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Foreign and domestic takeovers in Germany: First comparative evidence on the post-acquisition target performance using new data

Weche Gelübcke, John P. - 2012

acquisitions to account for a general takeover effect. The study is based on new high-quality panel data for manufacturing …

Persistent link: https://www.econbiz.de/10010294459

Foreign and domestic takeovers in Germany: Cherry-picking and lemon-grabbing

Weche-Gelübcke, John P. - 2012

This study focuses on ex ante performance of domestic and foreign takeover targets in Germany, one of the most … well as binary response model estimations of takeover probabilities were performed for the manufacturing and service sector … separately. The results showed a diametrically opposing impact of productivity and profitability on the takeover likelihood. This …

Persistent link: https://www.econbiz.de/10010294465

Location Choices of Multinational Firms: The Case of Mergers and Acquisitions

Zitouna, Habib; Mucchielli, Jean-Louis; Bertrand, Olivier - 2004

This article examines the location choices of cross-border Mergers and Acquisitions (M&A) between OECD members´ firms in the 1990`s. In addition to traditional determinants of FDI, we estimate the impact of specific factors affecting the M&A location pattern. Two distinct econometric methods...

Persistent link: https://www.econbiz.de/10010295407

Foreign Takeovers and Wages: Theory and Evidence from Hungary

Csengődi, Sándor; Jungnickel, Rolf; Urban, Dieter M. - 2005

This study discriminates FDI technology spillover from learning effects. Whenever learning takes time, our model predicts that foreign investors deduct the economic value of learning from wages of inexperienced workers and add it to experienced ones to prevent them from moving to local...

Persistent link: https://www.econbiz.de/10010295466

The role of technology in M&As: a firm-level comparison of cross-border and domestic deals

Frey, Rainer; Hussinger, Katrin - 2006

Technological change is often hypothesized as one of the main drivers of merger activities. This paper analyzes the role of technology in mergers and acquisitions (M&As) at the firm level. Based on a newly created data set that combines financial information and patent data for public limited...

Persistent link: https://www.econbiz.de/10010295834

Accounting for distress in bank mergers

Koetter, Michael; Bos, Jaap W. B.; Heid, Frank; Kool, … - 2005

The inability of most bank merger studies to control for hidden bailouts may lead to biased results. In this study, we employ a unique data set of approximately 1,000 mergers to analyze the determinants of bank mergers. We use data on the regulatory intervention history to distinguish between...

Persistent link: https://www.econbiz.de/10010295902

Evaluating the German bank merger wave

Koetter, Michael - 2005

German banks experienced a merger wave throughout the 1990s. However, the success of bank mergers remains a continuous matter of debate. In this paper we suggest a taxonomy as how to evaluate post-merger performance on the basis of cost efficiency (CE). We categorise mergers a success that...

Persistent link: https://www.econbiz.de/10010295905

The success of bank mergers revisited: an assessment based on a matching strategy

Heid, Frank; Behr, Andreas - 2008

The question of whether or not mergers and acquisitions have helped to enhance banks' efficiency and profitability has not yet been conclusively resolved in the literature. We argue that this is partly due to the severe methodological problems involved. In this study, we analyze the effect of...

Persistent link: https://www.econbiz.de/10010295943

Cross-Border Mergers as Instruments of Comparative Advantage

Neary, J. Peter - 2004

A two-country model of oligopoly in general equilibrium is used to show how changes in market structure accompany the process of trade and capital market liberalisation. The model predicts that bilateral mergers in which low-cost firms buy out higher-cost foreign rivals are profitable under...

Persistent link: https://www.econbiz.de/10010296383

Review of the Literature on the Impact of Mergers on Innovation

Schulz, Norbert - 2007

Persistent link: https://www.econbiz.de/10010296553