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Institut für Angewandte Wirtschaftsforschung (IAW), Tübingen >
IAW-Diskussionspapiere, Institut für Angewandte Wirtschaftsforschung (IAW) >
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http://hdl.handle.net/10419/56780
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Arndt, Christian | | en_US |
| dc.contributor.author | | Mattes, Anselm | | en_US |
| dc.date.accessioned | | 2010-12-08 | | en_US |
| dc.date.accessioned | | 2012-04-10T14:04:33Z | | - |
| dc.date.available | | 2012-04-10T14:04:33Z | | - |
| dc.date.issued | | 2010 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/56780 | | - |
| dc.description.abstract | | FDI is an important channel for productivity spillovers across economies. But productivity and employment effects of cross-border mergers and acquisitions (M&A) on multinational firms are rather unclear and much disputed. We empirically analyze the effects of cross-border M&A on the performance of multinationals in Germany using new data on the firm-level. In order to control for possible selection biases we use a propensity score matching approach. We find that, first, foreign-owned multinationals are smaller but more productive than their domestic counterparts in the mean. But controlling for differences in the industrial composition and firm size, foreign-owned multinationals are larger in terms of capital, sales, and value added. The difference of total factor productivity amounts to 6 %. Second, multinationals show quite heterogeneous performances after cross-border M&A. Third, we do not find an average causal effect of cross-border M&A on the employment of the acquired multinational firm. But most importantly, the causal effect of cross-border M&A on the multinationals' productivity is positive and significant. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | IAW Tübingen | | en_US |
| dc.relation.ispartofseries | | IAW-Diskussionspapiere 62 | | en_US |
| dc.subject.jel | | F21 | | en_US |
| dc.subject.jel | | F23 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | FDI | | en_US |
| dc.subject.keyword | | Spillover | | en_US |
| dc.subject.keyword | | foreign ownership | | en_US |
| dc.subject.keyword | | cross-border M&A | | en_US |
| dc.subject.keyword | | productivity | | en_US |
| dc.subject.keyword | | employment effects | | en_US |
| dc.subject.stw | | Multinationales Unternehmen | | en_US |
| dc.subject.stw | | Übernahme | | en_US |
| dc.subject.stw | | Fusion | | en_US |
| dc.subject.stw | | Direktinvestition | | en_US |
| dc.subject.stw | | Produktivität | | en_US |
| dc.subject.stw | | Spillover-Effekt | | en_US |
| dc.subject.stw | | Beschäftigungseffekt | | en_US |
| dc.subject.stw | | Schätzung | | en_US |
| dc.subject.stw | | Deutschland | | en_US |
| dc.title | | Cross-border mergers and acquisitions of multinational firms: New firm-level evidence | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 64130739X | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | IAW-Diskussionspapiere, Institut für Angewandte Wirtschaftsforschung (IAW)
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