Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/73150
Authors: 
Weche Gelübcke, John P.
Year of Publication: 
2012
Series/Report no.: 
University of Lüneburg Working Paper Series in Economics 249
Abstract: 
This study provides the first comparative evidence of foreign and domestic acquisitions in Germany. A propensity score matching approach combined with a difference-in-difference estimator were performed separately for foreign and domestic acquisitions to account for a general takeover effect. The study is based on new high-quality panel data for manufacturing enterprises, provided by German official statistics. The results indicate a negative impact of foreign takeovers on employment and no productivity improvements for the period 2007 to 2009. This evidence contradicts existing empirical studies for Germany which find significant productivity improvements and no changes in terms of employment. These findings are of particular interest to Germany as one of the most important FDI in ow destinations worldwide. They contribute to the foreign ownership performance premium literature as well as improving the understanding of foreign acquisition consequences, a subject of utmost topicality.
Subjects: 
post-acquisition performance
foreign takeover
manufacturing
treatment analysis
Germany
JEL: 
F21
F23
G34
Document Type: 
Working Paper

Files in This Item:
File
Size
347.08 kB





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