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We analyze the microeconomic determinants of cross-border bank acquisitions in 16 transition economies over the period … less efficient banks. This result is in line with the efficiency hypothesis. -- Cross-border bank acquisitions ; latent …
Persistent link: https://www.econbiz.de/10003749434
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Repatriation taxes reduce the competitiveness of multinational firms from tax credit countries when bidding for targets in low tax countries. This comparative disadvantage with respect to bidders from exemption countries violates ownership neutrality, which results in production inefficiencies...
Persistent link: https://www.econbiz.de/10010199701
By combining two large data sets (on international trade flows and on mergers and acquisitions M&As), we are able to …
Persistent link: https://www.econbiz.de/10003204045
This paper presents a broad retrospective evaluation of mergers and merger decisions in the digital sector. We first … theories of harm in major merger cases in the past few years. We then analyse the characteristics of almost 300 acquisitions … important merger cases, Facebook/Instagram and Google/Waze, providing a systematic assessment of the theories of harm considered …
Persistent link: https://www.econbiz.de/10012138666
-level uncertainty is characterized by a pecking order: the announcement of a domestic takeover leads to a reduction in the uncertainty …
Persistent link: https://www.econbiz.de/10012158166
profit shifting channels different from those of other firms. We propose a novel and bank-specific method of profit shifting … bank, we show that a one percentage point lower corporate tax rate increases banks'fixed-income trading assets by 4.0% and …
Persistent link: https://www.econbiz.de/10011723340
We study the effects of financial sanctions on cross-border credit supply. Using a differences-in-differences approach to analyze eleven sanctions episodes between 2002 and 2015, we find that banks located in Germany reduce their positions in countries with sanctioned entities by 38%. The...
Persistent link: https://www.econbiz.de/10011952047
access to the rest of the world (through transport hubs) are key drivers for target selection. …
Persistent link: https://www.econbiz.de/10010515424