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Corporate Control And Economic Efficiency The Affect Of Mergers And Acquisitions On Cash Flow
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Book Synopsis Corporate Control and Economic Efficiency--the Affect of Mergers and Acquisitions on Cash Flow by : Guy Michael Barudin
Download or read book Corporate Control and Economic Efficiency--the Affect of Mergers and Acquisitions on Cash Flow written by Guy Michael Barudin and published by . This book was released on 1987 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Mergers, Sell-Offs, and Economic Efficiency by : David J. Ravenscraft
Download or read book Mergers, Sell-Offs, and Economic Efficiency written by David J. Ravenscraft and published by Brookings Institution Press. This book was released on 2011-10-01 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers the consolidation and merger of corporations and corporate divestiture in the United States.
Book Synopsis Mergers and Efficiency by : Susanne Trimbath
Download or read book Mergers and Efficiency written by Susanne Trimbath and published by Springer Science & Business Media. This book was released on 2002-07-31 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mergers And Efficiency: Changes Across Time focuses on one aspect of the corporate finance revolution that restructured Corporate America and led to the longest expansion in U.S. history - changes in rates of merger efficiency. Demystifying this most controversial and dynamic period of U.S. economic history is key to understanding the business, financial and economic innovations that defined the last two decades of the 20th century. In addition, it is important to create a careful empirical understanding of the conditions under which merger activity increased or decreased firm efficiency, industrial productivity, and overall improvements in aggregate output and economic performance.
Book Synopsis Mergers and Acquisitions by : Alan J. Auerbach
Download or read book Mergers and Acquisitions written by Alan J. Auerbach and published by University of Chicago Press. This book was released on 2008-04-15 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do mergers lead to financial instability? How are shareholders' interests best served? How significant a role do taxes play? What are the implications for the structure and concentration of industry? Mergers and Acquisitions, prepared in an nontechnical format, answers these and other questions that have arisen from the takeover boom that began in the mid-1980s. "A significant piece of scholarship."—Peter Fuhrman, Forbes "Accessible to interested laypersons and policy makers. . . . [A] thoroughly readable and informative book."—Gregg A. Jarrell, Journal of Economic Literature
Book Synopsis Mergers and Economic Efficiency: Proceedings of a workshop and supplementary papers by :
Download or read book Mergers and Economic Efficiency: Proceedings of a workshop and supplementary papers written by and published by . This book was released on 1980 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Mergers and Acquisitions: Inplications for policy by : Simon Peck
Download or read book Mergers and Acquisitions: Inplications for policy written by Simon Peck and published by Taylor & Francis. This book was released on 2002 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: This set includes articles from the four main fields which have influenced the study of Mergers and Acquisitions: Economics, Finance, Strategic Management and Human Resource Management. Featuring the key papers by individuals who shaped the field, the collection presents these formative pieces in thematically grouped sections, including coverage of: * Perspectives on the modern business corporation and the role of mergers and acquisitions: historical, financial, strategic and management * Causes of mergers and acquisitions activity * Performance impact of mergers and acquisitions activity * Public policy and the corporation The set features a comprehensive index and original introductory material.
Book Synopsis Mergers and Acquisitions: Performance consequences by : Simon Peck
Download or read book Mergers and Acquisitions: Performance consequences written by Simon Peck and published by Taylor & Francis. This book was released on 2002 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: This set includes articles from the four main fields which have influenced the study of Mergers and Acquisitions: Economics, Finance, Strategic Management and Human Resource Management. Featuring the key papers by individuals who shaped the field, the collection presents these formative pieces in thematically grouped sections, including coverage of: * Perspectives on the modern business corporation and the role of mergers and acquisitions: historical, financial, strategic and management * Causes of mergers and acquisitions activity * Performance impact of mergers and acquisitions activity * Public policy and the corporation The set features a comprehensive index and original introductory material.
