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and other influences by examining merger patterns for both listed and unlisted firms. If "real" changes in the economy … drive merger waves, as some neoclassical theories of mergers predict, both listed and unlisted firms should experience waves …. We find significant differences between listed and unlisted firms as predicted by behavioral theories of merger waves. …
Persistent link: https://www.econbiz.de/10003761009
Both M&A and innovation are instruments for growth and competitive advantage. Therefore they are fundamental to each firm's competitive strategy. Usually, both instruments have been studied separately, but much less in conjunction. This is unfortunate as both processes - the process of...
Persistent link: https://www.econbiz.de/10003554680
Persistent link: https://www.econbiz.de/10003224328
In the context of increasing globalization of markets, merger and acquisition activities in the 1990s are said to be …
Persistent link: https://www.econbiz.de/10002906069
The paper studies the effects of the Pfizer and Pharmacia (2003) merger on competition in the Swiss pharmaceutical … market and compares the assessment of the Swiss Competition Commission (COMCO) with the post-merger market developments. We … find that the merger has had a miniscule impact on the Swiss pharmaceutical market. This has primarily to do with the fact …
Persistent link: https://www.econbiz.de/10009011228
dataset on the transparency on merger control in the EU banking sector, we estimate the probability that a bank is taken over … merger control lacks transparency. This is in line with the hypothesis that governments may block crossborder bank merger …Although there is anecdotal evidence that merger control may constitute a barrier to the integration of European retail …
Persistent link: https://www.econbiz.de/10003634823
paper provides empirical evidence on post-merger mobility and productivity of 673 inventors employed by European acquisition … with the merged entity; 2.) inventors that left the acquired firm are less productive in post-merger years than those that …
Persistent link: https://www.econbiz.de/10003607986
Over the last few years, worldwide mergers and acquisitions (M&A) have increased sharply both in terms of value and volume. This development has not only been driven by corporate acquirers but also to an increasing extent by private equity investors. In this paper, we analyze differences in...
Persistent link: https://www.econbiz.de/10003578401
probability that a bank is taken over as a function of bank and country characteristics and the transparency of merger control … market. Based on a dataset on the transparency on the supervisory review process of bank mergers in the EU, I estimate the … regulatory process is transparent. Particularly large banks seem to be less likely to be taken over by foreign banks if merger …
Persistent link: https://www.econbiz.de/10003922576
, products or other valuable resources of the target firm. Given this heterogeneity of takeover motivations and the skewness of … the distribution of the deal value we show whether and how the importance of different takeover motivations changes along …
Persistent link: https://www.econbiz.de/10003721826