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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/3803| Title: | Cross-border mergers and acquisitions and the role of trade costs |
| Keywords: | F02 F15 F21 F23 ddc:330 mergers and acquisitions international trade trade costs gravity FDI Direktinvestition Übernahme Außenhandelsbeschränkung Volkswirtschaftlicher Schaden OECD-Staaten |
| Issue Date: | 16-Oct-2013 |
| Publisher: | Europ. Comm., Directorate-General for Economic and Financial Affairs Brussels |
| Description: | 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 both the number and the value of cross-border mergers and acquisitions. In particular, we distinguish horizontal and non-horizontal M&As and investigate whether distance and trade policy barriers 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. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/3803 |
| Other Identifiers: | urn:isbn:9279011839 http://hdl.handle.net/10419/3803 ppn:510170099 |
| Appears in Collections: | EconStor |
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