Book Synopsis Public Policy Toward Corporate Takeovers by : Murray L. Weidenbaum
Download or read book Public Policy Toward Corporate Takeovers written by Murray L. Weidenbaum and published by Transaction Publishers. This book was released on with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines critical issues in the debate over the effects' of the current wave of corporate takeovers. Media accounts are often sensational, but proposed public policy remedies need to be evaluated on the basis of more than simple rhetoric. The studies contained in this collection provide solid economic grounding for the debate. Public Policy Toward Corporate Takeovers is the result of extensive research sponsored by the Center for the Study of American Business and directed by Murray Weidenbaum; it examines key aspects of takeovers: the evolving regulatory role of the Antitrust Division, state versus federal authority over offensive and defensive takeover maneuvers, whether leveraged buyouts improve the firm's economic performance, and the validity of assertions about "entrenched" managements. The book also includes the views of the most publicized corporate raider, T. Boone Pickens. Balancing Pickens' highly favorable view of the value of hostile takeovers as a disciplining factor for subpar management performance is a chapter by David Ravenscraft of the Federal Trade Commission, who takes a long-term viewpoint and argues that the popular belief that takeovers create substantial efficiencies has not been borne out by the record. The overall findings do not fully support either side of the takeover controversy. The book presents both legal and economic perspectives, and suggests strategies for government policymakers as well as leaders of private enterprise.
Book Synopsis The Economics of Corporate Governance and Mergers by : K. Gugler
Download or read book The Economics of Corporate Governance and Mergers written by K. Gugler and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an insightful view of major issues in the economics of corporate governance (CG) and mergers. It presents a systematic update on the developments in the two fields during the last decade, as well as highlighting the neglected topics in CG research, such as the role of boards, CG and public interest and the relation of CG to mergers. Two important conclusions can be drawn from this book: the first is that corporate governance systems that better align shareholders and managers interests lead to better corporate performance; second, there is an important relationship between CG structures and the quality of firm decision-making, one of the most important being the decision to merge or take over another firm. Focusing on some of the often-neglected aspects of corporate governance such as non-profit organizations and public interest, as well as mergers and acquisitions from a CG perspective, this book will be a valuable resource for both academics and postgraduate students of finance, business and economics.
Book Synopsis Mergers, Takeovers, and Economic Efficiency by : Richard E. Caves
Download or read book Mergers, Takeovers, and Economic Efficiency written by Richard E. Caves and published by . This book was released on 1988 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Mergers and Acquisitions in General by : United States. Congress. Senate. Committee on the Judiciary
Download or read book Corporate Mergers and Acquisitions in General written by United States. Congress. Senate. Committee on the Judiciary and published by . This book was released on 1986 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of Merger and Acquisition Activities on Corporate Performance Measured on an Accounting and Market Base by : Malwina Woznik
Download or read book The Impact of Merger and Acquisition Activities on Corporate Performance Measured on an Accounting and Market Base written by Malwina Woznik and published by GRIN Verlag. This book was released on 2013-08-07 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2013 in the subject Business economics - Controlling, grade: 1,3, University of Cologne (Seminar für allgemeine BWL und Controlling), language: English, abstract: “Warren Buffett swallows Heinz: Sauce for the sage” – a typical takeover announcement was published lately on 14th February 2013. Warren Buffett, a well known inves tor, acquired along with the financial investor 3G Capital the H. J. Heinz Company for $ 28 billion. This is likely to become the largest transaction in the food industry. The company's stock price rose more than 20.0 percent after the publication which is a very characteristic reaction to deal announcements. Hence, the important question is, if transactions, such as the takeover of the H. J. Heinz Company, affect the corporate performance consistently. In general, the core idea about mergers and acquisitions (M&A) is to generate additional future growth if for example organic growth is limited. If two companies merge or a target is bought by another company (the acquirer), shareholders believe in synergy effects. These are revenue enhancements, cost reductions, tax gains and reduced capital requirements leading to business growth and thus to a higher value of the new company. However, it is questionable if this theory can also be experienced in the real world. Ever since the effects of M&A have been analysed, the market of the United States (US) was used as data source. This is plausible due to the fact that the very first information was well recorded for US companies. It is remarkable that literature contributes very little research on Europe, although the number of announced European transactions is comparable to those of the US. For example, in 2007 the European deals volume overtook the one from the United States of America (USA) for the first time. Moreover, research on single European countries almost never exists or only rarely. One exception is the United Kingdom (UK) with an early takeover history beginning in the 1960s. However, European countries should be analysed separately because of its high diversity regarding the accounting framework, the corporate governance or the legal and regulation structure. For instance, Germany is characterised by conservative accounting principles and a high regulation by the banking sector. These issues may also influence the M&A decision making process.
