Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/100640
Authors: 
Furlan, Benjamin
Oberhofer, Harald
Winner, Hannes
Year of Publication: 
2014
Series/Report no.: 
Working Papers in Economics and Finance, University of Salzburg 2014-02
Abstract: 
This note proposes the continuous treatment approach as a valuable alternative to propensity score matching for evaluating economic effects of merger and acquisitions (M&A). This framework allows to consider the variation in treatment intensities explicitly, and it does not call for the definition of cut-off values in traded ownership shares in order to construct a binary treatment indicator. We demonstrate the usefulness of this approach using data from European M&As and by relying on the example of post-M&A employment effects.
Subjects: 
Merger and acquisition evaluation
continuous treatment models
generalized propensity score matching
employment effects
JEL: 
C21
G34
L25
Document Type: 
Working Paper

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