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Merger performance and managerial incentives
Kräkel, Matthias; Müller, Daniel - 2014
information about suitable merger targets and to manage the merged corporation in case of an acquisition. Our results show that … obtain high-powered incentives and, hence, a high personal income at the merger-management stage. …
Persistent link: https://www.econbiz.de/10011430291
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Cross-border mergers and hollowing-out
Secrieru, Oana - 2009
refer to hollowing-out as the situation where the target firm is shut down following a merger with a domestic or foreign … when a cross-border merger with hollowing out is not profitable but it is socially desirable. -- Economic models …
Persistent link: https://www.econbiz.de/10003933343
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Efficiency, Value Addition and Performance of US Bank Mergers
Khan, Abu - 2017
that the industry-adjusted operating performance of merged banks increases significantly after a merger. This finding is … significantly after a merger. Revenue enhancement opportunity appears to be more profitable if there exists more opportunity for …
Persistent link: https://www.econbiz.de/10012964750
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Mergers and acquisitions - the standing of theory in the quest for better institutions and policy
Jensen, Camilla - 2010
The paper shows that the standing of theory in the field of mergers and acquisitions is weak for at least three reasons. Research is best described as a battlefield of ad hoc theory testing leaving behind a fragmented field. Research has focused traditionally on high intensity markets under the...
Persistent link: https://www.econbiz.de/10003973902
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Technological Specialization and the Decline of Diversified Firms
Anjos, Fernando - 2018
We document a strong decline in corporate-diversification activity since the late 1970's, and we develop a dynamic model that explains this pattern, both qualitatively and quantitatively. The key feature of the model is that synergies endogenously decline with technological specialization,...
Persistent link: https://www.econbiz.de/10012940392
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Multiproduct Mergers and the Product Mix in Domestic and Foreign Markets
Chan, Jackie M.L; Irlacher, Michael; Koch, Michael - 2022
post-merger efficiency improvements to reveal a new margin of adjustment along the product dimension. We analyze horizontal … between differentiated varieties. After a merger, acquirers drop products from their consolidated domestic product portfolio … and reallocate assets towards core varieties. We further demonstrate that such merger-induced efficiency gains imply …
Persistent link: https://www.econbiz.de/10013290783
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Mergers and Acquisitions - The Standing of Theory in the Quest for Better Institutions and Policy
Jensen, Camilla - 2010
The paper shows that the standing of theory in the field of mergers and acquisitions is weak for at least three reasons. Research is best described as a battlefield of ad hoc theory testing leaving behind a fragmented field. Research has focused traditionally on high intensity markets under the...
Persistent link: https://www.econbiz.de/10013144632
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Mergers, Accountants and Economic Efficiency
Meeks, Geoff - 2013
acquirer's executives to fill “cookie jars” ready to inflate earnings in the years after merger. After takeover, modern … contracts relating pay to accounting profit.Ahead of takeover, prospective acquirers can flatter their earnings record in order … to secure the support of investors for stock-for-stock deals. During takeover, accounting devices are available to the …
Persistent link: https://www.econbiz.de/10013071332
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Multiproduct mergers and the product mix in domestic and foreign markets
Chan, Jackie M. L.; Irlacher, Michael; Koch, Michael - 2022
post-merger efficiency improvements to reveal a new margin of adjustment along the product dimension. We analyze horizontal … between differentiated varieties. After a merger, acquirers drop products from their consolidated domestic product portfolio … and reallocate assets towards core varieties. We further demonstrate that such merger-induced efficiency gains imply …
Persistent link: https://www.econbiz.de/10013194397
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Multiproduct mergers and the product mix in domestic and foreign markets
Chan, Jackie M.L.; Irlacher, Michael; Koch, Michael - 2022
post-merger efficiency improvements to reveal a new margin of adjustment along the product dimension. We analyze horizontal … between differentiated varieties. After a merger, acquirers drop products from their consolidated domestic product portfolio … and reallocate assets towards core varieties. We further demonstrate that such merger-induced efficiency gains imply …
Persistent link: https://www.econbiz.de/10013186438