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Management takeover battles and the role of the golden handshake
Fabel, Oliver; Kolmar, Martin - 2002
The effect of severance pay on management behavior during a takeover battle is generally ambiguous. Yet, the severance payment completely restraining all influence activities always constitutes a golden handshake. The manager leaving office still benefits from the increase in the merged firm's...
Persistent link: https://www.econbiz.de/10010311219
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On 'Golden Parachutes' as Manager Discipline
Fabel, Oliver; Kolmar, Martin - Thurgauer Wirtschaftsinstitut an der Universität Konstanz - 2007
Persistent link: https://www.econbiz.de/10005051673
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Aggregate Oligopoly Games with Entry
Anderson, Simon P; Erkal, Nisvan; Piccinin, Daniel - C.E.P.R. Discussion Papers - 2013
We use cumulative reaction functions to compare long-run market structures in aggregative oligopoly games. We first compile an IO toolkit for aggregative games. We show strong neutrality properties across market structures. The aggregator stays the same, despite changes in the number of firms...
Persistent link: https://www.econbiz.de/10011083659
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A Practical Perspective on Human Capital Post Merger Integration in Central and Eastern Europe
MUNTEANU, Sebastian-Madalin; GROSU, Marian-Adrian - In: REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF … 12 (2011) 3, pp. 586-601
Driven by a philosophy of shareholder value, mergers and acquisitions form a new economic, social and cultural … environment. It is only by a profound understanding of the success factors in mergers and acquisitions that they are able to … countries from Central and Eastern Europe that have experienced mergers or acquisitions in the last 5 years, in which we exhibit …
Persistent link: https://www.econbiz.de/10009319121
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What do premiums paid for bank M&As reflect? The case of the European Union
Hagendorff, Jens; Hernando, Ignacio; Nieto, Maria J.; … - 2010
We analyze the takeover premiums paid for a sample of European bank mergers between 1997 and 2007. We find that …
Persistent link: https://www.econbiz.de/10010292291
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The safety and soundness effects of bank M&A in the EU
Hagendorff, Jens; Nieto, Maria J.; Wall, Larry D. - 2012
This paper studies the impact of European bank mergers and acquisitions on changes in key safety and soundness measures …
Persistent link: https://www.econbiz.de/10010292358
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M&A and R&D: Asymmetric effects on acquirers and targets?
Szücs, Florian - 2013
and targets and use appropriate difference-in-difference estimation methods to single out the causal effect of mergers on …
Persistent link: https://www.econbiz.de/10010323912
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The Political Economy of Dominant Investors
Perotti, Enrico C.; von Thadden, Ernst-Ludwig - 2004
We allow the preference of a political majority to determine boththe corporate governance structure and the division of profits betweenhuman and financial capital. In a democratic society where financialwealth is concentrated, a political majority may prefer to restraingovernance by dispersed...
Persistent link: https://www.econbiz.de/10010325240
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The impact of horizontal mergers on rivals: Gains to being left outside a merger
Clougherty, Joseph; Duso, Tomaso - 2008
that it is beneficial to be a non-merging rival firm to a large horizontal merger. Using a sample of mergers with expert …
Persistent link: https://www.econbiz.de/10010333740
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Revitalisation through restructuring? The effects of union mergers
Kirsch, Anja - In: Industrielle Beziehungen 22 (2015) 2, pp. 116-141
Trade union mergers are regarded as a revitalisation strategy and are often associated with the goal of increasing … organisational power. But little is known about how mergers really affect the unions involved. This paper argues that the effects of …
Persistent link: https://www.econbiz.de/10011998721