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The Impact of European Integration on the Nineties’ Wave of Mergers and Acquisitions

  • Delannay, Anne-France

    ()

    (Université Robert Schuman)

  • Méon, Pierre-Guillaume

    (University of Brussels)

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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Article provided by Center for Economic Integration, Sejong University in its journal Journal of Economic Integration.

Volume (Year): 21 (2006)
Issue (Month): ()
Pages: 426-446

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Handle: RePEc:ris:integr:0363
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