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Causes and consequences of merger waves
Kleinert, Jörn; Klodt, Henning - 2002
This paper presents some ideas about determinants of merger waves and some evidence on their effect on profitability and employment. A brief survey of previous merger waves and an analysis of the recent one give support to the hypothesis that sectoral shocks are at the root of merger waves....
Persistent link: https://www.econbiz.de/10011490438
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Publicization versus Privatization : Recent Worldwide Evidence
Clò, Stefano - 2015
This paper analyzes deals involving private and State-owned enterprises (SOEs) worldwide since 2004. We consider four types of deals: privatizations, publicizations, private reorganizations (i.e private firms acquiring a private target) and public reorganizations. (i.e. both acquirers and...
Persistent link: https://www.econbiz.de/10013024991
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Mergers and Acquisitions Transactions Strategies in Diffusion - Type Financial Systems in Highly Volatile Global Capital Markets with Nonlinearities
Ledenyov, Dimitri - 2015
The M&A transactions represent a wide range of unique business optimization opportunities in the corporate transformation deals, which are usually characterized by the high level of total risk. The M&A transactions can be successfully implemented by taking to an account the size of investments,...
Persistent link: https://www.econbiz.de/10013028661
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Effects of territorial and worldwide corporation tax systems on outbound M&As
Feld, Lars P.; Ruf, Martin; Scheuering, Uwe; Schreiber, … - 2013
Repatriation taxes reduce the competitiveness of multinational firms from tax credit countries when bidding for targets in low tax countries. This comparative disadvantage with respect to bidders from exemption countries violates ownership neutrality, which results in production inefficiencies...
Persistent link: https://www.econbiz.de/10010199701
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Effects of territorial and worldwide corporation tax systems on outbound M&As
Feld, Lars P.; Ruf, Martin; Scheuering, Uwe; Schreiber, … - 2013
Repatriation taxes reduce the competitiveness of multinational firms from tax credit countries when bidding for targets in low tax countries. This comparative disadvantage with respect to bidders from exemption countries violates ownership neutrality, which results in production inefficiency due...
Persistent link: https://www.econbiz.de/10010204646
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International Taxation and M&A Prices
von Hagen, Dominik - 2017
We show that corporate taxation systems regarding foreign dividends and capital gains across 49 countries differ in many aspects, contradicting the requirements for capital ownership neutrality and indicating that ownership patterns are distorted. Consequently, a national tax policy maker may...
Persistent link: https://www.econbiz.de/10012953177
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International Taxation and M&A Prices
von Hagen, Dominik - 2018
We show that corporate taxation systems regarding foreign dividends and capital gains across 49 countries differ in many aspects, contradicting the requirements for capital ownership neutrality and indicating that ownership patterns are distorted. Consequently, a national tax policy maker may...
Persistent link: https://www.econbiz.de/10012932367
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How does the Market for Corporate Control Impact Tax Avoidance? Evidence from International M&A Laws
Hu, Jinshuai; Li, Siqi; Shevlin, Terry J. - 2021
corporate tax planning. Exploiting the staggered enactment of M&A laws across countries that increased the threat of takeover as … avoidance following the takeover law passage. Our analysis suggests that reduced management private benefits consumption (i … strategies, is the likely mechanism through which takeover laws impact tax avoidance. Collectively, our findings extend the …
Persistent link: https://www.econbiz.de/10013220207
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Tax Avoidance through Cross-Border Mergers and Acquisitions
Meier, Jean-Marie; Smith, Jake - 2021
While tax havens are known as custodians and intermediaries of assets, this is the first paper to document that havens affect the ownership of assets on a large scale. We investigate cross-border, tax-haven mergers and acquisitions (M&A) using hand-collected data on tax residence laws and a...
Persistent link: https://www.econbiz.de/10013234797
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Fiscal federalism and foreign direct investment : an empirical analysis
Feld, Lars P.; Köhler, Ekkehard A.; Palhuca, Leonardo; … - 2022
Previous empirical studies suggest that decentralization, measured by the number of government layers, is associated with less foreign direct investment (FDI). With an improved dataset on tax autonomy of sub-federal government tiers, we present evidence that fiscal decentralization (de facto)...
Persistent link: https://www.econbiz.de/10013186110