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In this paper, I investigate the influence of tax incentives on the financial structures of mergers and acquisitions (M&A) conducted by multinational entities (MNE). Previous research has already found evidence for tax avoidance by debt shifting. I analyze the importance of locating debt at...
Persistent link: https://www.econbiz.de/10011782963
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In 2005, the President of the Bank of Italy blocked the cross-border acquisition of two Italian banks for prudential … and political interference is not only a barrier to cross-border consolidation in Italy, but in other EU countries as well …
Persistent link: https://www.econbiz.de/10003918454
In 2005, the President of the Bank of Italy blocked the cross-border acquisition of two Italian banks for ‘prudential … reasons and formal errors’. Following these events, the EU Commission brought actions against Italy for infringement of the …
Persistent link: https://www.econbiz.de/10003608104
We investigate real investment, financial revenues and profits in formerly domestic firms once they enter a multinational entity (MNE) through an acquisition. We argue that following the acquisition, those targets are tax-optimized in a profit shifting context if they are acquired by MNEs with...
Persistent link: https://www.econbiz.de/10011756005
This paper investigates the motive of pre-empting technology competition through mergers and acquisitions (M&A). Exploiting the patent application procedure at the European Patent Office we introduce a new measure for the possibility to create entry barriers in technology markets. Our results...
Persistent link: https://www.econbiz.de/10003461263
&As). It is of central managerial interest to identify factors facilitating the integration of new inventive staff and thereby … firm capability that enhances the integration of inventors after firm takeovers. -- M&As ; absorptive capacity ; inventor … von unternehmerischem Interesse, Faktoren zu identifizieren, welche die Integration von Erfindern nach …
Persistent link: https://www.econbiz.de/10008660550
This study examines changes in block ownership for a large sample of listed and non-listed German firms. The frequency of block trading is similar to other countries, and the vast majority of block trades leads to changes in ultimate ownership (control transfers). Such changes are more likely...
Persistent link: https://www.econbiz.de/10011445220
In the context of increasing globalization of markets, merger and acquisition activities in the 1990s are said to be driven by reorganization processes with respect to concentration on firms’ core competencies in order to increase or maintain market power in international markets. This paper...
Persistent link: https://www.econbiz.de/10002906069
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