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Distressed Acquisitions : Evidence from European Emerging Markets

Iwasaki, Ichirō; Kočenda, Evžen; Shida, Yoshisada - 2021

We analyze factors behind 23,213 distressed acquisitions in European emerging markets from 2007–2019. Besides the impact of financial ratios, legal form, ownership structure, firm size, and age, we emphasize the role of institutions and channels of their propagation. We show that the quality...

Persistent link: https://www.econbiz.de/10013231968

Mergers in the Digital Economy

Gautier, Axel - 2020

Over the period 2015-2017, the five giant technologically leading firms, Google, Amazon, Facebook, Amazon and Microsoft (GAFAM) acquired 175 companies, from small start-ups to billion dollar deals. By investigating this intense M&A, this paper ambitions a better understanding of the Big Five's...

Persistent link: https://www.econbiz.de/10012842674

Corporate Acquisitions and Firm-Level Uncertainty : Domestic versus Cross-Border Deals

Bai, Ye - 2020

-level uncertainty is characterized by a pecking order: the announcement of a domestic takeover leads to a reduction in the uncertainty …

Persistent link: https://www.econbiz.de/10012841927

Determinants of cross-border bank acquisitions in transition economies: a latent class analysis

Poghosyan, Tigran; de Haan, Jakob - 2008

We analyze the microeconomic determinants of cross-border bank acquisitions in 16 transition economies over the period 1996-2006. By using a latent class discrete choice model we explicitly incorporate the macroeconomic and institutional heterogeneity of the transition economies into our...

Persistent link: https://www.econbiz.de/10010274044

Unlocking the value of cross-border mergers and acquisitions

Brakman, Steven; Garita, Gus; Garretsen, Harry; van … - 2008

Most FDI takes place between the developed countries, which suggests that the market-seeking motive is important for understanding FDI. However, given the stylized fact that trade barriers (e.g. transportation costs and financial barriers) have declined over the past 20 years, models that aim to...

Persistent link: https://www.econbiz.de/10010275800

CEO preferences and acquisitions

Jenter, Dirk; Lewellen, Katharina - 2011

of takeover bids. Mergers frequently force target CEOs to retire early, and CEOs' private merger costs are the forgone … costs, we find strong evidence that target CEO preferences affect merger patterns. The likelihood of receiving a takeover … in takeover activity appears discretely at the age-65 threshold, with no gradual increase as CEOs approach retirement age …

Persistent link: https://www.econbiz.de/10010280635

Style Consistency and Mutual Fund Returns : The Case of Russia

Bayarmaa, Adiya - 2019

This paper carries out style analysis for Russian mutual funds using monthly data from the National Managers’ Association over the period January 2008-December 2017; specifically, it applies the RSBA method developed by Sharpe (1992) for evaluating the impact of style on returns, and uses the...

Persistent link: https://www.econbiz.de/10012871757

The Macroeconomic Effects of Funding U.S. Infrastructure

Malley, James R.; Philippopulos, Apostolēs - 2022

This paper quantitatively assesses the macroeconomic effects of the recently agreed U.S. bipartisan infrastructure spending bill in a neoclassical growth model. We add to the literature by considering a more detailed tax structure, different types of infrastructure spending and linkages between...

Persistent link: https://www.econbiz.de/10013307758

The Effect of Mergers on Variety in Grocery Retailing

Argentesi, Elena; Cervone, Roberto; Duso, Tomaso; … - 2021

We study the effect of a merger between two Dutch supermarket chains to assess its effect on the depth as well as composition of assortment. We adopt a difference-in-differences strategy that exploits local variation in the merger’s effects, controlling for selection on observables through a...

Persistent link: https://www.econbiz.de/10013222202

Merger Policy in Digital Markets : An Ex-Post Assessment

Argentesi, Elena - 2020

This paper presents a broad retrospective evaluation of mergers and merger decisions in the digital sector. We first discuss the most crucial features of digital markets such as network effects, multi-sidedness, big data, and rapid innovation that create important challenges for competition...

Persistent link: https://www.econbiz.de/10012845689