The Impacts of Intellectual Property Rights Protection on Cross-Border M&As

We investigate the impacts of improved intellectual property rights (IPR) protection on cross-border Mergers and Acquisitions performance. Using multiple measures of IPR protection and based on generalized difference-in-differences estimates, we find that countries with better IPR protection attract significantly more hi-tech cross-border Mergers and Acquisitions activity, particularly in developing economies. Moreover, acquirers pay higher premiums for companies in countries with better IPR protection, and there is a significantly higher acquirer announcement effect associated with these hi-tech transactions.

15. September 2017

Authors Iftekhar Hasan Fahad Khalil Xian Sun

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Professor Iftekhar Hasan, PhD
Professor Iftekhar Hasan, PhD

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