Integration Contracts and Asset Complementarity: Evidence from US Data

Paolo Di Giannatale and Francesco Passarelli

LIUC Papers in Economics from Cattaneo University (LIUC)

Abstract: We study the effects of ownership and complementarity on the performance of bilateral contracts (M&A, Minority Stake purchase and Joint Venture). We derive profitability conditions based on how a contract changes the asset control between partners and how this affects their position against competitors. Then we test our predictions on a sample of US firms. We build a multiproduct and time varying complementarity index in order to estimate the link between firms’ relationships within industry, and performance over time.

Pages: 16 pages
Date: 2013-09
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Published in LIUC papers, no.268, 2013 - Economia e Impresa 71

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Persistent link: https://EconPapers.repec.org/RePEc:liu:liucec:268

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