Does economic interventionism help strategic industries?: evidence from Europe

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dc.contributor.authorMaček, Anita
dc.contributor.authorOvin, Rasto
dc.date.accessioned2016-01-22T05:21:10Z
dc.date.available2016-01-22T05:21:10Z
dc.date.issued2014
dc.description.abstract-translatedAlthough most studies proves that Cross-Border Mergers and Acquisitions (C-B M&A) cause more benefits than threats, the real economic policy in the EU countries offsets the fear that liberalization of inward C-B M&A would endanger economic position of strategic industries and thus national economic goals. After the adoption of EU Directive 2004/25/EC on Takeover Bids the era of fast growth of inward C-B M&A in the EU and consequently the era of rising interventionism so as to protect national strategic industries and companies has started. Additional stimulus for the European Union’s (EU) most developed economies to exercise interventionism was financial and economic crisis starting in 2008. Considering high ranking of employment goals and state-supported social cohesion in continental Europe, it is not surprise that interventionist reactions came from ruling parties and coalitions regardless their political orientation. By the help of the results of their 2009 empirical study on C-B M&A authors tested the relation between the results referring to C-B M&A effects on strategic sectors and the Heritage Foundation Index of Investment Freedom. With combining the results from 2009 study with Index of Investment Freedom from 2009 and in the second equation with index from 2014 authors checked if strategic sectors benefit from incoming C-B M&A when subject to the previous market oriented industrial policy. Both estimated equations proves that unlike with sheltering economic policy, when subject to market conform measures of industrial policy, strategic sectors will benefit from inward C-B M&A. By proving the statistical significant relationship between the results from 2009 study and Index from 2014 authors also proved the statistical and analytical quality of the equation from 2009. By proving statistical significance of the second equation we proved that the judgement of the academic community could be considered relevant also after five years following the real experience as basis of their judgement.en
dc.format11 s.cs
dc.format.mimetypeapplication/pdf
dc.identifier.citationE+M. Ekonomie a Management = Economics and Management. 2014, č. 3, s. 4-14.cs
dc.identifier.doidx.doi.org/10.15240/tul/001/2014-3-001
dc.identifier.issn1212-3609 (Print)
dc.identifier.issn2336-5604 (Online)
dc.identifier.urihttp://www.ekonomie-management.cz/download/1411803179_5314/01_DOES+ECONOMIC+INTERVENTIONISM+HELP.pdf
dc.identifier.urihttp://hdl.handle.net/11025/17564
dc.language.isoenen
dc.publisherTechnická univerzita v Libercics
dc.relation.ispartofseriesE+M. Ekonomie a Management = Economics and Managementcs
dc.rights© Technická univerzita v Libercics
dc.rightsCC BY-NC 4.0cs
dc.rights.accessopenAccessen
dc.subjectpřeshraniční fúze a akvizicecs
dc.subjectekonomický intervencionismuscs
dc.subjectstrategické průmyslycs
dc.subject.translatedcrossborder mergers and acquisitionsen
dc.subject.translatedeconomic interventionismen
dc.subject.translatedstrategic industriesen
dc.titleDoes economic interventionism help strategic industries?: evidence from Europeen
dc.typečlánekcs
dc.typearticleen
dc.type.statusPeer-revieweden
dc.type.versionpublishedVersionen

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Číslo 3 (2014)
Číslo 3 (2014)