115 KB31 KB200320242012Višić, Josipaletnik:10številka:4str. 325-340, 419ISSN:1581-6311ISSN:1854-6935COBISSID:4638679URN:URN:NBN:SI:doc-2NQD5Y37enFaculty of managementManaging global transitionscross-border M and Afire-sale M and Ainvesticijsko okoljeinvestment climatemednarodne združitve in pripojitvesustainable economic developmenttrajnostni gospodarski razvojtržna cenaEvidence of fire-sale M&A in European transition countries|The aim of this paper is to determine differences in variables that create investment climate and therefore affect the values of incoming crossborder M&A in selected European transition countries. Cluster analysis for 1999 and 2007 shows that countries with unfavourable investment climate received high levels of incoming cross-border M&A. Sole country in the cluster characterised by healthy investment area (Slovenia) had the highest gdp per capita accompanied with the lowest values of incoming cross-border M&A relative to its GDP. These results could be interpreted as an evidence of fire-sale M&A in most European transition countries. In 2010, situation changed and although recession left trace, data on cross-border M&A indicate that foreign investors focused more on companies which operated in countries with healthier economy. These results indicate that a healthy investment climate is necessary to provide a sustainable economic development of a countryTEXTznanstveno časopisjejournalsSlovenian National E-content AggregatorNational and University Library of SloveniaUniverza na Primorskem, Fakulteta za management