TY - JOUR
AU - Trax, Michaela
AB - Abstract This paper provides empirical evidence on the effects of cross‐border mergers and acquisitions (M&As) on the acquiring firms’ domestic performance in the U.K. and France. We build a new firm‐level data set that combines a global M&A database with balance sheet data for the years 2000 to 2007. Combining matching techniques with a difference‐in‐differences estimator, we find that cross‐border M&As boost on average acquirers’ domestic sales and investment, and they are not accompanied by a downsizing of the domestic labour force in either country. Further, cross‐border M&As in knowledge‐intensive industries lead to improvements in domestic productivity. Our results display some heterogeneity across industries and types of acquisitions, suggesting a connection between the motives for international M&As and their resulting effects.
TI - The effects of cross‐border M&As on the acquirers’ domestic performance: firm‐level evidence
JF - Canadian Journal of Economics/Revue Canadienne D'économique
DO - 10.1111/j.1540-5982.2011.01662.x
DA - 2011-08-01
UR - https://www.deepdyve.com/lp/wiley/the-effects-of-cross-border-m-as-on-the-acquirers-domestic-performance-xfuagvIVTj
SP - 957
EP - 990
VL - 44
IS - 3
DP - DeepDyve
ER -