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Verkaufsanstrengungen auf alle Produkte verteilen („Kollusion“) oder ob sie die Anzahl ihrer Produkte reduzieren („Fusion“). Wir zeigen, daß …, in denen Kooperation in Form von „Kollusion“ oder „Fusion“ für die kooperierenden Unternehmen profitabel ist. …
Persistent link: https://www.econbiz.de/10009367922
(VF)À partir du cas d’une fusion entre une grande entreprise et une start-up dans le secteur des TIC, cet article met … amené les dirigeants à opter pour un troisième modèle de type symbiotique (phase 3). (VA)This article explores the merger of …
Persistent link: https://www.econbiz.de/10005042534
and welfare – improving even if costs are linear. The driving force behind these results, which help to reconcile theory … Unternehmen vor der Fusion. Wir zeigen in dieser Arbeit, dass horizontale Fusion von Unternehmen aus diesen Gründen profitabel für … die fusionierenden Unternehmen und wohlfahrtserhöhend wirken kann, selbst dann, wenn es durch die Fusion keinerlei …
Persistent link: https://www.econbiz.de/10009370662
This paper examines the bonding effect of cross-listing before and after the stock market liberalization reforms in China. Consistent with the bonding hypothesis, we find that Chinese firms with foreign listings attain higher valuations than firms without foreign listings. We also find that they...
Persistent link: https://www.econbiz.de/10010906606
In the stock market crash of 2000 many internet firms that were ostensibly bankrupt were able to stave off bankruptcy by seeking protection under Chapter 11 or avoid it completely through refinancing or merging with another company. The implication is that these firms had a de facto option to...
Persistent link: https://www.econbiz.de/10010936594
Entre las dificultades de indole practico que encuentran los modelos de valoracion se encuentran las de la elevada cantidad de informacion que necesitan para su aplicacion, y la problematica de integrar en el proceso informacion de tipo cualitativo. La valoracion multicriterio permite soslayar...
Persistent link: https://www.econbiz.de/10010936990
The CAPM implies that investors require equity risk premia when choosing risky investments and therefore demand higher returns to equity invested if higher risk is present. This should apply to investments in independent enterprises and multi-national enterprises alike. This hypothesis is...
Persistent link: https://www.econbiz.de/10010941794
This paper studies the relation between firm value and a firm's growth options. We find strong empirical evidence that (average) Tobin's Q increases with firm-level volatility. However, the significance mainly comes from R&D firms, which have more growth options than non-R&D firms. By...
Persistent link: https://www.econbiz.de/10010955118
South Africa (SA) has pursued corporate governance reforms in the form of the 1994 and 2002 King Reports. This paper examines the association between the presence of independent non-executive directors (INEDs) and market valuation of a sample of 169 firms listed on the Johannesburg Stock...
Persistent link: https://www.econbiz.de/10011260623
Investment contract duration is a key parameter for venture capital funds operation. Variables influencing the decision around this parameter are usually treated in general principles in the classical financial literature leaving plenty of room for context sensitive research. As such, we studied...
Persistent link: https://www.econbiz.de/10011266494