Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Mergers And Acquisitions In The Electricity And Gas Industry
Download Mergers And Acquisitions In The Electricity And Gas Industry full books in PDF, epub, and Kindle. Read online Mergers And Acquisitions In The Electricity And Gas Industry ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Mergers and Acquisitions in the Electricity and Gas Industry by : Marie-Line Restellini
Download or read book Mergers and Acquisitions in the Electricity and Gas Industry written by Marie-Line Restellini and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Mergers and acquisitions (M&As) continue to be a prevalent strategic measure of growth for companies, even if their success rate is known to be generally low. From a research perspective, they are a controversial topic of study and scholars continue to conclude that they remain poorly understood. Based on the opinion of Graebner and his colleagues (2016) that M&As are the perfect embodiment of the VUCA paradigm, this paper aims to shed light on the ambiguity of structural interventions and on the complexity of variables influencing deals' outcome. Also, this research intends to focus on the electricity and gas industry in a post-deregulation context in the US and in Europe. By doing so, this thesis proposes to take into account the industry background and integration context of deals following a strategy of complementarity. This working paper aims to enrich the management literature by proposing a framework grasping the importance of postmerger factors. This framework conceptualizes the effects of postmerger variables on MAs' performance. It examines the effects of integration dimensions as well as the effect of organizational stability on deals's success, two points not yet fully understood by the existing literature. On the basis of the theoretical framework, five hypotheses are developed (H1, H2, H3a, H3b and H3c). Drawing on theories addressing processes, acquisition integrations, complexity and complex adaptive systems, H1 argues that resource sharing, transfer of functional skills and organizational autonomy have a positive influence on M&A performance. H2 assert that organizational stability has a negative influence on M&A performance. H3a claim that resource sharing is negatively correlated to organizational stability. H3b proposes that transfer of skill is negatively correlated to organizational stability but lower than resource sharing. Finally, H3c argues that organizational autonomy is not correlated to organizationa.
Book Synopsis Regulating Mergers and Acquisitions of U.S. Electric Utilities: Industry Concentration and Corporate Complication by : Scott Hempling
Download or read book Regulating Mergers and Acquisitions of U.S. Electric Utilities: Industry Concentration and Corporate Complication written by Scott Hempling and published by Edward Elgar Publishing. This book was released on 2020-10-30 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: What happens when electric utility monopolies pursue their acquisition interests—undisciplined by competition, and insufficiently disciplined by the regulators responsible for replicating competition? Since the mid-1980s, mergers and acquisitions of U.S. electric utilities have halved the number of local, independent utilities. Mostly debt-financed, these transactions have converted retiree-suitable investments into subsidiaries of geographically scattered conglomerates. Written by one of the U.S.’s leading regulatory thinkers, this book combines legal, accounting, economic and financial analysis of the 30-year march of U.S. electricity mergers with insights from the dynamic field of behavioral economics.
Book Synopsis The Changing Structure of the Electric Power Industry 1999 by :
Download or read book The Changing Structure of the Electric Power Industry 1999 written by and published by . This book was released on 1999 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Dynamics of Industrial Consolidation by : Marc Petz
Download or read book Dynamics of Industrial Consolidation written by Marc Petz and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis explores the dynamics of industrial consolidation in the EU27 electricity and gas industry. The research aim is to characterise the consolidation dynamics, its underlying key drivers and implications related to the EU27 electricity and gas industry's consolidation. This research follows a systematic evaluation and comparative analysis of the concentration and internationalisation dynamics since the United Kingdom's privatisation start in the year 1986. This thesis contributes to the discussions about concentration, cooperation and internationalisation strategies in special consideration of competition and competitive advantage in both sectors. This thesis offers a retro perspective, independent, neutral and objective research under special consideration of the interdisciplinary from the perspectives of (energy) economists, institutions, and .management on this transformation • process. The research findings base on the empiric-quantitative analysis of 5,309 realised and closed Mergers & Acquisitions and Joint Venture transactions with a total deal volume of EUR1,184bn covering the period between 01/01/1986 and 31/12/2008 targeting the EU27 electricity and gas industry. In addition, the data set contains all worldwide transactions realised by the companies based in the EU27 member states. Research conveyed a semi-structured survey about the consolidation key determinants issued to the industry's Chief Executive Officers in spring 2010. The survey asked for the economic crisis impact on the industry, and asked for assessment of the prospective consolidation development ~ after the crisis. The research findings demonstrate that economic and regulatory pressures are the main forces influencing the concentration process. Thereby, the incumbent companies mainly drove the consolidation process in Europe. The main reasons for the EU27 electricity and gas industry's internationalisation are an eased market access, advanced by privatisations and market liberalisation, growth orientation, as well as cartel restrictions due to high concentration. The corporate key strategies remain to achieve economies of scale and synergies, meanwhile, focussing on core competencies and the strategic fit. The companies had to struggle during the economic crisis due to decreasing demand, but developed unexpected opportunities from divestures and/or by regulatory restrictions.
