within the firm. The welfare analysis illustrates that larger countries are better off after the merger. By contrast, smaller … countries may lose, if the pre-merger production cost differential across firms is negligible and/or a post-merger technology … effects of a merger. In this respect, the main result of the paper is that an adjustment of plant location in space can …

do not necessarily distort international ownership patterns. Moreover, tax competition yields globally efficient levels …

We analyze the impact of a merger on firms' incentives to innovate. We show that the merging parties always decrease … their innovation efforts post-merger while the outsiders to the merger respond by increasing their effort. A merger tends to … reduce overall innovation. Consumers are always worse off after a merger. Our model calls into question the applicability of …

In this paper we compare the profitability of a merger to the profitability of a partial ownership arrangement and find …

Using a detailed and large data set on cross-border merger and acquisitions we discuss the relationship between theory …-seeking', (iii) M&As come in waves (the most recent wave is still unfolding), (iv) economic integration (international deregulation … stylized facts drive and should drive recent theoretical contributions in the field of international economics that try to …

differential merger outcomes are caused mostly by firms' technology or product market attributes. Furthermore, empirical merger …. We allow the merger responses to vary across firms, even after controlling for regressors, and apply a random …