(cv & bio)
« The Perfect Match: Assortative Matching in Mergers and Acquisitions »
Maria Guadalupe, Veronica Rappoport, Bernard Salanié and Catherine Thomas
This paper studies the motives behind corporate mergers in developed countries. Using data for the five largest European countries, we characterize each firm by its productivity and market size before the merger. Then, using new empirical matching techniques that allow for matching along multiple discrete and continuous dimensions, we estimate whether there are complementarities between these dimensions. We find very strong positive assortative matching on productivity and also on size, and no complementarity across these two characteristics.
12:00am to 13:30pm, Room Dalsace