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dc.contributor.authorStepanok, Ignaten
dc.date.accessioned2012-02-14-
dc.date.accessioned2012-03-28T13:10:05Z-
dc.date.available2012-03-28T13:10:05Z-
dc.date.issued2010-
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
dc.language.isoengen
dc.publisher|aStockholm School of Economics, The Economic Research Institute (EFI) |cStockholmen
dc.relation.ispartofseries|aSSE/EFI Working Paper Series in Economics and Finance |x731en
dc.subject.jelF12en
dc.subject.jelF23en
dc.subject.jelO41en
dc.subject.ddc330en
dc.subject.keywordForeign direct investmenten
dc.subject.keywordMergersen
dc.subject.keywordGreenfielden
dc.subject.keywordFirm heterogeneityen
dc.subject.stwDirektinvestitionen
dc.subject.stwÜbernahmeen
dc.subject.stwInternationale Markteintrittsstrategieen
dc.subject.stwMultinationales Unternehmenen
dc.subject.stwMonopolistischer Wettbewerben
dc.subject.stwTheorieen
dc.titleCross-border mergers and greenfield foreign direct investment-
dc.typeWorking Paperen
dc.identifier.ppn640488250en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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