Publication
Title
Cross-border merger & acquisition activity and revealed comparative advantage in manufacturing industries
Author
Abstract
We estimate an important implication of oligopolistic international trade modeling for the predicted pattern of cross-border mergers and acquisitions (M&As). Our core argument is that cross-border M&As are, among other factors, driven by cross-country differences in comparative advantage.We find strong evidence that acquiring firms operate in industries with a comparative advantage. We also report (less pronounced) evidence that this holds for target firms as well. We therefore add another explanation, rooted in international economics, to the industrial organization literature on M&As that emphasizes efficiency and strategic motives.
Language
English
Source (journal)
Journal of economics & management strategy. - Cambridge, Mass.
Publication
Cambridge, Mass. : 2013
ISSN
1058-6407 [print]
1530-9134 [online]
Volume/pages
22:1(2013), p. 28-57
ISI
000317286100002
Full text (Publishers DOI)
Full text (publishers version - intranet only)
UAntwerpen
Faculty/Department
Research group
Publication type
Subject
Affiliation
Publications with a UAntwerp address
External links
Web of Science
Record
Identification
Creation 30.05.2013
Last edited 06.03.2017
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