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dc.contributor.authorStepanok, Ignaten_US
dc.date.accessioned2012-02-14en_US
dc.date.accessioned2012-03-28T13:10:05Z-
dc.date.available2012-03-28T13:10:05Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/56317-
dc.description.abstractI present a model of international trade and foreign direct investment (FDI), where FDI is comprised of greenfield FDI and mergers and acquisitions (M&A). Working in a monopolistically competitive environment, merging firms do not reduce competition. Mergers are motivated by efficiency gains and transfer of technology and expertise. Following empirical evidence, I model greenfield investors as the more productive group relative to M&A firms. The model has two symmetric countries and generates two-way flows of both M&A and greenfield FDI. Greater proximity to a market makes more firms choose greenfield FDI over M&A when investing there. Empirical evidence supports this result.en_US
dc.language.isoengen_US
dc.publisherEkonomiska Forskningsinst. Stockholmen_US
dc.relation.ispartofseriesSSE/EFI Working Paper Series in Economics and Finance 731en_US
dc.subject.jelF12en_US
dc.subject.jelF23en_US
dc.subject.jelO41en_US
dc.subject.ddc330en_US
dc.subject.keywordForeign direct investmenten_US
dc.subject.keywordMergersen_US
dc.subject.keywordGreenfielden_US
dc.subject.keywordFirm heterogeneityen_US
dc.subject.stwDirektinvestitionen_US
dc.subject.stwÜbernahmeen_US
dc.subject.stwInternationale Markteintrittsstrategieen_US
dc.subject.stwMultinationales Unternehmenen_US
dc.subject.stwMonopolistischer Wettbewerben_US
dc.subject.stwTheorieen_US
dc.titleCross-border mergers and greenfield foreign direct investmenten_US
dc.typeWorking Paperen_US
dc.identifier.ppn640488250en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:SSE/EFI Working Paper Series in Economics and Finance, EFI - The Economic Research Institute, Stockholm School of Economics

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