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. Foreign takeover of a domestically-owned plant, on average, brings a large immediate expansion of employment. …
Persistent link: https://www.econbiz.de/10003954453
rather than more R&D capital than the industry as a whole, it seems unlikely that the recent increase in takeover activity …
Persistent link: https://www.econbiz.de/10012476879
relatively low in value added per employee at the time of takeover and before, a characteristic we take to indicate relatively …-term recoveries after takeover from the misfortunes of the takeover year and a return to higher growth rates of employment and output … year or two after takeover but seem to have increased their profitability or efficiency relative to their industries. The …
Persistent link: https://www.econbiz.de/10012478083
ion of firms for takeover is based on f inn characteristics, not industry characteristics. After takeover by foreigners …, by the crude measurements we have been able to apply so far, do not seem to be affected in any consistent way by takeover …
Persistent link: https://www.econbiz.de/10012478480
This paper examines the recent upsurge in foreign acquisitions of U.S. firms, specifically focusing on acquisitions made by firms located in emerging markets. Neoclassical theory predicts that, on net, capital should flow from countries that are capital-abundant to countries that are...
Persistent link: https://www.econbiz.de/10012463861
Moreover, we find that there is no positive impact on target firms' profitability in the case of both within-group in-in acquisitions and in-in acquisitions by domestic outsiders. In fact, in the manufacturing sector, the return on assets even deteriorated one year and two years after...
Persistent link: https://www.econbiz.de/10012466243
We develop an assignment theory to analyze the volume and composition of foreign direct investment (FDI). Firms conduct FDI by either engaging in greenfield investment or in cross-border acquisitions. Cross-border acquisitions involve firms trading heterogeneous corporate assets to exploit...
Persistent link: https://www.econbiz.de/10012467684
with international operations is 2.2% higher than comparable domestic single activity firms, while the average value of a …
Persistent link: https://www.econbiz.de/10012472587
Investors can achieve international diversification in their portfolios not only through purchasing foreign equity … alternative methods of international diversification, using data on investment in the U.S. by investors from each of ten other … distortions affecting the form of international capital flows …
Persistent link: https://www.econbiz.de/10012474809
We investigate the role of industry specialization in horizontal cross-border mergers and acquisitions. We find that acquirers from more specialized industries in a country are more likely to buy foreign targets in countries that are less specialized in these same industries. The role of...
Persistent link: https://www.econbiz.de/10012455832