TY  - JOUR
AB  - Purpose The present article analyses the effects of cross-border mergers and acquisitions (CBM&As) on targets' total factor productivity (TFP), employment, wages and intangible-asset investment. The author investigates whether the impact of CBM&As differs depending on the origin of the investing multinational (MNE). The author distinguishes between CBM&As from European countries, other developed countries and emerging countries.Design/methodology/approach The author makes use of a unique firm-level data set of foreign direct investment in the French manufacturing sector. The authors applies propensity score matching and difference in differences to estimate the effect of CBM&As.Findings The results show that the consequences of CBM&As differ strongly depending on the origin. CBM&As from European MNEs have a positive impact on TFP, wages and intangible-asset investment, and those from emerging countries seem to increase wages and intangible-asset investments. In contrast, CBM&As that originate from MNEs from other developed countries do not have a significant effect.Originality/value This article contributes to the growing literature on the effects of foreign direct investment that highlights the relevance of accounting for the MNEs' origin. In particular, it is the first to address the impact of emerging-country MNEs' CBM&As in Europe.
VL  - 16
IS  - 8
SN  - 1746-8809
DO  - 10.1108/IJOEM-10-2019-0823
UR  - https://doi.org/10.1108/IJOEM-10-2019-0823
AU  - Carril-Caccia Federico
PY  - 2020
Y1  - 2020/01/01
TI  - Does the origin matter? The effects of cross-border mergers and acquisitions in France
T2  - International Journal of Emerging Markets
PB  - Emerald Publishing Limited
SP  - 2136
EP  - 2154
Y2  - 2024/04/23
ER  -