-cash working capital, but little impact on fixed investment or acquisitions. Our estimates indicate that R&D investment initially …

Using a sample of control cross-border acquisitions from 61 countries from 1990 to 2007, we find that acquirers from … countries with better governance gain more from such acquisitions and their gains are higher when targets are from countries …-price reaction than the country of the acquirer. Second, for acquisitions of private firms or subsidiaries, acquirers gain more when …

verify the model's prediction that liquidity-driven acquisitions are more likely to occur in industries in which assets are …