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Einfluss von Wechselkursen auf die Grenzpreisermittlung bei Auslandsakquisitionen

Kesten, Ralf; Lühn, Michael; Schmidt, Steffen - 2012

In der Literatur finden sich zahlreiche Abhandlungen zu der Frage, welche Besonderheiten bei internationalen, also grenzüberschreitenden Unternehmensakquisitionen auftreten und in welcher Weise diese im Zuge einer Grenzpreisermittlung zu berücksichtigen sind. Als im Wesentlichen zu würdigende...

Persistent link: https://www.econbiz.de/10010310906

How the East Was Won: The Foreign Take-Over of the Eastern European Brewing Industry

Swinnen, Johan F. M.; Van Herck, Kristine - 2010

Persistent link: https://www.econbiz.de/10010313306

Weddings with uncertain prospects: Mergers under asymmetric information

Borek, Thomas; Buehler, Stefan; Schmutzler, Armin - 2004

We provide a framework for analyzing bilateral mergers when there is two-sided asymmetric information about firms' types. We show that there is always a no-merger equilibrium where firms do not consent to a merger, irrespective of their type. There may also be a cut-off equilibrium if the...

Persistent link: https://www.econbiz.de/10010315502

Mergers under asymmetric information - is there a lemons problem?

Borek, Thomas; Bühler, Stefan; Schmutzler, Armin - 2004

We analyze a Bayesian merger game under two-sided asymmetric information about firm types. We show that the standard prediction of the lemons market model-if any, only low-type firms are traded-is likely to be misleading: Merger returns, i.e. the difference between pre- and post-merger profits,...

Persistent link: https://www.econbiz.de/10010315535

Are there waves in merger activity after all?

Gärtner, Dennis; Halbheer, Daniel - 2006

This paper investigates the merger wave hypothesis for the US and the UK employing a Markov regime switching model. Using quarterly data covering the last thirty years, for the US, we identify the beginning of a merger wave in the mid 1990s but not the much-discussed 1980s merger wave. We argue...

Persistent link: https://www.econbiz.de/10010315576

Merge or fail? The determinants of mergers and bankruptcies in Switzerland, 1995-2000

Buehler, Stefan; Kaiser, Christian; Jaeger, Franz - 2005

This paper examines the determinants of mergers and bankruptcies, using firm level data from the Swiss Business Census and the Dun & Bradstreet exit database for Switzerland (1995-2000). Employing duration analysis, we find considerable differences in the determinants of mergers and...

Persistent link: https://www.econbiz.de/10010315602

Executive compensation and the susceptibility of firms to hostile takeovers. An empirical investigation of the U.S. oil industry

Nowak, Eric; Haid, Michael H. - 1999

takeover imposed by the market for corporate control. We complement other empirical studies on managerial compensation and … consists of 51 firms in the U.S. oil industry from 1977 to 1994. Third, we employ ex ante measures of the threat of takeover at … the individual firm level which are superior to ex post measures like actual takeover occurrence or past incidence of …

Persistent link: https://www.econbiz.de/10010316286

Mergers and rivals' mark-ups: Evidence from European paper manufacturers

Marinov, Rosen - 2007

consolidation, as captured by the Herfindahl-Hirschman and four-firm indexes. However, takeover-related market share amalgamation …

Persistent link: https://www.econbiz.de/10010316731

Konzept für eine M&A-Erfolgskontrolle

Kesten, Ralf - 2013

[Problemstellung] Die Praxis von M&A-Transaktionen belegt, dass die in der vorvertraglichen Transaktionsphase identifizierten M&A-Mehrwerte aus Sicht der Investoren, zu interpretieren als Kapitalwerte (Net Present Values), überwiegend nicht (ganz) realisiert werden können. Im Rahmen einer...

Persistent link: https://www.econbiz.de/10010317259

Experience of the employment relationship after a merger

Linde, Bennie; Schalk, René - In: Management Revue 17 (2006) 4, pp. 484-498

Mergers and acquisitions create many management challenges. The development of a new employment relationship is one of the problems in such a situation. This paper investigates the influence of previous employment structures and the experience of previous employment relationships on the...

Persistent link: https://www.econbiz.de/10010318101