Konferenzbeitrag
Cross-Border M&A and Innovative Activity: Firm-Level Evidence
This paper provides empirical evidence on the relationship between cross-border mergers and acquisitions (M&A) and innovation. For the empirical analysis a unique firm-level data set is constructed that combines balance sheet data and an M&A database with information on patent applications. Within three years after a cross-border M&A, patent applications filed by the merged entity increase by more than 30%. Splitting patent applications by the inventors country it is found that the positive association with post-merger patenting is mainly driven by patents invented in the countries of the acquirers headquarter and its previous subsidiaries. In contrast, there is on average a decrease in patent applications invented in the targets country of more than 60%. Accounting for endogeneity of international acquisitions by estimating dynamic count data models and applying instrumental variable techniques, the results indicate that part of this correlation stems from a causal effect.
- Sprache
-
Englisch
- Erschienen in
-
Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2012: Neue Wege und Herausforderungen für den Arbeitsmarkt des 21. Jahrhunderts - Session: Firm Behavior - Empirical ; No. G19-V1
- Klassifikation
-
Wirtschaft
Firm Behavior: Empirical Analysis
Multinational Firms; International Business
Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
- Ereignis
-
Geistige Schöpfung
- (wer)
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Stiebale, Joel
- Ereignis
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Veröffentlichung
- (wann)
-
2012
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Konferenzbeitrag
Beteiligte
- Stiebale, Joel
Entstanden
- 2012
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