Inward Foreign Direct Investments and Productivity Growth in Japan

Yukako Murakami and Kyoji Fukao

Hi-Stat Discussion Paper Series from Institute of Economic Research, Hitotsubashi University

Abstract: Firstly, this paper shows that before M&A the foreign firms value the facility and scale economy in target firms which have greater capital stock and sales in the host country. Secondly, out-in M&A firms acquired by foreign firms saw an improvement in their business efficiency after the acquisition. This finding suggests that out-in M&As involve a transfer of business resources or technological knowledge that help to further lift the efficiency of firms.

Keywords: FDI; Total Factor Productivity; Merger and acquisition; Selection Hypothesis; Spillover (search for similar items in EconPapers)
JEL-codes: F1 F2 O3 (search for similar items in EconPapers)
Date: 2006-02
New Economics Papers: this item is included in nep-eff and nep-sea
References: View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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