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https://hdl.handle.net/10419/19674
Kompletter Metadatensatz
DublinCore-Feld | Wert | Sprache |
---|---|---|
dc.contributor.author | Frey, Rainer | en |
dc.contributor.author | Hussinger, Katrin | en |
dc.date.accessioned | 2009-01-28T16:01:55Z | - |
dc.date.available | 2009-01-28T16:01:55Z | - |
dc.date.issued | 2006 | - |
dc.identifier.uri | http://hdl.handle.net/10419/19674 | - |
dc.description.abstract | Technological change is often hypothesized as one of the main drivers of merger activities. This paper analyzes the role of technology in mergers and acquisitions (M&As) at the firm level. Based on a newly created data set that combines financial information and patent data for public limited companies in Europe as well as country level variables, we apply a structural model to investigate technology-related motivations behind merger formation. Distinguishing between cross-border and domestic M&As, we find that technological relatedness of the M&A partners reduces uncertainty and the expected risk of failure associated with cross-border acquisitions significantly, whereas there is no evidence for technological complementarities driving domestic M&As. The relevance of technology for crossborder M&As further illustrates the international character of technology markets. | en |
dc.language.iso | eng | en |
dc.publisher | |aDeutsche Bundesbank |cFrankfurt a. M. | en |
dc.relation.ispartofseries | |aDiscussion Paper Series 1 |x2006,45 | en |
dc.subject.jel | O32 | en |
dc.subject.jel | O34 | en |
dc.subject.jel | G34 | en |
dc.subject.jel | C25 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | domestic versus cross-border M&As | en |
dc.subject.keyword | technological relatedness | en |
dc.subject.keyword | market relatedness | en |
dc.subject.stw | Übernahme | en |
dc.subject.stw | Fusion | en |
dc.subject.stw | Multinationales Unternehmen | en |
dc.subject.stw | Technologie | en |
dc.subject.stw | Patent | en |
dc.subject.stw | Schätzung | en |
dc.subject.stw | Welt | en |
dc.title | The role of technology in M&As: a firm-level comparison of cross-border and domestic deals | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 523082851 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:zbw:bubdp1:5194 | en |
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