کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5067597 1372608 2008 18 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Cross-border mergers and acquisitions and the role of trade costs
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Cross-border mergers and acquisitions and the role of trade costs
چکیده انگلیسی

Cross-border mergers and acquisitions (M&As) have increased dramatically over the last two decades. This paper analyses the role of trade costs in explaining the increase in the number of cross-border M&As. In particular, we distinguish horizontal and non-horizontal M&As and investigate whether trade costs affect these two types of mergers differently. We analyse this question using industry data for 23 OECD countries for the period 1990-2001. Our findings suggest that while in the aggregate trade costs affect cross-border merger activity negatively its impact differs importantly across horizontal and non-horizontal mergers. The impact of trade costs is less negative for horizontal mergers, which is consistent with the tariff-jumping argument.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: European Economic Review - Volume 52, Issue 5, July 2008, Pages 849-866
نویسندگان
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