Narrow search
Showing 1 - 10 of 6,180
Cover Image
Consolidation waves
Berg, Ward A. van den; Smit, Han T. J. - 2007
This paper explains why consolidation acquisitions occur in waves and it predicts the differing role each firm is … initial acquisition triggers a wave of follow-on acquisitions, where the process of asset accumulation by the consolidator is … accelerated since the value of follow-on acquisitions is enhanced by the more concentrated industry structure. An initial …
Persistent link: https://www.econbiz.de/10011372521
Cover Image
Horizontal mergers and exit in declining industries
Filson, Darren; Songsamphant, Bunchon - 2001
Previous work on exit in declining industries has neglected mergers. We examine a simple model that predicts which declining industries experience horizontal mergers. Mergers are more likely if 1) market concentration is high; 2) the inverse demand curve is steep at high levels of output and...
Persistent link: https://www.econbiz.de/10011569023
Cover Image
Anti-Takeover Provisions and Investment Timing
Guthrie, Graeme - 2019
We show how directors can set the strength of a firm's anti-takeover provisions in order to influence the investment-timing decision of a future empire-building CEO. The prospect of future hostile takeover attempts, which terminate the CEO's control benefits if successful, affects the CEO's...
Persistent link: https://www.econbiz.de/10012892376
Cover Image
The Role of Real Options in the Takeover Premia in Mergers and Acquisitions
Barbopoulos, Leonidas G.; Cheng, Louis T. W.; Cheng, Yi; … - 2021
This paper applies a real option framework to suggest that the takeover premia in mergers and acquisitions can be …
Persistent link: https://www.econbiz.de/10013240073
Cover Image
Valuing reciprocal synergies in merger and acquisition deals using the real option analysis
Čirjevskis, Andrejs - In: Administrative Sciences : open access journal 10 (2020) 2/27, pp. 1-25
This research explores how global cosmetic players sense emerging market demand for new technologies and products, seize opportunities through the acquisition of core competencies that they needed, and transform their global value chain. The aim of this paper to assess the prerequisites of...
Persistent link: https://www.econbiz.de/10012271128
Cover Image
Valuing synergies in strategic mergers and acquisitions using the real options approach
Loukianova, Anna; Nikulin, Egor; Vedernikov, Andrey - In: Investment management and financial innovations 14 (2017) 1, pp. 236-247
Persistent link: https://www.econbiz.de/10011816775
Cover Image
Demand uncertainty, product differentiation, and entry timing under spatial competition
Ebina, Takeshi; Matsushima, Noriaki; Nishide, Katsumasa - 2017
We investigate the entry timing and location decisions under market-size uncertainty with Brownian motions in a continuous-time spatial competition duopoly model a la d'Aspremont et al. (1979). Under a sequential equilibrium, the threshold of the follower non-monotonically increases in...
Persistent link: https://www.econbiz.de/10011671810
Cover Image
Demand uncertainty, product differentiation, and entry timing under spatial competition
Ebina, Takeshi; Matsushima, Noriaki; Nishide, Katsumasa - In: European journal of operational research : EJOR 303 (2022) 1, pp. 286-297
Persistent link: https://www.econbiz.de/10013363904
Cover Image
Spatial Competition in the Network Television Industry
Goettler, Ronald L.; Shachar, Ron - 2001
We present an empirical study of spatial competition and a methodology to estimate demand for products with unobservable characteristics. Using panel data, we estimate a discrete choice model with latent product attributes and unobserved heterogenous consumer preferences. Our application of the...
Persistent link: https://www.econbiz.de/10014128545
Cover Image
Investments under Vertical Relations and Agency Conflicts : A Real Options Approach
Zormpas, Dimitrios - 2018
We examine the case of a firm holding the option to make an uncertain and irreversible investment. The firm is decentralized and there is information asymmetry between the owner and the investment manager regarding the price of an input (e.g. a key equipment) that needs to be purchased by an...
Persistent link: https://www.econbiz.de/10012932000