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Do mergers create or destroy value? Evidence from unsuccessful mergers
Cole, Rebel; Fatemi, Ali; Vu, Joseph - Volkswirtschaftliche Fakultät, … - 2006
partially, but not completely, reversed by termination announcement returns, evidence that the merger proposal itself contains … examining how merger bids and terminations affect the relative values of bidders attempting diversifying and focusing takeovers …
Persistent link: https://www.econbiz.de/10005837001
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Mergers as Auctions
Ivaldi, Marc; Motis, Jrissy - C.E.P.R. Discussion Papers - 2007
structural approach to infer acquirers’ gains from merging by interpreting a merger as an auction. Using nonparametric methods …
Persistent link: https://www.econbiz.de/10005656211
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Announcement Of The Exchange Ratio Of The Merging Companies - Impact On The Acquiring Firms "
Czerwonka, Leszek - In: Analele Stiintifice ale Universitatii "Alexandru Ioan … 58 (2011) november, pp. 83-90
In merger transactions the value of the share exchange ratio is essential, because it affects the distribution of the … benefits of the merger. The aim of this study is to analyze the impact of announcements of the agreed by boards share exchange … ratios on the valuation of shares of companies involved in the merger as acquiring companies. The method used for measuring …
Persistent link: https://www.econbiz.de/10010558953
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Effects of Mergers in Two-Sided Markets: The US Radio Industry
Przemys?aw Jeziorski - In: American Economic Journal: Microeconomics 6 (2014) 4, pp. 35-73
1996-2006 merger wave in the U.S. radio industry. In particular, it identities the conflicting incentives for merged firms …
Persistent link: https://www.econbiz.de/10010949150
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Does Vertical Integration Decrease Prices? Evidence from the Paramount Antitrust Case of 1948
Gil, Ricard - In: American Economic Journal: Economic Policy 7 (2015) 2, pp. 162-91
I empirically examine the impact of the 1948 Paramount antitrust case on ticket prices using a unique dataset collected from Variety magazine issues between 1945 and 1955. With information on prices, revenues, and theater ownership for an unbalanced panel of 393 theaters in 26 cities, I find...
Persistent link: https://www.econbiz.de/10011269000
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The Price of Media Capture and the Looting of Newspapers in Interwar France
Bignon, Vincent; Flandreau, Marc - International Economics Section, The Graduate Institute … - 2012
This paper develops a new insight enabling the empirical study of media capture: minority shareholders of newspapers and readers face similar risks. Both are adversely affected when corrupt insiders use the newspaper for personal profit and receive invisible revenues. This means that relevant...
Persistent link: https://www.econbiz.de/10010761489
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The Price of Media Capture and the Looting of Newspapers in Interwar France
Bignon, Vincent; Flandreau, Marc - C.E.P.R. Discussion Papers - 2012
This paper develops a new insight enabling the empirical study of media capture: minority shareholders of newspapers and readers face similar risks. Both are adversely affected when corrupt insiders use the newspaper for personal profit and receive invisible revenues. This means that relevant...
Persistent link: https://www.econbiz.de/10011083663
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The role of the media in a bubble
Campbell, Gareth; Turner, John D.; Walker, Clive B. - In: Explorations in Economic History 49 (2012) 4, pp. 461-481
We examine the role of the news media during the British Railway Mania, arguably one of the largest financial bubbles in history. Our analysis suggests that the press responded to changes in the stock market, and its reporting of recent events may have influenced asset prices. However, we find...
Persistent link: https://www.econbiz.de/10010580551
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The Protestant Fiscal Ethic: Religious Confession and Euro Skepticism in Germany
Chadi, Adrian; Krapf, Matthias - Départment d'économétrie et d'économie politique … - 2015
During the European sovereign debt crisis, most countries that ran into fiscal trouble had Catholic majorities, whereas countries with Protestant majorities were able to avoid fiscal problems. Survey data show that, within Germany, views on the euro differ between Protestants and...
Persistent link: https://www.econbiz.de/10011213639
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Parents, Television and Cultural Change
Hauk, Esther; Immordino, Giovanni - Barcelona Graduate School of Economics (Barcelona GSE) - 2011
This paper develops a model of cultural transmission where television plays a central role for socialization. Parents split their free time between educating their children which is costly and watching TV which though entertaining might socialize the children to the wrong trait. The free to air...
Persistent link: https://www.econbiz.de/10010692006