The paper deals with margins of entrepreneurship where small business owners are almost working on their own having no or just a few employees and where one can find also people working with low returns and having firms without stability or prosperous dynamics. However, even the area of...

Seit der amerikanische Einzelhandelsgigant Wal-Mart durch die Übernahme der Wertkauf-Filialen, Interspar- und Asdamärkte auf dem europäischen Markt Fuß gefasst hat, herrscht Unruhe innerhalb der Branche. Fast alle großen Handelsketten Europas wurden bereits als Akquisitionsobjekte mit...

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....