To date, a few empirical studies exist that investigate the use of earnout contracts in mergers and acquisitions (M&As). However, two limitations can be attested. First, the studies predominantly investigate earnouts in Anglo-American economies and it is questionable whether we can generalize on...

Die technologische Leistungsfähigkeit einer Volkswirtschaft hat einen bedeutenden Einfluss auf den Handel. Darüber hinaus spielt auch die Innovationsleistung des Auslandes eine wichtige Rolle. Der internationale Handel und Auslandsdirektinvestitionen (FDI) ermöglichen die Übertragung von...

The inherent technical capability of a domestic economy has a significant effect upon trade. In addition, the innovation achievement potential of foreign countries and their companies may also enhance a given situation. International trade and foreign direct investment (FDI) provide knowledge...

Gerade in Zeiten der globalen Finanzkrise eignen sich Earn-out-Vereinbarungen in besonderem Maße, um den gesteigerten Informationsasymmetrien im Rahmen einer Unternehmensübernahme begegnen zu können. Doch wie stark profitieren die Käufer vom Einsatz eines solchen Instrumentes und was...

Credit risk is one of the most important forms of risk faced by national and international banks as financial intermediaries. Managing this kind of risk through selecting and monitoring corporate and sovereign borrowers and through creating a diversified loan portfolio has always been one of the...

Using a dynamic real options approach we show that managerial flexibility is strengthening the first-mover advantage in bargaining M&As by undermining the bargaining power of the second mover.

The purpose of this study is to formalize the choice of market entry strategy for an individual multinational enterprise (MNE) from a dynamic perspective. It is argued that incorporating a suitable treatment of irreversibility, uncertainty and flexibility related to a MNEs investment decision...

The application of theorectical option pricing evaluation procedures for the analysis of real investment decisions indicates a new trend in the classical theory of investment and finance. In this regard, the formative term of the real option approach subsumes three basic attributes of investment...

The purpose of this study is to formalize the optimal choice of market entry strategy for an individual multinational enterprise (MNE) from a dynamic perspective. It is argued that incorporating a suitable treatment of irreversibility, uncertainty and flexibility related to a MNEs investment...