The Impacts of Intellectual Property Rights Protection on Cross-Border M&As
Hasan, Iftekhar; Khalil, Fahad; Sun, Xian (15.09.2017)
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Volyymi
7Numero
3
2017
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-202002181137Tiivistelmä
We investigate the impacts of improved intellectual property rights (IPR) protection on cross-border M&A performance. Using multiple measures of IPR protection and based on generalized difference-in-differences estimates, we find that countries with better IPR protection attract significantly more hi-tech cross-border M&A activity, particularly in developing economies. Moreover, acquirers pay higher premiums for companies in countries with better IPR protection, and there is a significantly higher acquirer announcement effect associated with these hi-tech transactions.
Julkaisuhuomautus
BoF DP 17/2017