Konferenzbeitrag
Cross-Border M&As and Innovative Activity of Acquiring and Target Firms
This paper analyzes the effects of cross-border mergers and acquisitions (M&As) on the innovation of European firms. The results indicate a considerable increase in post-acquisition innovation in the merged entity. This is mainly driven by inventors based in the acquirer's country, while innovation in the target's country tends to decline. The asymmetry of effects between acquiring and target firms increases with pre-acquisition differences in knowledge stocks, indicating a relocation of innovative activities towards more efficient usage within multinational firms. Instrumental variable techniques as well as a propensity-score matching approach indicate that the effect of cross-border M&As on innovation is causal.
- Language
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Englisch
- Bibliographic citation
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Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2015: Ökonomische Entwicklung - Theorie und Politik - Session: Multinational Firms ; No. F05-V1
- Classification
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Wirtschaft
Multinational Firms; International Business
Firm Behavior: Empirical Analysis
Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
- Event
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Geistige Schöpfung
- (who)
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Stiebale, Joel
- Event
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Veröffentlichung
- (when)
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2015
- Handle
- Last update
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10.03.2025, 11:45 AM CET
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Konferenzbeitrag
Associated
- Stiebale, Joel
Time of origin
- 2015
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