Symmetric and asymmetric effects of proximities. The case of M&A deals in Italy

Ron Boschma (), Emanuela Marrocu and Raffaele Paci

Journal of Economic Geography, 2016, vol. 16, issue 2, 505-535

Abstract: This article investigates the effect of geographical, industrial, organizational and institutional proximity on the probability that any two firms located in Italy engage in a mergers and acquisitions (M&A) deal. Within a logistic rare event framework, we investigate 4261 actual deals completed over the period 2000–2011 and around 3.8 million potential deals. We find robust evidence that all forms of proximity have a positive effect, especially industrial relatedness. Moreover, we find evidence that proximities generate asymmetric effects on M&A deals, depending on the location of bidders and targets and on whether some specific individual characteristics are featured by the acquirer or by the target firm.

Date: 2016
References: Add references at CitEc
Citations: View citations in EconPapers (16)

Downloads: (external link)
http://hdl.handle.net/10.1093/jeg/lbv005 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Symmetric and asymmetric effects of proximities. The case of M&A deals in Italy (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:jecgeo:v:16:y:2016:i:2:p:505-535.

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Journal of Economic Geography is currently edited by Jorge De la Roca, Stephen Gibbons, Simona Iammarino, Amanda Ross and James Faulconbridge

More articles in Journal of Economic Geography from Oxford University Press Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().