By combining two large data sets (on international trade flows and on mergers and acquisitions - M&As), we are able to test two implications of Neary´s (2003, 2004a) recent theoretical work. Analyzing M&As in a General Oligopolistic Equilibrium (GOLE) model incorporating strategic interaction...

Several top deals already closed, a still highly fragmented industry and strong pressure for furtherconsolidation following the financial crisis – renewable energy certainly has become a red-hot topic inM&A. Surveying 220 companies in the solar photovoltaic, utility and financial sector as...

Large companies are usually organized into business units, yet some activitiesare almost always centralized in a company-wide functional unit. We firstshow that organizations endogenously create an incentive conflict between functionalmanagers (who desire excessive standardization) and...

Der vorliegende Artikel beschäftigt sich mit der Rolle der Informationstechnologie bei Firmenzusammenschlüssen. Gerade im Zug der Neuorndung von Unternehmen gewinnt diese immer mehr an Bedeutung.

Technological change is often hypothesized as one of the main drivers of mergeractivities. This paper analyzes the role of technology in mergers and acquisitions(M&As) at the firm level. Based on a newly created data set that combines financialinformation and patent data for public limited...

Carve out projects have recently become an emerging issue in practice and theory given the diversityof strategic foci of companies as well as recent merger and acquisition activities of firms. This paperhighlights the relevance of IT in such carve out projects. IT depicts their characteristics...

The welfare dominance of ad valorem taxes over unit taxes in a single-market Cournot oligopoly is well-known. This article extends the analysis to multi-market oligopoly. Provided all ad valorem taxes are positive, unit costs are constant, firms are active in all considered markets, and a...

This paper addresses the key determinants of merger failure, in particularthe role of innovation (post-merger performance) and technology (ex-anteselection) when firms decide to separate. After a brief review of the existingliterature we introduce a model of process innovation where merged...