Showing 1 - 10 of 836
high in relation to the synergies that motivated the premiums paid. In this paper, we illustrate the performance … implications of overstated synergies and develop a ten-step reference model for the calculation of synergies in order to avoid … overestimating their potential. After that, we present three case studies in which we assess how synergies are determined in practice …
Persistent link: https://www.econbiz.de/10008580345
This paper illustrates that taking alternative mergers into consideration when analyzing the effects of a proposed …
Persistent link: https://www.econbiz.de/10005106799
This paper proposes an explanation as to why some mergers fail, based on the interaction between the pre- and post … course of action, the merger goes ahead but fails. Our unique equilibrium allows us to make predictions on which mergers are …
Persistent link: https://www.econbiz.de/10008550020
conglomerate mergers, a corresponding critical level of synergies is made explicit, and moral hazard-induced effects are deducted …Managers promises of future synergies are a common means to convince shareholders that an intended merger will raise … remains non-synergetic, and will not necessarily gain even if positive synergies can be realized. In a simple model of …
Persistent link: https://www.econbiz.de/10005616512
The mergers between AT&T and Cingular, Sprint and Nextel, and Verizon and Alltel telecommunication companies have … companies completed the ideal merger? The thesis analyzes the mergers in chronological order of the merger deals starting from …
Persistent link: https://www.econbiz.de/10009463666
In recent years there has been a dramatic increase in delistings from stock exchanges in the US and Europe, and this trend has been partly attributed to increasing administrative costs in listed companies. Has corporate governance regulation gone too far? We examine delistings from European...
Persistent link: https://www.econbiz.de/10010989423
We investigate the efficiency, foreclosure, and collusion rationales for vertical integration in a large sample of vertically related takeovers. The efficiency rationale, as discussed under the transaction cost economics and property rights theories, posits that vertical integration mitigates...
Persistent link: https://www.econbiz.de/10010990522
In a mutual control structure agents exercise control over each other. Typical examples occur in the area of corporate governance firms and investment companies exercise mutual control, in particular by owning each others stocks. In this paper we formulate a general model for such situations....
Persistent link: https://www.econbiz.de/10010856553
and mergers and acquisitions (M&A). Working in a monopolistically competitive environment, merging firms do not reduce … competition. Mergers are motivated by efficiency gains and transfer of technology and expertise. Following empirical evidence, I …
Persistent link: https://www.econbiz.de/10010887012
The article is a review of the literature on the importance of organizational culture in mergers and acquisitions (M …
Persistent link: https://www.econbiz.de/10010906127