Book Synopsis Power Deals by : PricewaterhouseCoopers
Download or read book Power Deals written by PricewaterhouseCoopers and published by . This book was released on 2004 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Mergers in the Petroleum Industry by : United States. Federal Trade Commission
Download or read book Mergers in the Petroleum Industry written by United States. Federal Trade Commission and published by . This book was released on 1982 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Mergers in Regulated Industries by : Dennis W. Carlton
Download or read book Mergers in Regulated Industries written by Dennis W. Carlton and published by . This book was released on 2007 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Electric Utility Mergers and Regulatory Policy by :
Download or read book Electric Utility Mergers and Regulatory Policy written by and published by . This book was released on 1992 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Profiles of Industrial Consolidation by : Marc Petz
Download or read book Profiles of Industrial Consolidation written by Marc Petz and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Industrial consolidation is a global trend that evolved during the last three decades. Market liberalisation and privatisation represent initial key transformation processes for this phenomenon in the energy sector. The energy sector moved over to common interest during the last years: The number and volume of international large-scale mergers increased, and new multinational super utility champions gained momentum (Graeme 2002). For example, the bid for the Spanish Endesa in 2006 included the second largest cash offer with an amount of nearly US$ 66 billion by Eon in history of Mergers and Acquisitions (M&A). In addition, those transformation processes allowed new growth opportunities, e.g. in new or emerging markets. While competitors in liberalised energy markets seek to strengthen their market position, their underlying strategies reveal distinct differences and potentially differing degrees of performance. Therefore, the M&A transactions in the energy sector show specific characteristics in corporate strategy regarding size, integration level and geographical scope. According to the industrial logic, the big players in the merger endgame focused on their core competences. The champions followed the theories of growth to realise economies of scale, scope and density (Panzar and Willig 1981; Chandler 1990). This empiric study analyzes the M&A activities in Latin America's energy market with focus on Argentina, Brazil and Chile. The specific characteristics and motives for utilities' M&A activities in these three countries serve as a good model how diverse industrial consolidation took place after the liberalisation and privatisation in Latin America during the 90's. Furthermore, the study provides an analysis about the corporate strategies. The study is structured as follows: After the abstract, the second section gives a brief overview and background information about the objectives and differences in the implementation of the transformation processes in Argentina, Brazil and Chile before privatisation. The third section explains the research methodology of the empiric study. The fourth section illustrates the research findings and results on industrial consolidation in the Latin American markets. The fifth section addresses the conclusions. The final section gives an outlook for further development in those countries.
Book Synopsis U.S. Utility Mergers and the Restructuring of the New Global Power Industry by : Edward B. Flowers
Download or read book U.S. Utility Mergers and the Restructuring of the New Global Power Industry written by Edward B. Flowers and published by Praeger. This book was released on 1998-05-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consume thy rival may be the new law of corporate survival in the U.S. utilities industry. This book describes close to $70 billion of global utility mergers stemming from the anticipated deregulation of the U.S. gas and electrical utilities industries. Occurring from 1995 to 1997, these mergers are completely restructuring U.S. power utilities. Thirty-seven billion dollars of these mergers, a full 53 percent, occurred abroad. About two-thirds of the foreign mergers were U.S. takeovers, while the remaining one-third was mergers, defensive and otherwise, of U.K. firms with other U.K. firms. This may be the first time U.S. industrial restructuring has generated more investment abroad rather than in domestic markets. Exploring the diversity of strategies and changes driving these mergers, the author concludes that although complex, the mergers can be explained by strategies traditionally used in domestic M&As. These very large U.S. utilities now consider themselves to be operating in a global industry of private, deregulated utilities, and they are determined to survive through mergers that help them cut costs, spread expenses, and increase profits.
Book Synopsis Mergers and Acquisitions as a Response to the Deregulation of the Electric Power Industry by : John R. Becker-Blease
Download or read book Mergers and Acquisitions as a Response to the Deregulation of the Electric Power Industry written by John R. Becker-Blease and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: As a response to the deregulation of the electric power industry, many electric utilities adopted a strategy of acquiring other electric or gas utilities. We examine whether these merger and acquisition strategies create value for the utility shareholders and whether the strategies result in superior post-merger operating and stock-price performance relative to utilities that did not grow through acquisitions. We find little evidence that the mergers and acquisitions created long-term value for a fully diversified investor. Furthermore, the stock price and operating performance of the acquirers under performed the stock price and operating performance of a control portfolio of utilities that did not engage in merger activity. This under performance was even worse for those utilities that diversified along product/power or geographic lines. We conclude that if efficiencies and synergies were created as a result of deregulation, utilities did not have to grow through merger to capture them. Our findings also suggest that utility regulation did not preclude economically efficient mergers that increased shareholder wealth from taking place prior to deregulation.
