Economics at your fingertips  

The border effect on mergers and acquisitions

Federico Carril-Caccia (), Aitor Garmendia-Lazcano and Asier Minondo ()
Additional contact information
Federico Carril-Caccia: University of Granada
Aitor Garmendia-Lazcano: Deusto Business School

Empirical Economics, 2022, vol. 62, issue 3, No 13, 1267-1292

Abstract: Abstract Using a firm-level dataset of more than 500,000 domestic and cross-border mergers and acquisitions (M&As) for 95 countries during the period 1995–2015, we measure the level and evolution of the border effect on M&As. We find that the number and value of M&As between same-country firms are five times larger than between firms of different countries. We show that the border effect on the number and value of M&As remained constant during the period. The border effect on M&As in the European Union is substantially lower than elsewhere. We find that the border effect is lower for large investors and firms operating in the primary industry and utilities.

Keywords: Mergers and acquisitions; Foreign direct investment; Border effect; European Union; F15; F21; F23 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link) Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
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:

Ordering information: This journal article can be ordered from
http://www.springer. ... rics/journal/181/PS2

DOI: 10.1007/s00181-021-02050-2

Access Statistics for this article

Empirical Economics is currently edited by Robert M. Kunst, Arthur H.O. van Soest, Bertrand Candelon, Subal C. Kumbhakar and Joakim Westerlund

More articles in Empirical Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

Page updated 2022-09-26
Handle: RePEc:spr:empeco:v:62:y:2022:i:3:d:10.1007_s00181-021-02050-2