The impact of European integration on the nineties' wave of mergers and acquisitions

Pierre-Guillaume Méon and Anne-France Delannay

No 06-12.RS, DULBEA Working Papers from ULB -- Universite Libre de Bruxelles

Abstract: The present paper applies a gravity model with fixed country effects to M&A flows on a sample of 1215 pairs of countries over the 1998-2001 period, to test the impact of European integration. That model, which had to our knowledge not been applied to M&A flows so far, allows us to observe that the participation of two countries in the process of European integration is associated with a smaller negative impact of distance on the number and the value of those countries’ bilateral M&A flows. We observe no such effect for the EMU however.

Keywords: Mergers and acquisitions; multinational firms; gravity models; European integration; EMU (search for similar items in EconPapers)
JEL-codes: F15 F23 G34 (search for similar items in EconPapers)
Pages: 25 p.
Date: 2006-07
New Economics Papers: this item is included in nep-com, nep-fin and nep-int
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (22)

Published by: DULBEA - Université libre de Bruxelles, Bruxelles

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Related works:
Journal Article: The Impact of European Integration on the Nineties’ Wave of Mergers and Acquisitions (2006)
Working Paper: The impact of European integration on the nineties' wave of mergers and acquisitions (2006)
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