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Social Capital and Individual Ethics : Evidence from Financial Advisers Misconduct
Bai, John (Jianqiu) - 2020
We show that social capital has a strong mitigating effect on financial adviser misconduct in the United States. Moreover, advisers who have committed misconduct are also more likely to relocate to counties with a relatively lower level of social capital than that of his previously residing...
Persistent link: https://www.econbiz.de/10012847465
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Dynamics in ownership and firm survival: evidence from corporate Germany
Heiss, Florian; Köke, Jens - 2001
This study investigates the determinants of changes in corporate ownership and firm failure, taking into account different types of sellers and buyers of control blocks. For a large panel of German corporations we find that firms are more likely to fail or to be sold when performance is poor,...
Persistent link: https://www.econbiz.de/10010297800
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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 … manager owner significantly decreases that firm's probability of being a takeover target. -- ownership structure ; property …
Persistent link: https://www.econbiz.de/10003931309
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The discontinuous integration of Western Europe’s heterogeneous market for corporate control from 1995 to 2007
Frey, Rainer - 2010
As, in Europe, many institutional reforms have been undertaken to establish an economic union, it can be expected that the relevance of borders has decreased over time. For the EU 15, we investigate the expected integration process of the market for corporate control – an illustrative market...
Persistent link: https://www.econbiz.de/10003986833
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The impact of foreign acquisitions on the investors' R&D activities : firm-level evidence
Stiebale, Joel - 2010
This paper provides empirical evidence on the relationship between cross-border acquisitions and innovation activities at the firm level. In contrast to previous studies that analyze the effects on innovation in target firms, this paper investigates the effects on the investing firms. For the...
Persistent link: https://www.econbiz.de/10003924470
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Absorptive capacity and post-acquisition inventor productivity
Hussinger, Katrin - 2010
Inventors often experience a low productivity after their company has been subject to a merger or acquisition (M&As). It is of central managerial interest to identify factors facilitating the integration of new inventive staff and thereby counteracting innovation declines after M&As. This paper...
Persistent link: https://www.econbiz.de/10008660550
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Preemptive bidding, target resistance, and takeover premiums
Dimopoulos, Theodosios; Sacchetto, Stefano - 2011
This paper empirically evaluates two possible sources of large takeover premiums: preemptive bidding and target … resistance. We develop an auction model that features costly sequential entry of bidders in takeover contests and that … in the period 1988-2006. We find that target resistance is the main determinant of takeover premiums in 74% of successful …
Persistent link: https://www.econbiz.de/10009375142
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Mean and bold?
De Witte, Kristof; Dijkgraaf, Elbert - 2007
The Dutch drinking water sector experienced two drastic changes over the last 10 years. Firstly, in 1997, the sector association started with a voluntary benchmarking aimed to increase the efficiency and effectiveness of the sector. Secondly, merger activity arose. This paper develops a tailored...
Persistent link: https://www.econbiz.de/10011373828
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The wage premium of globalization : evidence from European mergers and acquisitions
Oberhofer, Harald; Stöckl, Matthias; Winner, Hannes - 2012
We provide evidence on the impact of globalization on labor market outcomes analyzing pay differences between foreign-acquired and domestically-owned firms. For this purpose, we use firm level data from 16 European countries over the time period 1999 to 2006. Applying propensity score matching...
Persistent link: https://www.econbiz.de/10009731061
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Employment effects of acquisitions : evidence from acquired European firms
Oberhofer, Harald - 2010
This paper examines the employment effects of acquisitions for acquired European firms taking non-random selection of acquisition targets explicitly into account. Following the empirical firm growth literature and theories put forward in the mergers and acquisition (M&A) literature we control...
Persistent link: https://www.econbiz.de/10009731774