Showing 1 - 10 of 198
Persistent link: https://www.econbiz.de/10001677417
Persistent link: https://www.econbiz.de/10002030411
When a takeover is announced, the sum of the stock-market values of the firms involved often falls, and the value of the acquirer almost always does. Does this mean that takeovers do not raise the values of the firms involved? Not necessarily. We set up a model in which the equilibrium number of...
Persistent link: https://www.econbiz.de/10012469704
Persistent link: https://www.econbiz.de/10001239893
Persistent link: https://www.econbiz.de/10001334723
Persistent link: https://www.econbiz.de/10001080446
Persistent link: https://www.econbiz.de/10001224794
We present a model in which capital assets can only be owned by members of a relatively small politically connected elite ('the oligarchs'), each member of which faces a given risk of being expropriated, and we investigate the implications of such an imperfection of property rights for the...
Persistent link: https://www.econbiz.de/10014052502
We explore how changes in ownership affect the productivity and profitability of producers. Using detailed data from the Japanese cotton spinning industry at the turn of the last century, we find that acquired firms' production facilities were not on average less physically productive than the...
Persistent link: https://www.econbiz.de/10013033105
We explore how changes in ownership and managerial control affect the productivity and profitability of producers. Using detailed operational, financial, and ownership data from the Japanese cotton spinning industry at the turn of the last century, we find a more nuanced picture than the...
Persistent link: https://www.econbiz.de/10013058693