Barattieri, Alessandro, Borchert, Ingo and Mattoo, Aaditya (2016) Cross-border mergers and acquisitions in services: the role of policy and industrial structure. Canadian Journal of Economics, 49 (4). pp. 1470-1501. ISSN 0008-4085
Full text not available from this repository.Abstract
This paper explores the role of policy and economic structure in determining international mergers and acquisitions (M&A) in services sectors. The analysis is based on bilateral sectoral M&A flow data and detailed information on policy barriers from a new database. Restrictive investment policies are found to reduce the probability of M&A inflows, controlling for bilateral frictions such as geography. This negative effect, however, is mitigated in countries with relatively large shares of manufacturing and (to a lesser extent) services in GDP. The same result holds for the number of M&A deals concluded. Findings are robust to accounting for the potential endogeneity of policy restrictiveness. The evidence suggests that the impact of policy is state-dependent and related to the composition of GDP in the target economy.
Item Type: | Article |
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Schools and Departments: | University of Sussex Business School > Economics |
Subjects: | H Social Sciences |
Depositing User: | Tahir Beydola |
Date Deposited: | 08 Dec 2015 15:05 |
Last Modified: | 23 Mar 2018 16:31 |
URI: | http://sro.sussex.ac.uk/id/eprint/58756 |