This paper analyzes the effects of cross-border mergers and acquisitions (M&As) on the innovation of European firms. The results indicate a considerable increase in post-acquisition innovation in the merged entity. This is mainly driven by inventors based in the acquirer's country, while...

This papers analyses how horizontal mergers affect innovation activities of the merged entity and its non-merging competitors. We develop an oligopoly model with heterogeneous firms to derive empirically testable implications. Our model predicts that a merger is more likely to be profitable in...

We investigate how outside directors on supervisory boards influence innovative activities of the firms they advise and monitor. Based on panel data on the largest German companies, the econometric analysis shows a positive influence of external executives on innovative firm performance,...

We analyze how foreign direct investment (FDI) affects employment security. Using administrative micro data for German employees allows us to follow individual workers over time. FDI intensity is measured at the sectoral level, which enables us to take into account direct as well as indirect...

Recent theoretical contributions provide conflicting predictions about the effects of product market competition on firms' organizational choices. This paper uses a rich firm-product-level panel data set of Indian manufacturing firms to analyze the relationship between import competition and...

Die vorliegende Studie zur Stellung forschungs- und wissensintensiver Wirtschaftszweige Deutschlands im internationalen Wettbewerb knüpft an Analysen an, die das Niedersächsische Institut für Wirtschaftsforschung (NIW) in den vergangenen Jahren mehrfach im Rahmen der Berichterstattung zur...

Die vorliegende Studie steht in der Kontinuität der Hintergrundpapiere, die zunächst das Niedersächsische Institut für Wirtschaftsforschung (NIW) (zuletzt Gehrke et al. 2007) und erstmals 2007 das RWI Essen (Döhrn, Engel, Stiebale 2008) für die Berichte zur technologischen...

The welfare effects of private equity transactions are debated controversially. We analyze the impact of expansion financing and buyouts by private equity investors on investment of portfolio firms in the UK and France – two countries with different financial systems. Unobserved heterogeneity...

This paper contributes to the ongoing debate on the welfare effects of foreign direct investment by investigating the effects of cross-border mergers and acquisitions on innovation activities in target firms. The empirical analysis is based on survey and ownership data for a large sample of...

Recent theoretical and empirical contributions stress the importance of financial development for international trade. This paper investigates whether financial constraints matter for foreign market entry at the firm level using dynamic panel data techniques.The empirical framework is applied to...