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The role of toeholds and capital gains taxes for corporate acquisition strategies

Liberini, Federica; Russo, Antonio; Stimmelmayr, Michael - 2016

cash and stock used to finance the takeover (the method of payment). Within this framework, we analyze the effect of the …

Persistent link: https://www.econbiz.de/10011554398

Merger in contests

Huck, Steffen; Konrad, Kai A.; Müller, Wieland - 2000

Competition in some markets is a contest. This paper studies the merger incentives in such markets. Merger can be … profitable. The profitability depends on the post-merger contest st ructure, the discriminatory power of the contest and on the …

Persistent link: https://www.econbiz.de/10009781515

Buying to sell : private equity buyouts and industrial restructuring

Norbäck, Pehr-Johan; Persson, Lars; Tåg, Joacim - 2013

We show how temporary ownership by private equity firms affects industry structure, competition and welfare. Temporary ownership leads to strong investment incentives because equilibrium resale prices are determined by buyers incentives to block rivals from obtaining assets. These incentives...

Persistent link: https://www.econbiz.de/10009772935

Driven by the discount factor : impact of mergers on market performance in the semiconductor industry

Harris, Jeremiah; Siebert, Ralph - 2015

This study investigates the impact of firm-specific discount factors on merger formation and market performance. We … explain merger formation and the impact on product market performance. More specifically, we find that acquiring firms …

Persistent link: https://www.econbiz.de/10010479370

Cross-border mergers & acquisitions : the facts as a guide for international economics

Brakman, Steven (contributor); Garretsen, Harry (contributor) - 2006

Persistent link: https://www.econbiz.de/10003379813

Corporate acquisitions and firm-level uncertainty : domestic versus cross-border deals

Bai, Ye; Girma, Sourafel; Riaño, Alejandro - 2020

-level uncertainty is characterized by a pecking order: the announcement of a domestic takeover leads to a reduction in the uncertainty …

Persistent link: https://www.econbiz.de/10012158166

Reassessing the effects of corporate income taxes on mergers and acquisitions using empirical advances in the gravity literature

Bradley, Sebastien; Carril-Caccia, Federico; Yotov, Yoto - 2023

We study the relationship between corporate income taxes and mergers and acquisitions (M&As). To this end, we compile and deploy a dataset consisting of all cross-border and domestic M&A deals for 118 source (acquirer) and 122 destination (target) countries and 84 sectors over the period...

Persistent link: https://www.econbiz.de/10014447773