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The concept of this thesis emerged from my own experience of mergers and acquisitions in which I had been involved over the past 20 years. Companies make acquisitions, mergers, or joint ventures for technology or geographical reasons, or to consolidate a market. The companies have to find a way...
Persistent link: https://www.econbiz.de/10009432364
Innovation has become the dominant economic idea of our time and has resulted in a proliferation of innovation-oriented rhetoric, and policies. There is a great need to understand and harness innovation, but it has proven to be as difficult to measure as it is to define. At present, the quest to...
Persistent link: https://www.econbiz.de/10009432365
Small and medium sized enterprises (SMEs) have proven their dynamism in West Africa. They are perceived by policy makers as an important reservoir for growth. The African Development Bank considers they represent over 90 % of business and provide about 50% of GDP and employment in Africa....
Persistent link: https://www.econbiz.de/10009432366
Japanese major alcoholic beverage companies, whose businesses are mainly the production and sale of beer products, stand at a strategic crossroads. There are several reasons: a slow decrease in the Japanese population, which leads to a smaller drinking population; diversification of customers'...
Persistent link: https://www.econbiz.de/10009432367
Sikorsky Aircraft Co. currently finds itself in a critical growth period, in terms of both sales contracts and supplier agreements. Popular supply chain strategies preach reduction and simplification of the supply base, but Sikorsky encounters "must-grow" situations with their supply base, due...
Persistent link: https://www.econbiz.de/10009432371
PIPEs (Private Investments in Public Equity) are unique in that they are negotiated privately between sophisticated investors and the public firm. As a result, the issue price deviates from the firm's stock price, often resulting in a substantial PIPE discount. However, only a limited set of...
Persistent link: https://www.econbiz.de/10009432389
This thesis consists of three chapters exploring predictability of stock returns. In the first chapter, I suggest a new approach to analysis of stock return predictability. Instead of relying on predictive regressions, I employ a state space framework. Acknowledging that expected returns and...
Persistent link: https://www.econbiz.de/10009432390
In the first chapter, I provide evidence that investment-specific technological change is a source of systematic risk. In contrast to neutral productivity shocks, the economy needs to invest to realize the benefits of innovations in investment technology. A positive shock to investment...
Persistent link: https://www.econbiz.de/10009432391
This paper examines the properties of accounting numbers using a real investment framework that predicts asymmetric timeliness of both investment and its outcomes (i.e. sales, earnings and operating cash flows) even in the absence of conservative accounting. In particular, I predict and find...
Persistent link: https://www.econbiz.de/10009432392
This dissertation is centrally concerned with the management of a firm's global non-market environment. The non-market environment of a given firm is conceived as the set of relationships, confrontational or collaborative, that it establishes with actors other than its clients, suppliers and...
Persistent link: https://www.econbiz.de/10009432393