Under tremendous pressure to grow, the decision makers for many firms pursue a variety of growth paths for their organizations including internal development, alliances, and mergers and acquisitions (M&A's). Despite significant investments and efforts, the outcome of many of these endeavors is dismal-around 70% of M&A's fail and, though somewhat less known, the fate of the other growth strategi...

In this empirical paper I address the e ects of international mergers and acquisitions (M&A) on the acquired rms. International direct investments in the home country are usually welcomed and considered to be bene cial for growth, employment, productivity and technological progress. This is mostly unquestioned for green eld investments, i.e. the case when a foreign multinational rm sets up a ne...