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Are mergers and acquisitions significant events that develop informativeness? Is the informativeness process the same … information content of stock prices. We consider a sample of mergers and acquisitions in the US and Europe over the 2000 … contradictory. To answer to these questions we use the concept of informativeness to assess whether acquisitions improve the private …
Persistent link: https://www.econbiz.de/10011269167
Using a sample of acquisitions of unlisted firms completed by public companies from 17 Western European countries over … announcement period abnormal returns to acquirers. 12.5% of the unlisted targets are PE-backed. Acquisitions of PE-backed firms are …
Persistent link: https://www.econbiz.de/10010708923
failed mergers. In particular, our research has identified a number of errors frequently committed by members of the …
Persistent link: https://www.econbiz.de/10010905268
This paper aims at understanding the impact of cultural diversity on co-operative relationships. Co-operation is considered through two different modes : of co-operation. The case of the team in charge of the integration process between France Telecom Mobiles and Orange UK is analysed according...
Persistent link: https://www.econbiz.de/10010708921
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Antitrust authorities have set up leniency programs for cartel members that denounce their collusive agreements. These programs help prosecute participants and can thereby deter collusion. We compare the impact of reduced fines and positive rewards and argue that rewarding individuals, including...
Persistent link: https://www.econbiz.de/10010790029
Regulators often do not regulate all firms competing in a given sector. Due to product substitutability, unregulated competitors have incentives to bribe regulated firms to have them overstate their costs and produce less, thereby softening competition. The best collusion-proof contract entails...
Persistent link: https://www.econbiz.de/10010795034
Entrants may provide information to a regulator, even when they cannot be regulated. With correlated costs, yardstick-like regulatory contracts based on the output of unregulated firms nullify information rents. But they give strong incentives to the regulated incumbent to bribe competitors. A...
Persistent link: https://www.econbiz.de/10010706822
Considers the contribution of Attilio da Empoli to the theory of value and distribution and especially his contribution to the theory of monopolistic competition. During the 1920s a lively discussion developed about the link between the cost structure of the individual firm and the degree of...
Persistent link: https://www.econbiz.de/10011073364