Showing 1 - 10 of 15,282
This paper examines the determinants of mergers and bankruptcies, using firm level data from the Swiss Business Census and the Dun & Bradstreet exit database for Switzerland (1995-2000). Employing duration analysis, we find considerable differences in the determinants of mergers and...
Persistent link: https://www.econbiz.de/10010315602
This paper investigates the effects of horizontal acquisitions on the performance of target firms in the 1990's. Using French manufacturing firm-level data, we examine two main indicators of performance: the profit and the productive efficieny. We distinguish domestic from cross-in-difference...
Persistent link: https://www.econbiz.de/10010320125
The starting point of this paper is that the exit of venture-backed firms often takes place through sales to large incumbent firms. We show that in such an environment, venture-backed firms have a stronger incentive to develop basic innovations into commercialized innovations than incumbent...
Persistent link: https://www.econbiz.de/10010320055
We develop a theory of commercialization mode (entry or sale) of entrepreneurial inventions into oligopoly, and show …
Persistent link: https://www.econbiz.de/10010320309
comparable firms. We develop a theory of buyouts in oligopolistic markets that explains these facts. Private equity firms are …
Persistent link: https://www.econbiz.de/10010320382
We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are …
Persistent link: https://www.econbiz.de/10010291511
their aspiration level. Post-merger performance pattern confirm that family firms are able to create long-term value through … behavioural agency predictions, but can be reconciled with theory through a mixed gambles' lens. …
Persistent link: https://www.econbiz.de/10012109904
This paper investigates how the entry mode of foreign direct investment (FDI) affects the affiliate R&D activities using unique data on Swedish multinational firms over a long period of time (1970 to 1998). On average, acquired affiliates are more likely to do R&D and have a higher level of R&D...
Persistent link: https://www.econbiz.de/10010320182
We analyze how the entry mode of Foreign Direct Investments (FDI) affects affiliate R&D activities. Using unique affiliate level data for Swedish multinational firms, we first present empirical evidence that acquired affiliates have a higher level of R&D intensity than greenfield (start-up)...
Persistent link: https://www.econbiz.de/10010320220
We construct a model where incumbents can either acquire basic innovations from entrepreneurs, or wait and acquire developed innovations from entrepreneurial firms supported by venture capitalists. We show that venture-backed entrepreneurial firms have an incentive to overinvest in development...
Persistent link: https://www.econbiz.de/10010320298