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National Champion versus Foreign Takeover
Suedekum, Jens - Institute for the Study of Labor (IZA) - 2007
We analyze an oligopolistic market where a domestic and a foreign firm are engaged in a takeover battle for a domestic competitor. Any merger or acquisition (M&A) must be approved by a welfare maximizing domestic competition agency which may or may not be prone to "economic patriotism". A...
Persistent link: https://www.econbiz.de/10005763853
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National Champion Versus Foreign Takeover
Südekum, Jens - Rheinisch-Westfälisches Institut für … - 2008
attempts from abroad and instead favoured mergers among national firms. In this paper we offer an explanation why globalization …
Persistent link: https://www.econbiz.de/10005561978
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National champions and globalization
Südekum, Jens - In: Canadian Journal of Economics 43 (2010) 1, pp. 204-231
block foreign takeover of domestic firms and increase its incentive to allow mergers among national firms. This creation of …
Persistent link: https://www.econbiz.de/10008625979
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Cross-Border Mergers and National Champions in an Integrating Economy
Südekum, Jens - In: Journal of Institutional and Theoretical Economics (JITE) 164 (2008) 3, pp. 477-508
. Mergers can be used to appropriate rents on consumptive third markets, even when the trade policy of these countries reacts … endogenously. Competition policy inside the bloc of the two producing countries is too permissive towards mergers and acquisitions …. A policy of cross-border mergers (European champions) need not imply a conflict between regional and global welfare. In …
Persistent link: https://www.econbiz.de/10005582094
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Do Two Wrongs Make a Right? Export Incentives and Bias in Trade Policy
Harris, R-G; Schmitt, N - 1996
Two exceptions to the argument that export promotion offsets import substitution are provided. The first is based on the observation that protection in small open economies produces monopolisation of the domestic market. The second qualification stems from the discretionary and contingent nature...
Persistent link: https://www.econbiz.de/10005776803
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Do Two Wrongs Make a Right? Export Incentives and Bias in Trade Policy
Harris, R-G; Schmitt, N - Department of Economics, Simon Fraser University - 1996
Two exceptions to the argument that export promotion offsets import substitution are provided. The first is based on the observation that protection in small open economies produces monopolisation of the domestic market. The second qualification stems from the discretionary and contingent nature...
Persistent link: https://www.econbiz.de/10005464265
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Does Foreign Direct Investment Replace Home Country Investment? The Effect of European Integration on the Location of Swedish Investment.
Braunerhjelm, P.; Oxelheim, L. - Institutet för Näringslivsforskning (IFN) - 1999
The purpose of this paper is to examine the effects of European integration on the location of investments by Swedish multinational corporations (MNCs). Evidence is presented about the extent to which European integration has attracted investment by Swedish MNCs, and whether foreign direct...
Persistent link: https://www.econbiz.de/10005639295
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Cross-Border Mergers and Greenfield Foreign Direct Investment
Stepanok, Ignat - Institut für Weltwirtschaft (IfW) - 2012
and mergers and acquisitions (M&A). Working in a monopolistically competitive environment, merging firms do not reduce … competition. Mergers are motivated by efficiency gains and transfer of technology and expertise. Following empirical evidence, I …
Persistent link: https://www.econbiz.de/10010887012
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Cross-Border Mergers and Greenfield Foreign Direct Investment
Stepanok, Ignat - Economics Institute for Research (SIR), … - 2010
and mergers and acquisitions (M&A). Working in a monopolistically competitive environment, merging firms do not reduce … competition. Mergers are motivated by efficiency gains and transfer of technology and expertise. Following empirical evidence, I …
Persistent link: https://www.econbiz.de/10008727660
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An Assignment Theory of Foreign Direct Investment
Nocke, Volker; Yeaple, Stephen - Department of Economics, University of Pennsylvania - 2004
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/10005126703