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The location of cross-border mergers & acquisitions in the USA
Brakman, Steven; Garretsen, Harry; Marrewijk, Charles van - 2015 - First version: October 2014, this version: April 2015
neglected. In this paper we analyze the within country location-target selection of M&As in the USA. Extending Guadalupe (2012 … the USA for the period 1985-2012, we compare location choices of cross-border M&As to that of national M&As. We find that … across the USA than national M&As, and that for both forms of M&As location specific market access in the USA as well as …
Persistent link: https://www.econbiz.de/10010515424
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CEO preferences and acquisitions
Jenter, Dirk; Lewellen, Katharina - 2011
This paper explores the impact of target CEOs' retirement preferences on the incidence, the pricing, and the outcomes of takeover bids. Mergers frequently force target CEOs to retire early, and CEOs' private merger costs are the forgone benefits of staying employed until the planned retirement...
Persistent link: https://www.econbiz.de/10009412377
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Pension benefit insurance and pension plan portfolio choice
Crossley, Thomas F.; Jametti, Mario - 2008
Pension benefit guarantee policies have been introduced in several countries to protect private pension plan members from the loss of income that would occur if a plan was underfunded when the sponsoring firm terminates a plan. Most of these public insurance schemes face financial difficulty and...
Persistent link: https://www.econbiz.de/10003803567
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Sales performance and social preferences
Essl, Andrea; Bieberstein, Frauke von; Kosfeld, Michael; … - 2018
We use an incentivized experimental game to uncover heterogeneity in other-regarding preferences among salespeople in a large Austrian retail chain. Our results show that the majority of agents take the welfare of others into account but a significant fraction reveals self-regarding behavior....
Persistent link: https://www.econbiz.de/10011845322
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How social reputation networks interact with competition in anonymous online trading : an experimental study
Bolton, Gary E. (contributor);  … - 2008
Persistent link: https://www.econbiz.de/10003674386
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Do mergers among multimarket firms create value?
Linde, Sebastian; Siebert, Ralph - 2016
Merger value is frequently evaluated in single market contexts without considering possible gains stemming from firms' multimarket presence. This study concentrates on the question through which channels, and of which magnitude, mergers among multimarket firms create incremental value. We...
Persistent link: https://www.econbiz.de/10011549386
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Downstream merger with oligopolistic input suppliers
Lommerud, Kjell Erik; Straume, Odd Rune; Sørgard, Lars - 2002
We examine how a downstream merger affects input prices and, in turn, the profitability of a such a merger under Cournot competition with differentiated products. Input suppliers can be interpreted as ordinary upstream firms, or trade unions organising workers. If the input suppliers are...
Persistent link: https://www.econbiz.de/10011409994
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Upward pricing pressure of mergers weakening vertical relationships
Langus, Gregor; Lipatov, Vilen - 2015
We modify the UPP test of Farrell and Shapiro (2010) to take into account the possibility that a merger weakens (or eliminates) a vertical supply relationship. After deriving a general effect of the merger, we provide an example of simple estimation strategy when only prices, costs and market...
Persistent link: https://www.econbiz.de/10011411835
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Merger in contests
Huck, Steffen; Konrad, Kai A.; Müller, Wieland - 2000
Competition in some markets is a contest. This paper studies the merger incentives in such markets. Merger can be profitable. The profitability depends on the post-merger contest st ructure, the discriminatory power of the contest and on the number of contestants
Persistent link: https://www.econbiz.de/10009781515
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Selling reputation when going out of business : presented at CEFifo Area Conference on Industrial Organisation, March 2004
Hakenes, Hendrik; Peitz, Martin - CESifo Area Conference on Industrial Organisation … - 2004
Is the reputation of a firm tradeable when the previous owner has to retire even though ownership change is observable? We consider a competitive market in which a share of owners must retire in each period. New owners, observing only recent profits, bid for the firms on sale. Customers are...
Persistent link: https://www.econbiz.de/10011449475