Book Synopsis Mergers, Accountants and Economic Efficiency by : Geoff Meeks
Download or read book Mergers, Accountants and Economic Efficiency written by Geoff Meeks and published by . This book was released on 2013 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores some consequences for economic efficiency of creative accounting practices by merging companies. It assumes semi-strong information efficiency in the markets for capital and for corporate control; and/or the use of executive contracts relating pay to accounting profit.Ahead of takeover, prospective acquirers can flatter their earnings record in order to secure the support of investors for stock-for-stock deals. During takeover, accounting devices are available to the acquirer's executives to fill “cookie jars” ready to inflate earnings in the years after merger. After takeover, modern accounting provides opportunities for newly appointed managers to take a “big bath”, at the expense of their predecessors' record, enhancing their own apparent performance.The consequences for economic efficiency can include: allocating control of a business to an inferior management team; cheating stockholders by distorting market prices; undermining markets as “dishonest dealings drive honest dealings out of the market” (Akerlof); creating incentives to undertake mergers which will not boost underlying profitability; and inhibiting the monitoring and control of agents by principals.The paper helps to explain the finding that the typical merger does not enhance operating performance, as shown for example in Ravenscraft and Scherer's classic study.
Book Synopsis Does Corporate Performance Improve After Mergers? (Classic Reprint) by : Paul M. Healy
Download or read book Does Corporate Performance Improve After Mergers? (Classic Reprint) written by Paul M. Healy and published by . This book was released on 2015-08-05 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Does Corporate Performance Improve After Mergers? We thank Robin Cooper, George Foster, Michael Jensen, Bob Kaplan, Richard Leftwich, Mark Wolfson, Karen Wruck, and seminar participants at Baruch College, Carnegie Mellon, Columbia, Dartmouth, Duke, Federal Reserve Bank Washington D.C.), Harvard, Michigan, MIT, NYU, Rochester, Stanford, USC, and U.S. Department of Justice for helpful comments on earlier drafts, Chris Fox and Ken Hao for research assistance, and the International Financial Services Center at MIT and the Division of Research at HBS for financial support. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Book Synopsis Mergers and Acquisitions Handbook for Small and Midsize Companies by : Thomas L. West
Download or read book Mergers and Acquisitions Handbook for Small and Midsize Companies written by Thomas L. West and published by John Wiley & Sons. This book was released on 1997-04-11 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book - the only mergers and acquisitions guide that focuses on small and midsize companies - experts from every profession and specialty related to the sale or acquisition of a business lead buyers and sellers step by step through each phase of the M & A process. Their aim is to help both parties avoid hazards and mistakes and arrive at a fair and mutually profitable arrangement. With 36 self-contained chapters that can be read in sequence or consulted independently, Mergers and Acquisitions for Small and Midsize Companies is both a comprehensive M & A tutorial for newcomers to the process and an indispensable reference for professionals involved in any aspect of the buying and selling of small and midsize companies.
Book Synopsis Corporate Mergers and Acquisitions by : Abraham Tarasofsky
Download or read book Corporate Mergers and Acquisitions written by Abraham Tarasofsky and published by . This book was released on 1991 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much of the debate over the issues concerning corporate takeover revolves around the issue of whether bigness is the essential concomitant of efficiency and competitiveness. This document examines takeover trends in North America and the discusses the paradox of acquisition. It presents the evidence on profitability, new Canadian research on the subject, and a research agenda.
Book Synopsis Conglomerate Mergers by : George J. Benston
Download or read book Conglomerate Mergers written by George J. Benston and published by A E I Press. This book was released on 1980 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph on cost benefit analysis of USA mergers - explains recent trends in terms of capital resources valuation, tax incentives, etc., Examines motivations for and consequences of mergers in relation to small scale industries and shareholders, analyses costs and benefits for consumers, workers and communitys, and comments on problems of official merger prevention company law. Bibliography pp. 74 to 76 and statistical tables.
