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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 …
Persistent link: https://www.econbiz.de/10009781515
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Source versus residence based taxation with international mergers and acquisitions
Becker, Johannes; Fuest, Clemens - 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/10003910411
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Unlocking the value of cross-border mergers and acquisitions
Brakman, Steven; Garita, Gus; Garretsen, Harry; … - 2008
Persistent link: https://www.econbiz.de/10003711774
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Cross-border mergers & acquisitions : the facts as a guide for international economics
Brakman, Steven (contributor); Garretsen, Harry (contributor) - 2006
Persistent link: https://www.econbiz.de/10003379813
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Mergers and partial ownership
Foros, Oystein; Kind, Hans Jarle; Shaffer, Greg Eric - 2010
In this paper we compare the profitability of a merger to the profitability of a partial ownership arrangement and find …
Persistent link: https://www.econbiz.de/10003925257
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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
The research on the location choice for Foreign Direct Investment (FDI) is traditionally restricted to a choice between countries. The within-country location choice is less prominent in the literature. If within-country location decisions are considered it is mostly limited to Greenfield...
Persistent link: https://www.econbiz.de/10010515424
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Buying to sell : private equity buyouts and industrial restructuring
Norbäck, Pehr-Johan; Persson, Lars; Tåg, Joacim - 2013
We show how temporary ownership by private equity firms affects industry structure, competition and welfare. Temporary ownership leads to strong investment incentives because equilibrium resale prices are determined by buyers incentives to block rivals from obtaining assets. These incentives...
Persistent link: https://www.econbiz.de/10009772935
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Effects of territorial and worldwide corporation tax systems on outbound M&As
Feld, Lars P.; Ruf, Martin; Scheuering, Uwe; Schreiber, … - 2013
Repatriation taxes reduce the competitiveness of multinational firms from tax credit countries when bidding for targets in low tax countries. This comparative disadvantage with respect to bidders from exemption countries violates ownership neutrality, which results in production inefficiencies...
Persistent link: https://www.econbiz.de/10010199701
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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 firms create incremental value. We establish a simple theoretical model that determines merger value in a multimarket … firm environment. The model enables us to derive merger values as being independent of post-merger market shares, but …
Persistent link: https://www.econbiz.de/10011549386
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The role of toeholds and capital gains taxes for corporate acquisition strategies
Liberini, Federica; Russo, Antonio; Stimmelmayr, Michael - 2016
cash and stock used to finance the takeover (the method of payment). Within this framework, we analyze the effect of the …
Persistent link: https://www.econbiz.de/10011554398