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Cross-Border M&As and the Changing Economic Geography of Europe

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  • Hans-Martin Zademach
  • Andrés Rodríguez-Pose

Abstract

This study investigates the patterns of corporate mergers and acquisitions (M&As) involving firms located in the EU25 as well as in the four EFTA countries between 1998 and 2003. Against the background of a reflection on the concept of the firm in economic geography, it uncovers the cross-border balance of M&As across European states and identifies the factors that may explain the levels and patterns of corporate takeovers across Europe. The results indicate that the traditional motives of access to new and core markets, the effects of geographical proximity, and the internalisation of localised capabilities (proxied by a skilled and innovative labour pool) represent the key drivers of European M&As, while institutional factors, such as European integration or language barriers, appear to be less influential.

Suggested Citation

  • Hans-Martin Zademach & Andrés Rodríguez-Pose, 2008. "Cross-Border M&As and the Changing Economic Geography of Europe," European Planning Studies, Taylor & Francis Journals, vol. 17(5), pages 765-789, January.
  • Handle: RePEc:taf:eurpls:v:17:y:2008:i:5:p:765-789
    DOI: 10.1080/09654310902778276
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    References listed on IDEAS

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    1. Bertrand, Olivier & Mucchielli , Jean-Louis, 2007. "Location Choices of Multinational Firms: The Case of Mergers and Acquisitions," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 22, pages 181-209.
    2. Bertrand, Olivier & Mucchielli, Jean-Louis & Zitouna, Habib, 2004. "Location Choices of Multinational Firms: The Case of Mergers and Acquisitions," Discussion Paper Series 26170, Hamburg Institute of International Economics.
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    Cited by:

    1. Heywood, John S. & McGinty, Matthew, 2011. "Cross-border mergers in a mixed oligopoly," Economic Modelling, Elsevier, vol. 28(1), pages 382-389.

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