haku: @author Ravenscraft, D. / yhteensä: 2
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| Tekijä: | Harris, R.S. Ravenscraft, D. |
| Otsikko: | The role of acquisitions in forein direct investment : evidence from the US stock market |
| Lehti: | Journal of Finance
1991 : JUL, VOL. 46:3, p. 825-844 |
| Asiasana: | FOREIGN INVESTMENT SHAREHOLDERS SHARE OWNERSHIP USA MERGERS |
| Kieli: | eng |
| Tiivistelmä: | Foreign direct investment is examined by studying shareholder wealth gains for 1273 firms in the USA, acquired during the period 1970-1987. Three findings stand out. Cross-border takeovers are more frequent in research and development intensive industries than domestic acquisitions are. Targets of foreign buyers have significantly higher wealth gains than those of USA firms have. While the cross-border effect on wealth gains is not well explained by industry and tax variables, it is positively related to the weakness of the US dollar. |
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