What key roles do macroeconomic and financial variables play in the foreign direct
investment (FDI) decision of firms? This question is addressed in this paper using a large
panel data set of cross-border Merger & Acquisition (M&A) deals for the period 1990– ...

We investigate CEO compensation for completing M&A deals. We find that CEOs who have
more power to influence board decisions receive significantly larger bonuses. We also find a
positive relation between bonus compensation and measures of effort, but not between ...

Abstract We study 98 large M&As of European bidding banks from 1985 to 2000 in order to
investigate drivers of excess returns to the shareholders of the targets, the bidders, and to
the combined entity of the bidder and the target. Our findings show that many of 13 drivers ...

Using information on 31 in-depth cases of individual M&A deals, we show that technological
and market-relatedness between M&A partners distinctly affects the inputs, outputs,
performance and organisational structure of the R&D process. While the findings in the ...

Do cultural differences have an impact on the performance of M&A? Despite the widely
accepted myth that they do, and in a negative way, a review of extant research provides
contradictory findings. In this article, we explore reasons for this contradiction and propose ...

Abstract Using a sample of over 800 cross-border acquisitions during 1991–2004, we find
that, contrary to general perception, cross-border acquisitions perform better in the long run
if the acquirer and the target come from countries that are culturally more disparate. We ...

Lockups are an increasingly important element of M&A deals in the United States. We
present, for the first time, descriptive data on lockup incidence, trends, and their relationship
with Delaware case law. Prior commentators have used theoretical models to argue that ...

This paper investigates the incidence of national and cross-border mergers and acquisitions
(M&A) on private research and development (R&D) investments in OECD countries over the
period 1990–1999. We use generalized method of moments (GMM) estimation techniques ...