In this paper we present the first evidence for a link between foreign ownership and credit constraints for Germany …, one of the world's leading target countries for foreign direct investment. Furthermore, we contribute to the literature by … investigating the impact of a foreign acquisition on the target firms' credit constraints for the first time. We use newly available …

With this paper we present the first microeconometric analysis of the impact of a foreign acquisition on the target … between foreign ownership and access to finance in Germany, one of the world's leading target countries for foreign direct … statistical offices and from credit rating scores supplied by the leading German credit rating agency. We find foreign owned firms …