Mergers and Acquisitions - The standing of theory in the quest for better institutions and policy

Camilla Jensen

Publikation: Working paperForskning

Abstrakt

The paper shows that the standing of theory in the field of mergers and acquisitions is weak for at least three reasons. Research is best described as a battlefield of ad hoc theory testing leaving behind a fragmented field. Research has focused traditionally on high intensity markets under the Anglo-Saxon variant of capitalism. Empirical evaluation is prone to be inexact and suffers among other from significant aggregation problems between the micro (firm performance) and macro level (economic growth). The deficiencies in the standing of theory will be reflected in weak institutions to handle the political processes concerning value, liquidity, efficiency and fairness aspects that affect the market for corporate assets within and across different variants of capitalism.
OriginalsprogEngelsk
UdgiverSSRN
Sider1-36
Antal sider36
DOI
StatusUdgivet - 1. apr. 2010
Udgivet eksterntJa
NavnCASE Network Studies and Analysis
Nummer401

Emneord

  • Economic growth
  • Institutions
  • Mergers and acquisitions
  • The resource-based view
  • Variants of capitalism

Citationsformater