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Organizational prospects, influence costs, and ownership changes
Meyer, Margaret A. - In: Journal of economics & management strategy : JEMS 1 (1992) 1, pp. 9-35
Persistent link: https://www.econbiz.de/10001128409
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Why hang on to losers? : Divestitures and takeovers
Boot, Arnoud W. A. - In: The journal of finance : the journal of the American … 47 (1992) 4, pp. 1401-1423
Persistent link: https://www.econbiz.de/10001133690
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Empirical corporate finance ; Vol. 4
Brennan, Michael J. (contributor) - 2001
Persistent link: https://www.econbiz.de/10001567801
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An Empirical Analysis of the Counterfactual : A Merger and Divestiture in the Australian Cigarette Industry
Pham, Vivienne - 2010
In this paper we empirically analyse two counterfactual situations facing an anti-trust authority following the merger of two of the largest international cigarette companies. First we estimate a nested logit model of demand for cigarettes. The implied elasticity of demand for smoking and...
Persistent link: https://www.econbiz.de/10013136009
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Acquisition Profitability and Timely Loss Recognition
Francis, Jere R. - 2010
We investigate if timely loss recognition is associated with acquisition-investment decisions. Using a Basu (1997) piece-wise linear regression model, we find that firms with more timely incorporation of economic losses into earnings make more profitable acquisitions, measured by the bidder's...
Persistent link: https://www.econbiz.de/10013136659
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Takeover-Divestiture Combinations and Shareholder Wealth
Marquette, Christopher J. - 2013
the target firm. To explore these issues, we analyse the effect of the takeover and divestiture on the value of the firm … announcement of the takeover and a positive wealth effect for the spinoff. However, the combined wealth effect of the takeover and … characteristics of the firm targeted in the takeover reveals a positive relation between total wealth effect and research and …
Persistent link: https://www.econbiz.de/10013093700
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R&D Intensity and Acquisition and Divestiture of Corporate Assets : Evidence from Japan
Ushijima, Tatsuo - 2014
This article provides evidence from Japanese acquisitions and divestitures after the late 1990s on the effect of corporate R&D to stimulate inter-firm asset trade. Consistent with the notion that R&D increases a firm's opportunities for and ability to profit from synergy with external assets,...
Persistent link: https://www.econbiz.de/10013068294
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Ex-Post Merger Review and Divestitures
Friberg, Richard - 2013
Divestitures have received little attention in ex-post evaluations of mergers. In partial remedy we simulate the effects of the Carlsberg-Pripps merger in the Swedish beer market and compare the predicted outcomes with those observed ex-post. There are no important price increases following the...
Persistent link: https://www.econbiz.de/10013073058
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Acquisition Profitability and Timely Loss Recognition
Francis, Jere R. - 2009
We investigate if timely loss recognition is associated with acquisition-investment decisions. Using a Basu (1997) piece-wise linear regression model, we find that firms with more timely incorporation of economic losses into earnings make more profitable acquisitions, measured by the bidder's...
Persistent link: https://www.econbiz.de/10013157014
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A Multi-Product Framework Generating Waves of Mergers and Divestitures
Gaisford, James D. - 2009
Recent waves of corporate mergers followed by divestitures have sparked new interest in economic analyses of these issues. We take the merger paradox from the standard oligopoly literature as a starting point and show that in the absence of any cost-synergies of merger activities, firms do have...
Persistent link: https://www.econbiz.de/10013159769