Extending Industry Specialization and Intangibles through Cross- Border Acquisitions

This appendix contains additional analyses that we mention but do not report in the paper to preserve space.  Table IA.1: Cross-sectional gravity models (baseline equation (2)) on a sample that includes the natural resources industries.  Table IA.2: Cross-sectional gravity models (baseline equation (2)) with acquirer and target country fixed effects (instead of acquirer and target country characteristics).  Table IA.3: Cross-sectional gravity models (baseline equation (2)) with acquirer-target country pair fixed effects.  Table IA.4: Panel Gravity models (baseline equation (2)) with country-industry-pair fixed effects. The specifications are estimated by Ordinary Least Square instead of Tobit.  Table IA.5: Cross-sectional gravity models (baseline equation (2)) estimated using Ordinary Least Squares instead of Tobit.  Table IA.6: Cross-sectional gravity models (baseline equation (2)) estimated using Ordinary Least Squares with acquirer-target country pair fixed effects.  Table IA.7: Cross-sectional gravity models (baseline equation (2)) estimated using Ordinary Least Squares on a restricted sample that only includes country-industry pair observations that feature at least one deal.  Table IA.8: Cross-sectional gravity models (baseline equation (2)) estimated using a Poisson Count model, where the dependent variables (the number and value of cross-border deals) are not in logs.