EconStor >
Zentrum für Europäische Wirtschaftsforschung (ZEW), Mannheim >
ZEW Discussion Papers >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/24732
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorHussinger, Katrinen_US
dc.contributor.authorGrimpe, Christophen_US
dc.coverage.temporal1997-2003en_US
dc.date.accessioned2009-02-16T15:09:25Z-
dc.date.available2009-02-16T15:09:25Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/24732-
dc.description.abstractFirm acquisitions have been shown to serve as a way to gain access to international markets, technological assets, products or other valuable resources of the target firm. Given this heterogeneity of takeover motivations and the skewness of the distribution of the deal value we show whether and how the importance of different takeover motivations changes along the deal value distribution. Based on a comprehensive dataset of 652 European mergers and acquisitions in the period from 1997 to 2003, we use quantile regressions to decompose the deal value at different points of its distribution. Our results indicate that the importance of technological assets is indeed higher for smaller target firms. The findings support the view on small acquisition targets to complement the acquirer?s technology portfolio while larger acquisition targets tend to be used to gain access to international markets.en_US
dc.language.isoengen_US
dc.publisherZentrum für Europäische Wirtschaftsforschung (ZEW) Mannheimen_US
dc.relation.ispartofseriesZEW Discussion Papers 08-037en_US
dc.subject.jelG34en_US
dc.subject.jelL20en_US
dc.subject.jelO34en_US
dc.subject.ddc330en_US
dc.subject.keywordFirm acquisitionsen_US
dc.subject.keywordtechnological assetsen_US
dc.subject.keywordmarket accessen_US
dc.subject.keywordquantile regressionen_US
dc.subject.stwÜbernahmeen_US
dc.subject.stwFusionen_US
dc.subject.stwWettbewerbsstrategieen_US
dc.subject.stwInternationale Markteintrittsstrategieen_US
dc.subject.stwTechnologietransferen_US
dc.subject.stwWissenstransferen_US
dc.subject.stwEU-Staatenen_US
dc.titleMarket and Technology Access Through Firm Acquisitions: Beyond One Size Fits Allen_US
dc.typeWorking Paperen_US
dc.identifier.ppn570408091en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zewdip:7309-
Appears in Collections:ZEW Discussion Papers
Publikationen von Forscherinnen und Forschern des ZEW

Files in This Item:
File Description SizeFormat
dp08037.pdf281.12 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.