A modified approach to the fuzzification of coalitional games with transferable utility is suggested and its basic properties are derived and discussed. The approach belongs to those which fuzzify the expected pay-offs of coalitions, and it is closely related to the method investigated in [7]....

A game-theoretical model of the investment value formation of the instruments of corporate control (shares or stakes in equity) is formulated and analyzed. It is shown that this value depends significantly on the allocation of equity among the owners, and the on the possibilities of the...

We explain the empirical puzzle why mergers reduce profits, and raise share prices. If being an 'insider' is better than being an 'outsider', firms may merge to preempt their partner merging with a rival. The stock-value is increased, since the risk of becoming an outsider is eliminated. We also...