Showing 1 - 10 of 1,273
banks in individual EU countries help to explain the nature of cross-border merger activity. If they wish to protect …
Persistent link: https://www.econbiz.de/10012463202
The merger of Fleet and BankBoston in September 1999 resulted in a regional New England lending market in which only … one large, universal bank remained. We explore the extent to which that merger resulted in monopoly rents for the combined … merger, Fleet and BankBoston charged unusually low loan interest rates, reflecting their ability to realize economies of …
Persistent link: https://www.econbiz.de/10012467332
This paper documents a set of stylized facts about recent trends in cross-border M&A (CBMA) activity around the world. The facts focus on key features of CBMA such as (i) the magnitude; (ii) how it varies across industries and locations; (iii) how it compares to levels of greenfield FDI over time;...
Persistent link: https://www.econbiz.de/10012479366
This paper examines the relation between ownership, corporate form, and innovation for a cross-section of private and publicly traded innovating firms in the US and 15 European countries. A striking novel observation emerges from our analysis: while most innovating firms in the US are publicly...
Persistent link: https://www.econbiz.de/10012463346
This paper describes and considers explanations for changes in corporate governance and merger activity in the United … States since 1980. Corporate governance in the 1980s was dominated by intense merger activity distinguished by the prevalence … of leveraged buyouts (LBOs) and hostility. After a brief decline in the early 1990s, substantial merger activity resumed …
Persistent link: https://www.econbiz.de/10012470504
In a corporate freeze-out, the controller is required to compensate minority shareholders for the no-freezeout value of their shares that are taken from them. This paper seeks to highlight the difficulties involved in determining this no-freezeout value when private information. In particular,...
Persistent link: https://www.econbiz.de/10012471869
We examine performance and management characteristics of Fortune 500 firms experiencing one of three types of control change: internally precipitated management turnover, hostile takeover, and friendly takeover. We find that firms experiencing internally precipitated management turnover perform...
Persistent link: https://www.econbiz.de/10012476534
The health care industry is being transformed. Large firms are merging and acquiring other firms. Alliances and contractual relations between players in this market are shifting rapidly. Within the next few years, many markets are predicted to be dominated by a few large firms. Antitrust...
Persistent link: https://www.econbiz.de/10012472112
this, the UK government has pursued an active policy of hospital merger. These mergers are initiated by a regulator, acting … on behalf of the public, and justified on the grounds that merger will improve outcomes. We examine whether this promise … involved in a merger, but that politics means that selection for a merger may be random with respect to future performance. We …
Persistent link: https://www.econbiz.de/10012461049
This paper, which introduces the special issue on corporate governance co-sponsored by the Review of Financial Studies and the National Bureau of Economic Research (NBER), reviews and comments on the state of corporate governance research. The special issue features seven papers on corporate...
Persistent link: https://www.econbiz.de/10012463112