Similar Search Results

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

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

Einbettung von Merger und Akquisition in wirtschaftstheoretische Erklärungsansätze

Mittendorf, Thomas; Plöger, Andre - 2003

Die Verbindung von Unternehmen ist keine Erscheinung der letzten Jahre. Vielmehr beruht das Konzept der Merger & Akquisition (M&A) auf grundlegenden wirtschaftstheoretischen Theorien, die in der Diskussion allerdings oftmals von populistischen Motiven für die Fusion im vorliegenden Fall...

Persistent link: https://www.econbiz.de/10010317619

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

Do bankers sacrifice value to build empires? Managerial incentives, industry consolidation, and financial performance

Hughes, Joseph P.; Lang, William W.; Mester, Loretta J.; … - 2001

performance, and smaller asset size. However, when managers are faced with better growth opportunities, they generally appear to … increase in acquired assets is associated with worse performance at banks with entrenched managers. In contrast, a larger … obtained by entrenched managers, who may be able to resist market discipline to build empires. …

Persistent link: https://www.econbiz.de/10010318372