Where do Creditor Rights Matter? Creditor Rights, Political Constraints, and Cross-Border M&A Activity

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dc.identifier.uri http://dx.doi.org/10.15488/9780
dc.identifier.uri https://www.repo.uni-hannover.de/handle/123456789/9837
dc.contributor.author Gassebner, Martin
dc.contributor.author Gnutzmann-Mkrtchyan, Arevik
dc.contributor.author Méon, Pierre-Guillaume
dc.date.accessioned 2020-04-17T14:12:06Z
dc.date.available 2020-04-17T14:12:06Z
dc.date.issued 2020
dc.identifier.citation Gassebner, Martin; Gnutzmann-Mkrtchyan, Arevik; Méon, Pierre-Guillaume: Where do Creditor Rights Matter? Creditor Rights, Political Constraints, and Cross-Border M&A Activity. Hannover : Institutionelles Repositorium der Leibniz Universität Hannover, 2020. DOI: https://doi.org/10.15488/9780
dc.description.abstract In this paper, we evaluate the impact of creditor rights and political risk on both the number and the value of cross-border M&A flows in a gravity model using a negative binomial model and Heckman’s two-stage selection model, respectively. Our results confirm that creditor-friendly rules and political risk decrease M&A inflows. The impact of formal legal rules is, however, almost entirely driven by politically stable countries, where those rules can be expected to hold. De jure rules therefore only matter where de facto implementation can be expected due to political stability. eng
dc.language.iso eng
dc.publisher Hannover : Institutionelles Repositorium der Leibniz Universität Hannover
dc.rights CC BY 3.0 DE
dc.rights.uri https://creativecommons.org/licenses/by/3.0/de/
dc.subject Mergers and acquisitions eng
dc.subject multinational firms eng
dc.subject creditor rights eng
dc.subject political risk eng
dc.subject gravity model eng
dc.subject.ddc 330 | Wirtschaft
dc.title Where do Creditor Rights Matter? Creditor Rights, Political Constraints, and Cross-Border M&A Activity eng
dc.type report
dc.type Text
dc.description.version publishedVersion
tib.accessRights frei zug�nglich


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