Book Synopsis Changing Structure of the Electric Power Industry 1999 by : Brent Becker
Download or read book Changing Structure of the Electric Power Industry 1999 written by Brent Becker and published by . This book was released on 1999-04-01 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapters: organizational components of the electric power industry; mergers and acquisitions of investor-owned electric utilities; convergence mergers; joint ventures and strategic alliances in the electric power industry; divestiture of generation assets by investor-owned electric utilities; summary and conclusions; the Public Utility Holding Co. Act of 1935; three case studies of electric utility divestiture of power generation assets; 1994 merger of Cincinnati Gas and Electric Co., and PSI Resources, Inc. into CINergy Corp.; 1993 merger of Gulf States Utilities Co. into Entergy Corp.; and definitions of Corporate Combinations. Dozens of charts and tables.
Book Synopsis Competition Policy and Merger Analysis in Deregulated and Newly Competitive Industries by : Peter C. Carstensen
Download or read book Competition Policy and Merger Analysis in Deregulated and Newly Competitive Industries written by Peter C. Carstensen and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: The thorough analyses presented in the book provide the reader with a good overview of the deregulation process in the respective industries. . . Competition Policy and Merger Analysis in Deregulated and Newly Competitive Industries is a valuable resource for researchers of law, economics, and political science. . . Volker Soyez, European Competition Law Review This comprehensive book contains case studies on the evolution of competition policy, with an emphasis on merger policy, for seven major US industries that have experienced substantial deregulation in the past forty years electricity, natural gas, telecommunications, railroads, airlines, hospitals and banking. Also included is a comparison of the EU s experience in attempting to bring about competition in the energy, finance, and airline industries. The contributors to the volume, each a recognized expert on the industry examined, explore the positive and negative implications of the substitution of market-oriented processes for historic patterns of command and control regulation. The chapters reveal clear similarities in the economic, legal and public policy issues that have arisen following deregulation of these economic sectors. Together they provide a good basis to discern the consistency of the problems and the relative success of differing responses to these issues over a range of industries going through similar transformation. While taking a basically positive view of the movement away from direct regulation, the contributors identify a number of continuing problems with achieving workable competition in these industries. The thorough analyses presented here will be of great value to law, economics, and political science researchers interested in deregulation, economic consultants advising government agencies or private parties, attorneys who focus on deregulated industries, policy planners at the agencies overseeing these industries, and students in advanced seminars on economic regulation.
Book Synopsis Electric Utility Mergers by : Mark W. Frankena
Download or read book Electric Utility Mergers written by Mark W. Frankena and published by Praeger. This book was released on 1994-07-30 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Competition in the generation, transmission, and distribution of electricity is of increasing interest to policy makers as well as to buyers and sellers of power. The use of competition as a social policy tool to benefit consumers carries the necessity of preserving competition when it is threatened by mergers or other structural changes. The work explains central principles of antitrust economics and applies them to mergers in the electric power industry. This work focuses on mergers, but the economic principles explained here will be useful in analyzing many important issues flowing from growth of competition in electric power. For example, proper definition of markets and analysis of market power will be useful in decisions on whether to continue regulation.
Book Synopsis The Changing Structure of the Electric Power Industry 2000: An Update by :
Download or read book The Changing Structure of the Electric Power Industry 2000: An Update written by and published by DIANE Publishing. This book was released on with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Value Creation in Mergers, Acquisitions, and Alliances by : Kathrin Bösecke
Download or read book Value Creation in Mergers, Acquisitions, and Alliances written by Kathrin Bösecke and published by Springer Science & Business Media. This book was released on 2009-09-30 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kathrin Bösecke analyses the factors that determine the success of business combinations. Based on her analysis of 126 acquisitions and 66 alliances in the European utility industry, she identifies the origin of the participating firms as well as the target country as essential determinants of value creation.
Author :United States. Congress. Senate. Committee on Interior and Insular Affairs. Special Subcommittee on Integrated Oil Operations Publisher : ISBN 13 : Total Pages :40 pages Book Rating :4.3/5 (91 download)
Book Synopsis The Burmah-Signal Merger by : United States. Congress. Senate. Committee on Interior and Insular Affairs. Special Subcommittee on Integrated Oil Operations
Download or read book The Burmah-Signal Merger written by United States. Congress. Senate. Committee on Interior and Insular Affairs. Special Subcommittee on Integrated Oil Operations and published by . This book was released on 1974 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
