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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/19066
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| Title: | | Cross-border mergers and acquisitions : on revealed comparative advantage and merger waves  |
| Authors: | | Brakman, Steven Garretsen, Harry van Marrewijk, Charles |
| Issue Date: | | 2005 |
| Series/Report no.: | | CESifo working papers 1602 |
| Abstract: | | 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 |
| Subjects: | | comparative advantage cross border mergers and acquisitions merger waves general oligopolistic equilibrium model |
| JEL: | | L13 F12 F10 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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