Cross-border mergers and acquisitions : on revealed comparative advantage and merger waves

Arbeitspapier

By combining two large data sets (on international trade flows and on mergers and acquisitions – M&As), we are able to test two implications of Neary's (2003, 2004a) recent theoretical work. Analyzing M&As in a General Oligopolistic Equilibrium (GOLE) model incorporating strategic interaction between firms in a general equilibrium setting, we argue that: (i) M&As follow revealed comparative advantage as measured by the Balassa index, and (ii) M&As come in waves. We find convincing support for both hypotheses, thus showing for the first time that there is an empirical connection between export performance and mergers and acquisitions

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: CESifo Working Paper ; No. 1602

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Oligopoly and Other Imperfect Markets ; Models of Trade with Imperfect Competition and Scale Economies; Fragmentation ; Trade: General
• Thema: comparative advantage ; cross border mergers and acquisitions ; merger waves ; general oligopolistic equilibrium model ; Multinationales Unternehmen ; Fusion ; Übernahme ; Komparativer Kostenvorteil ; Oligopol ; Allgemeines Gleichgewicht ; Schätzung ; Welt

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Brakman, Steven ; Garretsen, Harry ; van Marrewijk, Charles
• Ereignis: Veröffentlichung
• (wer): Center for Economic Studies and ifo Institute (CESifo)
• (wo): Munich
• (wann): 2005

Weitere Informationen

• Handle: http://hdl.handle.net/10419/19066
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