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M&A investments. Based on a novel firm-level dataset on German outbound FDI, we find evidence that location decisions of … finding is consistent with a (partial) capitalisation of taxes in the acquisition price when the FDI project takes the form of … M&A. -- FDI ; corporate taxation ; location ; M&A ; Greenfield …
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This paper considers the effect of acquisition FDI on the knowledge production function. We distinguish between … complementarities in the knowledge assets of the MNE and the target firm as a reason for FDI. In contrast, consistent with technology … sourcing FDI, acquisitions from non-leading countries increase internal R&D efforts. -- MNE ; knowledge production function …
Persistent link: https://www.econbiz.de/10009503803
The research on the location choice for Foreign Direct Investment (FDI) is traditionally restricted to a choice between … considered it is mostly limited to Greenfield investments. The vast majority of FDI, however, takes place in the form of cross …-border Mergers & Acquisitions (M&As), and for this form of FDI (empirical) research on location choice within countries has been …
Persistent link: https://www.econbiz.de/10010515424
We study a multinational enterprise's (MNE) choice of foreign direct investment (FDI) mode in a vertically related … among FDI modes as well as among markets with more or less dependence on backward linkages. …
Persistent link: https://www.econbiz.de/10010238336
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
We conduct an empirical investigation into the effects of foreign ownership on worker skills using firm-level data from Spain. To control for endogeneity bias due to selection into foreign ownership, we combine a difference-in-differences approach with a propensity score weighting estimator. Our...
Persistent link: https://www.econbiz.de/10011929606
In contrast to empirical evidence, recent theories of cross-border mergers and acquisitions (M&As) assume perfect knowledge transfers - from high to low productivity firms - between acquirer and target. Using the Melitz (2003) model of heterogeneous firms, we develop a matching model of...
Persistent link: https://www.econbiz.de/10011862878