Motives to restructure industries: Finnish evidence of cross‐border and domestic mergers and acquisitions

Eero Lehto

Papers in Regional Science, 2006, vol. 85, issue 1, 1-22

Abstract: Abstract. We estimate a multilogit model for the probabilities that a firm will acquire or become a target in different M&A categories, which are defined according to the location of an acquiring firm with respect to a target. We find that certain firm characteristics of an acquiring firm regarded as indicative of having a high capability of monitoring a target – or internalising the potential synergies of M&A – increase the probability of distant M&As at the expense of close M&As. Factors which ease the monitoring of the target firm’s value increase the probability that such a firm becomes a target located far from an acquiring firm.

Date: 2006
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https://doi.org/10.1111/j.1435-5957.2006.00023.x

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Persistent link: https://EconPapers.repec.org/RePEc:bla:presci:v:85:y:2006:i:1:p:1-22

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