The long-term impact of mergers and the emergence of a merger wave in pre-World-War I Germany
Using annual data on mergers for 35 leading German companies from 1870 to 1913, my study tries to explain the first merger wave that emerged 1898. My panel probit model that accounted for economies of scale, macroeconomic conditions, success of former mergers, and market structure revealed that prev...
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| Format: | Article |
| Language: | English |
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2006-10.
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| Online Access: | Get fulltext |