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Short and medium-term effects of foreign acquisitions on manufacturing firms: Evidence from Germany

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  • Görg, Holger
  • Lehr, Jakob

Abstract

This paper, for the first time, investigates the impact of foreign acquisitions on German manufacturing firms using, newly available unique administrative micro data spanning 25 years. Based on an event study design combined with propensity score matching techniques, we find that foreign acquisitions significantly increase labor productivity and average wages in acquired firms. A reduction in employment drives both effects.

Suggested Citation

  • Görg, Holger & Lehr, Jakob, 2024. "Short and medium-term effects of foreign acquisitions on manufacturing firms: Evidence from Germany," Economics Letters, Elsevier, vol. 241(C).
    • Handle: RePEc:eee:ecolet:v:241:y:2024:i:c:s0165176524003100
    DOI: 10.1016/j.econlet.2024.111826
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    More about this item

    Keywords

    Foreign direct investment; Foreign acquisitions; Firm behavior; Ex-post evaluation;
    All these keywords.

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F61 - International Economics - - Economic Impacts of Globalization - - - Microeconomic Impacts

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