Does Geography Play a Role in Domestic Takeovers? Theory and Finnish Micro-level Evidence

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Does Geography Play a Role in Domestic Takeovers? Theory and Finnish Micro-level Evidence

Author Info

Petri Böckerman (Labour Institute for Economic Research)
Eero Lehto (Labour Institute for Economic Research)

Additional information is available for the following registered author(s):

Petri Böckerman

Abstract

This paper explores domestic mergers and acquisitions (M&As) from the regional perspective. The Finnish firm-level evidence reveals that geographical closeness matters a lot for M&As within a single country. Thus, a great number of domestic M&As occur within narrowly defined regions. Interestingly, domestic M&As reinforce the core-periphery dimension. The results from matched firm-level data show that the strong ability by an acquiring company to monitor the target (measured by the knowledge embodied in human capital) is able to support M&As that occur across distant locations.

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Paper provided by EconWPA in its series Urban/Regional with number 0505002.

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Length: 33 pages
Date of creation: 13 May 2005
Date of revision:
Handle: RePEc:wpa:wuwpur:0505002

Note: Type of Document - pdf; pages: 33
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Paper
- Petri Böckerman & Eero Lehto, 2005. "Does Geography Play a Role in Domestic Takeovers? Theory and Finnish Micro-level Evidence," Urban/Regional 0505003, EconWPA. [Downloadable!]

Find related papers by JEL classification:
G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
R12 - Urban, Rural, and Regional Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

This paper has been announced in the following NEP Reports:

NEP-ACC-2005-05-23 (Accounting & Auditing)
NEP-ALL-2005-05-23 (All new papers)
NEP-COM-2005-05-23 (Industrial Competition)
NEP-GEO-2005-05-23 (Economic Geography)
NEP-URE-2005-05-23 (Urban & Real Estate Economics)

References listed on IDEAS
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