and macroeconomic factors from XNUMX to XNUMX. Two hypotheses are proposed: the impact of epidemics and pandemics in a given year on the m & a market dynamics; and economic crises. The study of time series confirmed the hypothesis about the impact of economic crises. The hypothesis about the impact of epidemics and pandemics was not confirmed. The study is distinguished by a retrospective analysis, its results have both theoretical and practical value. Conclusion.The findings and recommendations will be useful in organizing influence and acquisition trans‑ actions during periods of economic crises, epidemics and pandemics.
Keywords
mergers and acquisitions, market dynamics, M&A, reorganization, reorganization activity, eco‑ nomic crisis, epidemics, pandemics, macroeconomic factors, COVID-2019.
