出版社：Juraj Dobrila University of Pula, Department of Economics and Tourism 'Dr. Mijo Mirkovic'
摘要：The aim of this study is to examine whether there is an impact of geographical proximity, between the acquirer and the target company of a takeover process, on the success of the transaction. In order to do this we analysed a complete database of all the takeover bids between 2000 and 2014 on the Romanian capital market. The evidence reveals that not only is the geographical proximity important for the success of the transaction, but that also takeovers can occur across distant locations if the target firm has a long history of its activity that can be monitored by the acquiring companies. We have also tested if there are NUTS regions characteristics that can influence the decisionmaking, but the results were inconclusive.
关键词：Takeover bids; geographical proximity; M&A decision; probability of success
