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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
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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
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Distressed Acquisitions : Evidence from European Emerging Markets
Iwasaki, Ichiro; 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
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A note on the time series measure of conservatism
Brauer, Sebastian; Westermann, Frank - 2010
Asymmetric persistence of accounting income is often tested in a regression of changes in earnings on lagged changes in earnings, including an interaction term for negative changes (see Basu [1997] or Ball et al. [2009] for a recent overview). In this note we propose an alternative, but closely...
Persistent link: https://www.econbiz.de/10010266098
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Taxes and financial reporting: Evidence from discretionary investment write-offs in Italy
Arachi, Giampaolo; Bucci, Valeria - 2010
This paper provides further empirical evidence on the relationship between taxes and financial reporting by focusing on accounting decisions to write-offs equity investments. The analysis is based on panel data for Italian companies. In the period 1998-2006 the Italian corporate income tax has...
Persistent link: https://www.econbiz.de/10010274991
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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
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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
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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
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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
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FDI Technology Spillovers and Wages
Urban, Dieter M. - 2021
This study distinguishes multinational firm (MNE) technology-spillover from learning effects. Whenever learning takes time, the model predicts that foreign investors deduct the economic value of learning from wages of inexperienced workers and add it to experienced ones to prevent them from...
Persistent link: https://www.econbiz.de/10013316795