Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/24524 
Full metadata record
DC FieldValueLanguage
dc.contributor.authorFrey, Raineren
dc.contributor.authorHussinger, Katrinen
dc.date.accessioned2009-02-16T14:57:05Z-
dc.date.available2009-02-16T14:57:05Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/24524-
dc.description.abstractTechnological 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 firms 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 cross-border M&As further illustrates the international character of technology markets.en
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x06-069en
dc.subject.jelO34en
dc.subject.jelO32en
dc.subject.jelC25en
dc.subject.jelG34en
dc.subject.ddc330en
dc.subject.keyworddomestic versus cross-border M&Asen
dc.subject.keywordtechnological relatednessen
dc.subject.keywordmarket relatednessen
dc.titleThe Role of Technology in M&As: A Firm Level Comparison of Cross-Border and Domestic Deals-
dc.typeWorking Paperen
dc.identifier.ppn519033574en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:5463en

Files in This Item:
File
Size
477.44 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.