Ross Levine, Chen Lin, 02 July 2015

Labour market regulations have important implications for both the incidence of cross-border acquisitions, and the outcomes for acquiring firms. This column explores how variations in labour regulations between countries affect cross-border acquisitions and subsequent firm performance. For a sample of 50 countries, firms are found to enjoy larger returns when they acquire a target in a country with weaker labour regulations than the acquirer’s home country.

Maria Guadalupe, Olga Kuzmina, Catherine Thomas, 09 September 2011

Studies have shown that foreign-owned firms are typically more productive. This column presents evidence from Spain that suggests this is mainly due to foreign firms buying the most productive domestic companies.

Sebnem Kalemli-Ozcan, Herman Kamil, Carolina Villegas-Sanchez, 22 August 2011

How do financial crises turn into recessions? The authors of CEPR DP8543 analyze and adjudicate between two prominent explanations--the bank lending channel and the balance sheet channel. Their evidence indicates that a smaller credit supply, not the insolvency of firms, is what causes real post-crisis contractions.


CEPR Policy Research