1.

Record Nr.

UNINA9910451267203321

Titolo

Mergers and productivity [[electronic resource] /] / edited by Steven N. Kaplan

Pubbl/distr/stampa

Chicago, : University of Chicago Press, 2000

ISBN

1-281-22370-0

9786611223700

0-226-42433-2

Descrizione fisica

1 online resource (350 p.)

Collana

A National Bureau of Economic Research conference report

Altri autori (Persone)

KaplanSteven N

Disciplina

338.8/3/0973

Soggetti

Consolidation and merger of corporations - United States

Corporate governance - United States

Electronic books.

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Description based upon print version of record.

Nota di bibliografia

Includes bibliographical references and indexes.

Nota di contenuto

Front matter -- National Bureau of Economic Research -- Contents -- Acknowledgments -- Introduction -- 1. Consolidation in the Medical Care Marketplace A Case Study from Massachusetts -- 2. The Eclipse of the U.S. Tire Industry -- 3. Is the Bank Merger Wave of the 1990's Efficient? Lessons from Nine Case Studies -- 4. A Clinical Exploration of Value Creation and Destruction in Acquisitions Organizational Design, Incentives, and Internal Capital Markets -- 5. Workforce Integration and the Dissipation of Value in Mergers: The Case of USAir's Acquisition of Piedmont Aviation -- 6. Paths to Creating Value in Pharmaceutical Mergers -- Contributors -- Name Index -- Subject Index

Sommario/riassunto

Mergers and Productivity offers probing analyses of high-profile mergers in a variety of industries. Focusing on specific acquisitions, it illustrates the remarkable range of contingencies involved in any merger attempt. The authors clearly establish each merger's presumed objectives and the potential costs and benefits of the acquisition, and place it within the context of the broader industry. Striking conclusions that emerge from these case studies are that merger and acquisition activities were associated with technological or regulatory shocks, and that a merger's success or failure was dependent upon the acquirer's



thorough understanding of the target, its corporate culture, and its workforce and wage structures prior to acquisition. Sifting through a wealth of carefully gathered evidence, these papers capture the richness, the complexity, and the economic intangibles inherent in contemporary merger activity in a way that large-scale studies of mergers cannot.