Dear colleagues, The Department of Economics cordially invites you to the WU Economic Research Seminar (Department Seminar) on Wednesday, January 31, with Joel Stiebale (DICE Düsseldorf) on "Acquisitions, Markups, Efficiency, and Product Quality: Evidence from India" Abstract: This paper uses a rich panel data set of Indian manufacturing firms to analyze the effects of domestic and international acquisitions on various outcomes at target firm and product level. We apply recent methodological advances in the estimation of production functions together with information on prices and quantities to estimate physical productivity, markups, marginal costs and proxies for product quality. Using a propensity score reweighting estimator, we find that acquisitions are associated with increases in quantities and markups and lower marginal costs on average. These changes are most pronounced if acquirers are located in technologically advanced countries. We also provide evidence that the quality of products increases while quality-adjusted prices fall upon acquisitions. Our results indicate that knowledge transfer from foreign acquirers to domestic firms, predicted by theories of multinational firms, can materialize in both cost- and quality-based gains and benefit both firms and consumers. Place and time: Wednesday, January 31, 4.30 - 6.00 p.m., Campus WU, Welthandelsplatz 1, 1020 Vienna, building D4, 2nd floor, Department meeting room 2.008 With best regards, Harald Oberhofer --- Univ.-Prof. Dr. Harald Oberhofer Institute for International Economics WU Vienna University of Economics and Business Phone: +43/1/31336-4984 Fax: +43/1/31336-4984 Email: harald.oberhofer@wu.ac.at<mailto:harald.oberhofer@wu.ac.at> Webpage: https://www.wu.ac.at/ie/mitarbeiter/harald-oberhofer/ Austrian Institute of Economic Research (WIFO) Phone: +43/1/7982601-468 Fax: +43/1/7989386 Email: harald.oberhofer@wifo.ac.at<mailto:harald.oberhofer@wifo.ac.at> Webpage: http://www.wifo.ac.at/harald_oberhofer