Synergy Effects Of Domestic And International M&A
- Topics:
- Organization
- Tags:
- Finance,
- Investment,
- M&A,
- Mergers & Acquisitions
- Source:
- Hosei University
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Overview: This paper examines the productivity effects of domestic and international Mergers and Acquisitions (M&A). Since firms choose to engage in domestic and international M&A activities, it is important to control for M&A destinations and the endogeneity of M&A. By controlling for the selectivity bias, the authors found that productivity gains from domestic and international M&A by using data on domestic and international M&A of Japanese electronics firms. It is also found that motivations for M&A differ between these. These results imply that, while the determinants of M&A are different between domestic and international M&A, synergy gains exist irrespective of destinations.
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Format: PDF | Size: 85KB | Date: Jun 2006 | Pages: 22
