Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/37013
Authors: 
Stiebale, Joel
Trax, Michaela
Year of Publication: 
2010
Series/Report no.: 
Ruhr economic papers 159
Abstract: 
This paper provides empirical evidence on the effects of cross-border M&As on investing firms' domestic performance in the U.K. and France. We build a new firm-level dataset that combines a global M&A database with balance sheet data for the years 2000-2007. Combining matching techniques with a difference-in-differences estimator, we find that cross-border deals boost on average domestic employment, sales, and investment, and they are not accompanied by a downsizing of the domestic labor force in neither of both countries. Further, acquisitions in knowledge-intensive industries lead to improvements in domestic productivity. Our results display some heterogeneity across industries and types of acquisitions, suggesting a connection between the motives for international acquisitions and their resulting effects.
Subjects: 
F23
G34
L23
D24
JEL: 
F23
G34
L23
D24
ISBN: 
978-3-86788-178-4
Document Type: 
Working Paper

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