Symmetric and asymmetric effects of proximities. The case of M&A deals in Italy
Marrocu Emanuela;Paci Raffaele
2016-01-01
Abstract
This article investigates the effect of geographical, industrial, organizational and institutional proximity on the probability that any two firms located in Italy engage in a mergers and acquisitions (M&A) deal. Within a logistic rare event framework, we investigate 4261 actual deals completed over the period 2000–2011 and around 3.8 million potential deals. We find robust evidence that all forms of proximity have a positive effect, especially industrial relatedness. Moreover, we find evidence that proximities generate asymmetric effects on M&A deals, depending on the location of bidders and targets and on whether some specific individual characteristics are featured by the acquirer or by the target firm. JEL classifications: G34, R12, C21File | Size | Format | |
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Boschma-Marrocu-Paci J Econ Geogr-March 2016.pdf Solo gestori archivio
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256.94 kB | Adobe PDF | & nbsp; View / Open Request a copy |
BMP_JOEG 2016_iris_vqr2015-19.pdf open access
Type: versione post-print
Size 457.14 kB
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457.14 kB | Adobe PDF | View/Open |
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