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Social security law --- Insurance law --- Belgium --- Academic collection --- #SBIB:316.8H40 --- #SBIB:HIVA --- 09.01.a --- Sociaal beleid: social policy, sociale zekerheid, verzorgingsstaat --- Sociale verzekering ; België ; Algemeen

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After the five great waves of mergers and acquisitions (M&A), remarkable M&A activity continued on into the 21st century. Recently, the importance of cross-border M&A has increased, opening up new markets and new knowledge bases to firms. Do firms that merge internationally reap the benefits of diversification and gaining access to new resources, or are they rather impaired by heightened M&A costs and integration difficulties? Our analysis compares innovativeness between firms engaging in national and international mergers by investigating innovation inputs (as measured by R&D intensity) in a linear fixed effects regression model and innovation outputs (as measured by patent counts) in a Poisson pseudo-maximum likelihood model with fixed effects. In our general data set, we find few significant differences between domestic and cross- border mergers. In fact, there is little significant impact of either type of merger on innovation inputs or outputs.