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Highly-skilled migrants and Cross-border M&A: Firm-level evidence

Author

Listed:
  • F. Lissoni

    (GREThA - Groupe de Recherche en Economie Théorique et Appliquée - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique)

  • D. Useche
  • E. Miguelez

    (GREThA - Groupe de Recherche en Economie Théorique et Appliquée - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique)

Abstract

Based on a relational view of international business, we investigate the role of migrant inventors in cross-border mergers and acquisitions undertaken by R&D-active firms. We hypothesize that the migrant inventors' international social networks can be leveraged by their employers in order to identify and/or integrate relevant knowledge bases of acquisition targets in the inventors' home country. We nuance our hypothesis by means of several conditional logistic regressions on a large matched sample of deals and control cases. The impact of migrant inventors increases with the distance between countries and for targets located in countries with weak administrative/legal systems, as well as when targets are either innovative or belong to high-tech sectors or to the same sector as the acquirer, and for full versus partial acquisitions.

Suggested Citation

  • F. Lissoni & D. Useche & E. Miguelez, 2020. "Highly-skilled migrants and Cross-border M&A: Firm-level evidence," Post-Print hal-02271307, HAL.
    • Handle: RePEc:hal:journl:hal-02271307
    DOI: 10.1057/s41267-018-0203-3
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    Citations

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    Cited by:

    1. Ernest Miguelez & Julio Raffo & Christian Chacua & Massimiliano Coda-Zabetta & Deyun Yin & Francesco Lissoni & Gianluca Tarasconi, 2019. "Tied In: The Global Network of Local Innovation," WIPO Economic Research Working Papers 58, World Intellectual Property Organization - Economics and Statistics Division.
    2. Diego Useche & Sophie Pommet, 2021. "Where do we go? VC firm heterogeneity and the exit routes of newly listed high-tech firms," Small Business Economics, Springer, vol. 57(3), pages 1339-1359, October.
    3. Horatio M. Morgan & Sui Sui & Shavin Malhotra, 2021. "No place like home: The effect of exporting to the country of origin on the financial performance of immigrant-owned SMEs," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(3), pages 504-524, April.
    4. Miguelez, Ernest & Noumedem Temgoua, Claudia, 2020. "Inventor migration and knowledge flows: A two-way communication channel?," Research Policy, Elsevier, vol. 49(9).
    5. Chengguang Li & Ilgaz Arikan & Oded Shenkar & Asli Arikan, 2020. "The impact of country-dyadic military conflicts on market reaction to cross-border acquisitions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(3), pages 299-325, April.
    6. Marino, Alba & Mudambi, Ram & Perri, Alessandra & Scalera, Vittoria G., 2020. "Ties that bind: Ethnic inventors in multinational enterprises’ knowledge integration and exploitation," Research Policy, Elsevier, vol. 49(9).
    7. Diego Useche & Sophie Pommet, 0. "Where do we go? VC firm heterogeneity and the exit routes of newly listed high-tech firms," Small Business Economics, Springer, vol. 0, pages 1-21.
    8. Mahroum, Sami & Zahradnik, Georg & Dachs, Bernhard, 2017. "Ethnic Inventors: A Critical Survey of the Contribution of People of Middle Eastern Ethnic Backgrounds to the US Innovation System," MPRA Paper 77869, University Library of Munich, Germany.

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