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relatively low in value added per employee at the time of takeover and before, a characteristic we take to indicate relatively …-term recoveries after takeover from the misfortunes of the takeover year and a return to higher growth rates of employment and output … year or two after takeover but seem to have increased their profitability or efficiency relative to their industries. The …
Persistent link: https://www.econbiz.de/10012478083
Using a new data set, we examine the characteristics and dynamics of cross-border mergers and acquisitions during emerging-market financial crises, that is, so-called "fire-sale FDI". Our findings shed fresh light on whether the transactions undertaken during crisis periods differ in fundamental...
Persistent link: https://www.econbiz.de/10012459824
While output declined in virtually all transition economies in the initial years, the speed and extent of the recovery that followed has varied widely across these countries. The contrast between the more and less successful transitions, the latter largely in the former Soviet Union, raises many...
Persistent link: https://www.econbiz.de/10012471103
This paper examines alternative hypotheses concerning the determinants of success in the transition from Communism to the market. In particular, we look at whether speed of privatization, legal institutions or initial conditions are more important in explaining the growth of the transition...
Persistent link: https://www.econbiz.de/10012466679
Based on matching household surveys for three central European countries, Bulgaria, Hungary and Poland, we explore the determinants of household saving rates in transition economies. We find savings rates to increase strongly in relative income and to be significantly higher for households...
Persistent link: https://www.econbiz.de/10012472348
We have conducted the first survey on management practices in transition countries. We found that Central Asian transition countries, such as Uzbekistan and Kazakhstan, have on average very poor management practices. Their average scores are below emerging countries such as Brazil, China and...
Persistent link: https://www.econbiz.de/10012461426
that the tax losses and credits of acquired firms likewise exerted no impact on merger activity. Though the use of such …
Persistent link: https://www.econbiz.de/10012476878
Most US mergers are not reported to the government on the basis of their size, which can effectively exempt them from antitrust scrutiny, thereby leading to anticompetitive behavior. This paper studies premerger notification exemptions in the US dialysis industry. Over two decades, dialysis...
Persistent link: https://www.econbiz.de/10012481856
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
Despite the fact that one-third of worldwide mergers involve firms from different countries, the vast majority of the academic literature on mergers studies domestic mergers. What little has been written about cross-border mergers has focused on public firms, usually from the United States. Yet,...
Persistent link: https://www.econbiz.de/10012463518