Do Foreign Mergers and Acquisitions Boost Firm Productivity?

This paper examines the causal relationship between foreign mergers and acquisitions (M&A) and the productivity of acquired firms using micro-data from the UK over the period 1999–2007. Our results suggest a significant heterogeneity in the total factor productivity (TFP) effects of foreign M&am...

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Bibliographic Details
Main Authors:	Schiffbauer, Marc, Siedschlag, Iulia, Ruane, Frances
Format:	Journal Article
Published:	Elsevier 2018
Subjects:	CROSS-BORDER MERGERS ACQUISITIONS PRODUCTIVITY FIRM HETEROGENEITY
Online Access:	http://hdl.handle.net/10986/29255

id	okr-10986-29255
recordtype	oai_dc
spelling	okr-10986-292552021-05-25T10:54:43Z Do Foreign Mergers and Acquisitions Boost Firm Productivity? Schiffbauer, Marc Siedschlag, Iulia Ruane, Frances CROSS-BORDER MERGERS ACQUISITIONS PRODUCTIVITY FIRM HETEROGENEITY This paper examines the causal relationship between foreign mergers and acquisitions (M&A) and the productivity of acquired firms using micro-data from the UK over the period 1999–2007. Our results suggest a significant heterogeneity in the total factor productivity (TFP) effects of foreign M&A at the industry level. Overall, we uncover a systematic pattern of post-acquisition TFP effects that is consistent with the most recent theoretical models of firm heterogeneity and cross-border mergers and acquisitions as mode of foreign entry. Furthermore, we find positive aggregate effects on labor productivity due to capital deepening but not due to changes in TFP. 2018-01-29T21:14:00Z 2018-01-29T21:14:00Z 2017-12 Journal Article International Business Review 0969-5631 http://hdl.handle.net/10986/29255 CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Elsevier Publications & Research :: Journal Article Publications & Research United Kingdom
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
topic	CROSS-BORDER MERGERS ACQUISITIONS PRODUCTIVITY FIRM HETEROGENEITY
spellingShingle	CROSS-BORDER MERGERS ACQUISITIONS PRODUCTIVITY FIRM HETEROGENEITY Schiffbauer, Marc Siedschlag, Iulia Ruane, Frances Do Foreign Mergers and Acquisitions Boost Firm Productivity?
geographic_facet	United Kingdom
description	This paper examines the causal relationship between foreign mergers and acquisitions (M&A) and the productivity of acquired firms using micro-data from the UK over the period 1999–2007. Our results suggest a significant heterogeneity in the total factor productivity (TFP) effects of foreign M&A at the industry level. Overall, we uncover a systematic pattern of post-acquisition TFP effects that is consistent with the most recent theoretical models of firm heterogeneity and cross-border mergers and acquisitions as mode of foreign entry. Furthermore, we find positive aggregate effects on labor productivity due to capital deepening but not due to changes in TFP.
format	Journal Article
author	Schiffbauer, Marc Siedschlag, Iulia Ruane, Frances
author_facet	Schiffbauer, Marc Siedschlag, Iulia Ruane, Frances
author_sort	Schiffbauer, Marc
title	Do Foreign Mergers and Acquisitions Boost Firm Productivity?
title_short	Do Foreign Mergers and Acquisitions Boost Firm Productivity?
title_full	Do Foreign Mergers and Acquisitions Boost Firm Productivity?
title_fullStr	Do Foreign Mergers and Acquisitions Boost Firm Productivity?
title_full_unstemmed	Do Foreign Mergers and Acquisitions Boost Firm Productivity?
title_sort	do foreign mergers and acquisitions boost firm productivity?
publisher	Elsevier
publishDate	2018
url	http://hdl.handle.net/10986/29255
_version_	1764468884552810496

Do Foreign Mergers and Acquisitions Boost Firm Productivity?

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