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The impact of European integration on the nineties' wave of mergers and acquisitions

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  • Pierre-Guillaume Méon
  • Anne-France Delannay

Abstract

The present paper applies a gravity model with fixed country effects to M&A flows on a sample of 1215 pairs of countries over the 1998-2001 period, to test the impact of European integration. That model, which had to our knowledge not been applied to M&A flows so far, allows us to observe that the participation of two countries in the process of European integration is associated with a smaller negative impact of distance on those countries’ bilateral M&A flows. We observe no such effect for the EMU however.

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Bibliographic Info

Paper provided by ULB -- Universite Libre de Bruxelles in its series ULB Institutional Repository with number 2013/8366.

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Date of creation: Sep 2006
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Publication status: Published in: Journal of international economic integration (2006) v.21 n° 3,p.427-446
Handle: RePEc:ulb:ulbeco:2013/8366

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