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Management Motive, Shareholder Returns, and the Choice of Payment: Evidence from the UK

Raj, Mahendra; Forsyth, Michael - In: American Journal of Business 19 (2004) 1, pp. 23-30

motivation towards the initiation of a takeover. This study intends to analyze four major merger motivations separately and … examine the impact each has on bidder re-turns. We Þnd the market reacts according to the nature of the takeover and the …

Persistent link: https://www.econbiz.de/10010610941

The system : a story of intrigue and market domination

Waghorn, Terry - 2002

Persistent link: https://www.econbiz.de/10004720011

English Auctions with toeholds: An experimental study

Georganas, Sotiris; Nagel, Rosemarie - Department of Economics and Business, Universitat … - 2008

We run experiments on English Auctions where the bidders already own a part (toehold) of the good for sale. The theory predicts a very strong effect of even small toeholds, however we find the effects are not so strong in the lab. We explain this by analyzing the flatness of the payoff...

Persistent link: https://www.econbiz.de/10005704898

Mecanismos internos de superversi¢n, costes de agencia, eficiencia empresarial y tomas de control en Espa¤a

Fortuna-Lindo, Jose Maria; Azofra Palenzuela, Valent¡n - Programa Interuniversitario de Doctorado en Nuevas … - 2001

El presente trabajo analiza la influencia de los mecanismos internos de control, los costes de agencia, la eficiencia empresarial, la posibilidad de sinergias fiscales y la posici¢n de liquidez como determinantes de los procesos de oferta p£blica de adquisici¢n (OPA) de sociedades cotizadas...

Persistent link: https://www.econbiz.de/10005771728

Dynamics in ownership and firm survival: evidence from corporate Germany

Heiss, Florian; Köke, Jens - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2001

This study investigates the determinants of changes in corporate ownership and firm failure, taking into account different types of sellers and buyers of control blocks. For a large panel of German corporations we find that firms are more likely to fail or to be sold when performance is poor,...

Persistent link: https://www.econbiz.de/10005097846

THE IMPACT OF TAKEOVERS, LEVERAGED BUY-OUTS AND VENTURE CAPITAL ON CORPORATE GOVERNANCE

Stanculescu, Andrei - In: Theoretical and Applied Economics 11(528)(supplement) (2008) 11(528)(supplement), pp. 364-369

In this paper you will find described the impact of takeovers, buy-outs and venture capital on corporate governance mechanisms. Corporate takeovers represent an important external governance mechanism, by means of which shareholders can replace underperforming or opportunistic managers. Also,...

Persistent link: https://www.econbiz.de/10005099751

Firm Performance after Ownership Change: A Matching Estimator Approach

Bellak, Christian; Pfaffermayr, Michael; Wild, Michael - In: Applied Economics Quarterly (formerly: Konjunkturpolitik) 52 (2006) 1, pp. 29-54

, we consider two hypotheses that an acquired underperforming firm (“lemon”) improves its performance post takeover versus … the “cherry picking” (overperformers) view. The latter suggests endogeneity of takeover decisions. Consequently we follow … export orientation) explain the takeover decision. Our results suggest that in general the effects are small, but post-takeover …

Persistent link: https://www.econbiz.de/10005168410

Takeover prices and portfolio theory

Gambarelli, Gianfranco; Pesce, Serena - In: Theory and Decision 56 (2004) 1, pp. 193-203

Persistent link: https://www.econbiz.de/10005678323

Is There Discretion in Wage Setting? A Test Using Takeover Legislation

Bertrand, Marianne; Mullainathan, Sendhil - Industrial Relations Section, Department of Economics - 1998

Persistent link: https://www.econbiz.de/10005548197

Is There Discretion in Wage Setting? A Test Using Takeover Legislation

Bertrand, Marianne; Mullainathan, Sendhil - Industrial Relations Section, Department of Economics - 1998

Persistent link: https://www.econbiz.de/10005738565