TY  - UNPD
A1  - Grote, Michael H.
A1  - Rücker, Fabian
T1  - Acquiring foreign firms far away might be hazardous to your share price: evidence from Germany
T2  - Universität Frankfurt am Main. Fachbereich Wirtschaftswissenschaften: [Working paper series / Finance and accounting] Working paper series, Finance & Accounting ; No. 182
N2  - This paper examines shareholder wealth effects of cross-border acquisitions. In a sample of 155 large acquisitions by German corporations from 1985–2006 international transactions in total do not lead to significant announcement returns. Geography, however, makes a difference: Shareholders of acquiring firms gain 6.5% in cross-border transactions into countries that have a common border with Germany but lose 4.4% in other international transactions. We find proximity to be one of the most important success factors in cross-border mergers and acquisitions, even when we control for firm, deal and country characteristics.
T3  - Working paper series / Johann-Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften : Finance & Accounting - 182 
KW  - Deutschland
KW  - Geschäftsanteil
KW  - Preis
KW  - Unternehmenskauf
KW  - Ausländisches Unternehmen
Y1  - 2007
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/399
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30-50584
IS  - Version August 2007
PB  - Univ., Fachbereich Wirtschaftswiss.
CY  - Frankfurt am Main
ER  -