Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/101326 
Autor:innen: 
Erscheinungsjahr: 
2014
Schriftenreihe/Nr.: 
DICE Discussion Paper No. 158
Verlag: 
Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE), Düsseldorf
Zusammenfassung: 
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.
Schlagwörter: 
Multinational Enterprises
Mergers and Acquisitions
Innovation
JEL: 
F23
D22
G34
O31
ISBN: 
978-3-86304-157-1
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
441.77 kB





Publikationen in EconStor sind urheberrechtlich geschützt.