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In Germany and Europe, the takeover of robot manufacturer KUKA AG by the Chinese Midea Group Co., Ltd. in 2017 raised … semiconductor technology, where several Chinese takeover attempts of US firms have been prevented in the recent years. In view of …
Persistent link: https://www.econbiz.de/10012251215
Venture capital (VC) and growth are examined both empirically and theoretically. Empirically, VC-backed startups have higher early growth rates and initial patent quality than non-VC-backed ones. VC backing increases a startup's likelihood of reaching the right tails of the firm size and...
Persistent link: https://www.econbiz.de/10012389572
Der Titel dieser Studie lautet: "Investmentstrategien im Rahmen von Übernahmen börsennotierter Gesellschaften - Merger Arbitrage und Maschinelles Lernen". Der Fokus wird somit auf einen anderen Bereich des umfangreichen Themengebietes Mergers & Acquisitions (M&A) gelegt, als bei einem...
Persistent link: https://www.econbiz.de/10012819799
Using rich administrative data from the Netherlands, we study the consequences of firm consolidation for workers. For workers at acquired firms, takeovers are associated with a 8.5% drop in employment at the consolidated firm and a 2.6% drop in total labor income. These effects are persistent...
Persistent link: https://www.econbiz.de/10014480422
Persistent link: https://www.econbiz.de/10014486044
The adoption of takeover protections, from the empirical side, has been focused to find supporting evidence to the … decisions for additional takeover defenses are taken. Alternatively, external control gives more negotiation power, allowing for … higher takeover prices, which is expected to increase shareholders' wealth. These two hypotheses have been widely tested in …
Persistent link: https://www.econbiz.de/10010377524
Anlaß dieses Beitrags bildet der im Januar 1989 präsentierte Kommissionsvorschlag zu einer Richtlinie bezüglich der Übernahme von Unternehmen in den Mitgliedstaaten. Zunächst werden theoretische Überlegungen zur Gestaltung von institutionellen Rahmenbedingungen diskutiert, die die...
Persistent link: https://www.econbiz.de/10010398006
Cash-rich bidders in UK have better announcement abnormal returns than cash-poor ones during 1984-2007, contrasting previous findings in the US. The positive cash reserve effect is mainly from bidders of high long-run growth or those with non-trivial institutional holdings. Moreover, cash-rich...
Persistent link: https://www.econbiz.de/10010409434
A cash-rich company is less likely to be a bidder during 1994-2008 in the US, contrasting the findings based on earlier sample period. This is mainly due to the companies with high residual market-to-book ratios (i.e. the residual of the actual market-to-book ratio regressed on measures of...
Persistent link: https://www.econbiz.de/10010409445
In the field of mergers and acquisitions, German and international tax law allow for several opportunities to step up a firm's assets, i.e., to revaluate the assets at fair market values. When a step-up is performed the taxpayer recognizes a taxable gain, but also obtains tax benefits in the...
Persistent link: https://www.econbiz.de/10010421367