Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212388 
Year of Publication: 
2017
Series/Report no.: 
Bank of Finland Research Discussion Papers No. 17/2017
Publisher: 
Bank of Finland, Helsinki
Abstract: 
We investigate the impacts of improved intellectual property rights (IPR) protection on cross-border M&A performance. Using multiple measures of IPR protection and based on generalized difference-in-differences estimates, we find that countries with better IPR protection attract significantly more hi-tech cross-border M&A activity, particularly in developing economies. Moreover, acquirers pay higher premiums for companies in countries with better IPR protection, and there is a significantly higher acquirer announcement effect associated with these hi-tech transactions.
JEL: 
G32
G34
O31
O34
F43
C23
Persistent Identifier of the first edition: 
ISBN: 
978-952-323-174-0
Document Type: 
Working Paper

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