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This paper explains why consolidation acquisitions occur in waves and it predicts the differing role each firm is … initial acquisition triggers a wave of follow-on acquisitions, where the process of asset accumulation by the consolidator is … accelerated since the value of follow-on acquisitions is enhanced by the more concentrated industry structure. An initial …
Persistent link: https://www.econbiz.de/10011372521
Private equity owned firms have more leverage, more intense compensation contracts, and higher productivity than comparable firms. We develop a theory of buyouts in oligopolistic markets that explains these facts. Private equity firms are more aggressive in inducing restructuring compared to...
Persistent link: https://www.econbiz.de/10010320382
Persistent link: https://www.econbiz.de/10003482665
expected target value, and uncertainty, determine value appropriation in acquisitions. …
Persistent link: https://www.econbiz.de/10010325204
expected target value, and uncertainty, determine value appropriation in acquisitions. …
Persistent link: https://www.econbiz.de/10011337396
This paper proposes a theory of gazelle growth in which gazelles can either grow organically or by acquisitions. In the … that financial support for the organic growth of gazelles can increase gazelles' growth by acquisitions since incumbents …
Persistent link: https://www.econbiz.de/10012145516
This paper proposes a theory of gazelle growth in which gazelles can either grow organically or by acquisitions. In the … that financial support for the organic growth of gazelles can increase gazelles' growth by acquisitions since incumbents …
Persistent link: https://www.econbiz.de/10012038308
Private equity owned firms have more leverage, more intense compensation contracts, and higher productivity than comparable firms. We develop a theory of buyouts in oligopolistic markets that explains these facts. Private equity firms are more aggressive in inducing restructuring compared to...
Persistent link: https://www.econbiz.de/10008476275
Persistent link: https://www.econbiz.de/10011695831
acquisitions. This view remains a presumption, which has not been empirically tested through a research study. Corporate … reconstruction through mergers and acquisitions, apparently as the only option to liquidation. This paper fills a gap in the … literature by investigating the effects of mergers and acquisitions on the efficiency, growth and profitability of corporate …
Persistent link: https://www.econbiz.de/10013090174