IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

The Perfect Match: Assortative Matching in International Acquisitions

  • Veronica Rappoport

    (London School of Economics)

  • Catherine Thomas

    (London School of Economics)

  • Bernard Salanie

    (Columbia University)

  • Maria Guadalupe

    (INSEAD)

This paper empirically characterizes the matching between firms in domestic and cross-border mergers and acquisitions (M&A). The analysis is guided by a theoretical framework constructed following the premises of the new trade theory. It assumes that firms are heterogeneous, within the industry and country of origin, in two characteristics: productivity and size. By a revealed preference argument, if an acquisition takes place, it signals the existence of synergies between the characteristics of two firms. We estimate the sources of synergies between merged firms based on data on domestic and international M&A for five large European countries, France, Germany, Italy, U.K., and Spain, collected by Zephyr between 1997 and 2011. The estimated model is used to compute the effect of FDI on the resulting host country productivity and size distribution of firms.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: https://www.economicdynamics.org/meetpapers/2013/paper_1000.pdf
Download Restriction: no

Paper provided by Society for Economic Dynamics in its series 2013 Meeting Papers with number 1000.

as
in new window

Length:
Date of creation: 2013
Date of revision:
Handle: RePEc:red:sed013:1000
Contact details of provider: Postal: Society for Economic Dynamics Christian Zimmermann Economic Research Federal Reserve Bank of St. Louis PO Box 442 St. Louis MO 63166-0442 USA
Fax: 1-314-444-8731
Web page: http://www.EconomicDynamics.org/society.htm
Email:


More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Ariel Burstein & Alexander Monge-Naranjo, 2007. "Foreign Know-How, Firm Control, and the Income of Developing Countries," NBER Working Papers 13073, National Bureau of Economic Research, Inc.
  2. Natalia Ramondo & Andr�s Rodr�guez-Clare, 2013. "Trade, Multinational Production, and the Gains from Openness," Journal of Political Economy, University of Chicago Press, vol. 121(2), pages 273 - 322.
  3. Ellen R McGrattan & Edward C Prescott, 2008. "Technology Capital and the U.S. Current Account," Levine's Bibliography 122247000000001827, UCLA Department of Economics.
  4. Elhanan Helpman & Marc J. Melitz & Stephen R. Yeaple, 2004. "Export Versus FDI with Heterogeneous Firms," American Economic Review, American Economic Association, vol. 94(1), pages 300-316, March.
  5. Blonigen, Bruce A. & Fontagné, Lionel & Sly, Nicholas & Toubal, Farid, 2014. "Cherries for sale: The incidence and timing of cross-border M&A," Journal of International Economics, Elsevier, vol. 94(2), pages 341-357.
  6. Nocke, Volker & Yeaple, Stephen, 2007. "Cross-border mergers and acquisitions vs. greenfield foreign direct investment: The role of firm heterogeneity," Journal of International Economics, Elsevier, vol. 72(2), pages 336-365, July.
  7. Joel David, 2012. "The Aggregate Implications of Mergers and Acquisitions," 2012 Meeting Papers 1178, Society for Economic Dynamics.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:red:sed013:1000. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christian Zimmermann)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.