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Buying to sell : private equity buyouts and industrial restructuring

Norbäck, Pehr-Johan; Persson, Lars; Tåg, Joacim - 2013

We show how temporary ownership by private equity firms affects industry structure, competition and welfare. Temporary ownership leads to strong investment incentives because equilibrium resale prices are determined by buyers incentives to block rivals from obtaining assets. These incentives...

Persistent link: https://www.econbiz.de/10009772935

Entrepreneurial human capital, complementary assets, and takeover probability

Braun, Thorsten V.; Krispin, Sebastian; Lehmann, Erik - 2009

mergers and acquisitions. In this paper we show that a knowledge-based firm's probability of being a takeover target is … firm's assets in the spirit of the Grossman-Hart-Moore incomplete contracts theory of the firm. This approach highlights … manager owner significantly decreases that firm's probability of being a takeover target. -- ownership structure ; property …

Persistent link: https://www.econbiz.de/10003931309

Entrepreneurial human capital, complementary assets, and takeover probability

Braun, Thorsten V.; Krispin, Sebastian; Lehmann, Erik - 2010

collected dataset of all German IPOs from 1997 until 2006 we show that the takeover probability of young and high tech firms …

Persistent link: https://www.econbiz.de/10009514533

The Social Side of Mergers and Acquisitions : Cooperation relationships after mergers and acquisitions

Frensch, Florian - 2007

Persistent link: https://www.econbiz.de/10013520860

The social side of mergers and acquisitions : cooperation relationship after mergers and acquisitions

Frensch, Florian - 2007 - 1. Aufl.

Persistent link: https://www.econbiz.de/10003438451

Does it Pay to Have Friends? - Social Ties and Executive Appointments in Banking

Berger, Allen N. - 2014

We exploit a unique sample to analyze how homophily (affinity for similar others) and social ties affect career outcomes in banking. We test if these factors increase the probability that the appointee to an executive board is an outsider without previous employment at the bank compared to being...

Persistent link: https://www.econbiz.de/10013065616

Does it Pay to Have Friends? Social Ties and Executive Appointments in Banking

Berger, Allen N. - 2016

Social capital theory predicts individuals establish social ties based on homophily, i.e., affinities for similar …

Persistent link: https://www.econbiz.de/10012989217

Index Fund and ETF Ownership and the German Market for Corporate Control

Dobmeier, Ludwig - 2019

If a bidder launches a takeover offer for a listed company being part of a stock market index, then index funds and …. This paper analyzes the impact of index fund and ETF ownership on the success of takeover offers in Germany. Based on a … sample of 323 takeover offers of publicly listed German companies between 2006 and 2018, we document a significant negative …

Persistent link: https://www.econbiz.de/10012864050

Control transfers in corporate Germany : their frequency, causes and consequences

Köke, F. Jens - 2000

This study examines changes in block ownership for a large sample of listed and non-listed German firms. The frequency of block trading is similar to other countries, and the vast majority of block trades leads to changes in ultimate ownership (control transfers). Such changes are more likely...

Persistent link: https://www.econbiz.de/10013428382

Determinants of acquisition and failure : stylized facts and lessons for empirical studies

Köke, F. Jens - 2001

This study provides new stylized facts on the determinants of corporate failure and acquisition in Germany. It also offers important lessons for the design of empirical studies. We show that firms experiencing failure or acquisition are significantly different from surviving firms on a number of...

Persistent link: https://www.econbiz.de/10013428411

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