Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/168064
Authors: 
Wößner, Nicole
Stiebale, Joel
Year of Publication: 
2017
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2017: Alternative Geld- und Finanzarchitekturen - Session: Empirical Industrial Organization IV G13-V2
Abstract: 
We use a panel data set of European firms to analyze the effects of domestic and international M&As on target firms' investment and financial constraints. Combining propensity score matching with a difference-in-differences estimator, our results show that upon acquisition, target firms obtain better access to external finance, are characterized by higher levels of tangible and intangible assets, and display lower dependence of investments and cash savings to the availability of internal funds.
JEL: 
G34
Document Type: 
Conference Paper

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