Murakami, Yukako; Fukao, Kyoji - Institute of Economic Research, Hitotsubashi University - 2006
Firstly, this paper shows that before M&A the foreign firms value the facility and scale economy in target firms which … have greater capital stock and sales in the host country. Secondly, out-in M&A firms acquired by foreign firms saw an … improvement in their business efficiency after the acquisition. This finding suggests that out-in M&As involve a transfer of …