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Kompletter Metadatensatz
DublinCore-Feld | Wert | Sprache |
---|---|---|
dc.contributor.author | Frey, Rainer | en |
dc.contributor.author | Hussinger, Katrin | en |
dc.date.accessioned | 2009-02-16T14:57:05Z | - |
dc.date.available | 2009-02-16T14:57:05Z | - |
dc.date.issued | 2006 | - |
dc.identifier.uri | http://hdl.handle.net/10419/24524 | - |
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 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.iso | eng | en |
dc.publisher | |aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheim | en |
dc.relation.ispartofseries | |aZEW Discussion Papers |x06-069 | en |
dc.subject.jel | O34 | en |
dc.subject.jel | O32 | en |
dc.subject.jel | C25 | en |
dc.subject.jel | G34 | 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.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 | 519033574 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:zbw:zewdip:5463 | en |
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