On the Motives and Geographical Structure of Finnish Mergers and Acquisitions

Eero Lehto

No 197, Working Papers from Työn ja talouden tutkimus LABORE, Labour Institute for Economic Research LABORE

Abstract: We have estimated 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 distance between an acquiring firm and a target. We discovered that such characteristics of a firm that can be regarded as an indication of a good monitoring capacity or ability to internalise the potential synergies of M&As increase the probability that the firm acquires a distant firm. Respectively, such factors that ease the monitoring of a firm’s quality increase the probability that the firm becomes a target in a distant M&A.

Keywords: mergers and acquisitions; home bias; monitoring (search for similar items in EconPapers)
JEL-codes: D8 G34 R30 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2004-05-05
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Persistent link: https://EconPapers.repec.org/RePEc:pst:wpaper:197

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