Do Intellectual Property Rights Influence Cross-Border Mergers and Acquisitions ?

Mercedes Campi, Marco Duenas, Matteo Barigozzi and Giorgio Fagiolo ()

LEM Papers Series from Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy

Abstract: This paper analyses whether the strengthening of intellectual property rights (IPRs) systems affects decisions of cross-border mergers and acquisitions (M&As), and whether their influence is different for developed and developing countries and across industrial sectors. We estimate an extended gravity model to study bilateral flows of M&As using data for the post-TRIPS period (1995-2010) and two different indexes that measure the strength of IPRs systems at the country level. We find that IPRs influence decisions of cross-border M&As and facilitate the creation of investment linkages. However, we detect a heterogeneous impact of IPRs on M&As depending on specificities of countries and sectors.

Keywords: Intellectual Property Rights; Mergers and Acquisitions; Technological Intensity; Gravity Model (search for similar items in EconPapers)
Date: 2016-06-07
New Economics Papers: this item is included in nep-cse, nep-int, nep-ipr and nep-knm
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Persistent link: https://EconPapers.repec.org/RePEc:ssa:lemwps:2016/28

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