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Using a sample of control cross-border acquisitions from 61 countries from 1990 to 2007, we find that acquirers from countries with better governance gain more from such acquisitions and their gains are higher when targets are from countries with worse governance. Other acquirer country...
Persistent link: https://www.econbiz.de/10013131665
Do acquirors profit from acquisitions, or do CEOs overbid and destroy shareholder value? We propose a novel approach to measuring the long-run returns to mergers. In a new data set of close bidding contests we use losers' post-merger performance to construct the counterfactual performance of...
Persistent link: https://www.econbiz.de/10013107194
acquisition target based on its productivity level, profitability and other characteristics and whether the performance of … acquisitions improved target firms%u2019 productivity and profitability significantly more and quicker than acquisitions by … domestic firms.Moreover, we find that there is no positive impact on target firms%u2019 profitability in the case of both …
Persistent link: https://www.econbiz.de/10012760742
We explore how changes in ownership and managerial control affect the productivity and profitability of producers … gains in capacity utilization that raised both their productivity and profitability levels, consistent with acquiring owner …
Persistent link: https://www.econbiz.de/10013058693
We study the efficiency of capital allocations at state-controlled and privately owned business groups in China. Using …
Persistent link: https://www.econbiz.de/10013028547
We use responses to a survey and experiment with participants in Mexico's privatized social security system to examine how financial literacy impacts workers' choice behavior and how simplifying information on management fees may increase measures of price elasticity sensitivity among the...
Persistent link: https://www.econbiz.de/10012758108
aggregate ownership transfers improve profitability, though not in cases where the transfers themselves were corrupted …
Persistent link: https://www.econbiz.de/10013054514
This paper is a critical review of east German privatization policy. It is argued that the restitution of old property …
Persistent link: https://www.econbiz.de/10013224870
insufficient claims on state owned enterprises. The centralized privatization of state owned enterprises, which bypasses the East … German population, is seen as a major obstacle to quick recovery, and an alternative privatization procedure is discussed …
Persistent link: https://www.econbiz.de/10013230602
-level productivity. We also examine whether M&As increase efficiency through reallocation of production to more efficient plants or …
Persistent link: https://www.econbiz.de/10012980667