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

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 bankruptcies, in particular with respect to firm size, location and the impact of macroeconomic conditions. Our results support the notion that mergers are often undertaken to seize growth opportunities.

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Year of publication:	2005
Authors:	Buehler, Stefan ; Kaiser, Christian ; Jaeger, Franz
Publisher:	Zurich : University of Zurich, Socioeconomic Institute
Subject:	Fusion \| Übernahme \| Insolvenz \| Unternehmenserfolg \| Erfolgsfaktor \| Schätzung \| Schweiz \| Statistische Bestandsanalyse \| merger \| bankruptcy \| failure \| survival \| exit

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Series:	Working Paper ; 0506
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	484750453 [GVK] hdl:10419/76244 [Handle]
Classification:	C41 - Duration Analysis ; L10 - Market Structure, Firm Strategy, and Market Performance. General ; L20 - Firm Objectives, Organization, and Behavior. General
Source:	EconStor

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