Foreign Acquisitions and Firm-Level Financial Risk
AbstractThis paper examines the impact of foreign and domestic acquisitions on firm-level financial risk in Italy and Spain over the period 2002-2010. Our results indicate that foreign acquisition leads to a significant and steady reduction in financial risk. In contrast, the domestic acquisition effects are smaller and statistically less robust.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University of Nottingham, GEP in its series Discussion Papers with number 2013-08.
Date of creation: 2013
Date of revision:
Contact details of provider:
Postal: School of Economics University of Nottingham University Park Nottingham NG7 2RD
Phone: (44) 0115 951 5620
Fax: (0115) 951 4159
Web page: http://www.nottingham.ac.uk/gep/index.aspx
More information through EDIRC
financial risk; acquisitions; foreign investment;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-11-22 (All new papers)
- NEP-IFN-2013-11-22 (International Finance)
- NEP-RMG-2013-11-22 (Risk Management)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Patrick Musso & Stefano Schiavo, 2008.
"The impact of financial constraints on firm survival and growth,"
Journal of Evolutionary Economics, Springer,
Springer, vol. 18(2), pages 135-149, April.
- Patrick Musso & Stefano Schiavo, 2007. "The Impact of Financial Constraints on Firms Survival and Growth," Sciences Po publications, Sciences Po 2007-37, Sciences Po.
- Patrick Musso & Stefano Schiavo, 2007. "The Impact of Financial Constaints on Firm Survival and Growth," Documents de Travail de l'OFCE, Observatoire Francais des Conjonctures Economiques (OFCE) 2007-37, Observatoire Francais des Conjonctures Economiques (OFCE).
- Alexander Hijzen & Pedro S. Martins & Thorsten Schank & Richard Upward, .
"Do foreign-owned firms provide better working conditions than their domestic counterparts? A comparative analysis,"
Discussion Papers, University of Nottingham, GEP
10/21, University of Nottingham, GEP.
- Hijzen, Alexander & Martins, Pedro S. & Schank, Thorsten & Upward, Richard, 2013. "Foreign-owned firms around the world: A comparative analysis of wages and employment at the micro-level," European Economic Review, Elsevier, Elsevier, vol. 60(C), pages 170-188.
- Hijzen, Alexander & Martins, Pedro S. & Schank, Thorsten & Upward, Richard, 2010. "Do Foreign-Owned Firms Provide Better Working Conditions Than Their Domestic Counterparts? A Comparative Analysis," IZA Discussion Papers 5259, Institute for the Study of Labor (IZA).
- Kalina Manova & Shang-Jin Wei & Zhiwei Zhang, 2011. "Firm Exports and Multinational Activity Under Credit Constraints," NBER Working Papers 16905, National Bureau of Economic Research, Inc.
- Benfratello, Luigi & Sembenelli, Alessandro, 2006.
"Foreign ownership and productivity: Is the direction of causality so obvious?,"
International Journal of Industrial Organization, Elsevier,
Elsevier, vol. 24(4), pages 733-751, July.
- Luigi Benfratello & Alessandro Sembenelli, 2002. "Foreign Ownership and Productivity: is the Direction of Causality so Obvious?," Development Working Papers, Centro Studi Luca d\'Agliano, University of Milano 166, Centro Studi Luca d\'Agliano, University of Milano.
- Almeida, Rita, 2007.
"The labor market effects of foreign owned firms,"
Journal of International Economics, Elsevier,
Elsevier, vol. 72(1), pages 75-96, May.
- Rita Almeida, 2004. "The labor market effects of foreign-owned firms," Policy Research Working Paper Series, The World Bank 3300, The World Bank.
- Martynova, M. & Renneboog, L.D.R., 2006.
"Mergers and Acquisitions in Europe,"
Discussion Paper, Tilburg University, Center for Economic Research
2006-6, Tilburg University, Center for Economic Research.
- Martynova, M. & Renneboog, L.D.R., 2006. "Mergers and Acquisitions in Europe," Discussion Paper, Tilburg University, Tilburg Law and Economic Center 2006-003, Tilburg University, Tilburg Law and Economic Center.
- Robert E. Carpenter & Bruce C. Petersen, 2002. "Is The Growth Of Small Firms Constrained By Internal Finance?," The Review of Economics and Statistics, MIT Press, MIT Press, vol. 84(2), pages 298-309, May.
- Georgios Efthyvoulou & Priit Vahter, 2012. "Financial Constraints, Innovation Performance and Sectoral Disaggregation," Working Papers, The University of Sheffield, Department of Economics 2012030, The University of Sheffield, Department of Economics.
- Richard Blundell & Monica Costa Dias, 2000. "Evaluation methods for non-experimental data," Fiscal Studies, Institute for Fiscal Studies, Institute for Fiscal Studies, vol. 21(4), pages 427-468, January.
- Richard Harris & Catherine Robinson, 2003. "Foreign Ownership and Productivity in the United Kingdom Estimates for U.K. Manufacturing Using the ARD," Review of Industrial Organization, Springer, Springer, vol. 22(3), pages 207-223, May.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Hilary Hughes).
If references are entirely missing, you can add them using this form.