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Creative Destruction and Productive Preemption

Norback, Pehr-Johan - 2013

We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are …

Persistent link: https://www.econbiz.de/10013087725

Source Versus Residence Based Taxation with International Mergers and Acquisitions

Becker, Johannes - 2009

This paper analyses tax competition and tax coordination in a model where capital flows occur in the form of mergers and acquisitions, rather than greenfield investment. In this framework, we show that differences in residence based taxes do not necessarily distort international ownership...

Persistent link: https://www.econbiz.de/10013153614

A Simple Model of Mergers and Innovation

Federico, Giulio - 2017

We analyze the impact of a merger on firms' incentives to innovate. We show that the merging parties always decrease their innovation efforts post-merger while the outsiders to the merger respond by increasing their effort. A merger tends to reduce overall innovation. Consumers are always worse...

Persistent link: https://www.econbiz.de/10012951696

Income Tax Buyouts and Income Tax Evasion

Goerke, Laszlo - 2014

A tax buyout is a contract between tax authorities and a tax payer which reduces the marginal income tax rate in exchange for a lump-sum payment. While previous contributions have focussed on labour supply, we consider the interaction with tax evasion and show that a buyout can increase expected...

Persistent link: https://www.econbiz.de/10013058508

Mergers and Partial Ownership

Foros, Øystein - 2010

In this paper we compare the profitability of a merger to the profitability of a partial ownership arrangement and find that partial ownership arrangements can be more profitable for the acquiring and acquired firm because they can result in a greater dampening of competition. We also derive...

Persistent link: https://www.econbiz.de/10013148773

Tax Competition : Greenfield Investment Versus Mergers and Acquisitions

Becker, Johannes; Fuest, Clemens - 2021

In this paper, we analyze tax competition in a model where investor firms have the choice between two types of investment, greenfield investment and mergers and acquisitions. We show that the coexistence of these two types of investment intensifies tax competition in comparison to the case where...

Persistent link: https://www.econbiz.de/10013316566

A Model of Heterogeneous Firm Matches in Cross-Border Mergers & Acquisitions

Brakman, Steven - 2018

In contrast to empirical evidence, recent theories of cross-border mergers and acquisitions (M&As) assume perfect knowledge transfers – from high to low productivity firms – between acquirer and target. Using the Melitz (2003) model of heterogeneous firms, we develop a matching model of...

Persistent link: https://www.econbiz.de/10012914676

Lionel Robbins : A Methodological Reappraisal

Resende, Marcelo; Zeidan, Rodrigo M. - 2021

Lionel Robbins contributions are often discussed in terms of two main aspects. First, the delineation of the scope of economics in terms of decision making conditional on scarcity. Second, a more methodological concern with respect to scientific neutrality and the possibility of meaningful...

Persistent link: https://www.econbiz.de/10013316653

Culture and Cooperation

Gaechter, Simon; Herrmann, Benedikt; Thöni, Christian - 2021

Does the cultural background influence the success with which genetically unrelated individuals cooperate in social dilemma situations? In this paper we provide an answer by analyzing the data of Herrmann et al. (Science 2008, pp. 1362-1367), who study cooperation and punishment in sixteen...

Persistent link: https://www.econbiz.de/10013316208

CEO Preferences and Acquisitions

Jenter, Dirk - 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/10013117262

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