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dc.contributor.authorArndt, Christianen_US
dc.contributor.authorMattes, Anselmen_US
dc.date.accessioned2010-12-08en_US
dc.date.accessioned2012-04-10T14:04:33Z-
dc.date.available2012-04-10T14:04:33Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/56780-
dc.description.abstractFDI 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.isoengen_US
dc.publisherIAW Tübingenen_US
dc.relation.ispartofseriesIAW-Diskussionspapiere 62en_US
dc.subject.jelF21en_US
dc.subject.jelF23en_US
dc.subject.ddc330en_US
dc.subject.keywordFDIen_US
dc.subject.keywordSpilloveren_US
dc.subject.keywordforeign ownershipen_US
dc.subject.keywordcross-border M&Aen_US
dc.subject.keywordproductivityen_US
dc.subject.keywordemployment effectsen_US
dc.subject.stwMultinationales Unternehmenen_US
dc.subject.stwÜbernahmeen_US
dc.subject.stwFusionen_US
dc.subject.stwDirektinvestitionen_US
dc.subject.stwProduktivitäten_US
dc.subject.stwSpillover-Effekten_US
dc.subject.stwBeschäftigungseffekten_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.titleCross-border mergers and acquisitions of multinational firms: New firm-level evidenceen_US
dc.typeWorking Paperen_US
dc.identifier.ppn64130739Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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