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Unternehmensvereinigungen Und Shareholder Value

Unternehmensvereinigungen Und Shareholder Value


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About the Book

Unternehmensvereinigungen (Mergers & Acquisitions) sind ein empirisch und sozial bedeutendes Phänomen. In der letzten Dekade war weltweit ein enormer Anstieg der Transaktionszahlen und -volumina zu verzeichnen. Doch wie steht es um den Erfolg dieser Strategie externen Wachstums aus Shareholder Value-Sicht? Zur Beantwortung dieser Frage trägt die Arbeit mit einer empirischen Untersuchung bei. Ausgehend von den theoretischen Erklärungsansätzen für Unternehmensvereinigungen werden zwei konträre Erfolgshypothesen abgeleitet: Wertsteigerungshypothese versus Moral-Hazard-Hypothese. Die empirische Prüfung dieser beiden Hypothesen erfolgt mittels einer Ereignisstudie. Die Stichprobe basiert auf Daten des deutschen Kapitalmarkts; sie enthält 227 Ereignisse für übernehmende und 33 Ereignisse für übertragende Gesellschaften im Zeitraum 1993 bis 1998. Die Ergebnisse der Studie stützen tendenziell die Wertsteigerungshypothese.
About the Author: Der Autor: Ludger G. Picken, geboren 1969 in Wattenscheid. Von 1990 bis 1995 Studium der Wirtschaftswissenschaften an der Universität Gießen, Abschluß als Diplom-Kaufmann. 1996 Tätigkeit in der Bauwirtschaft, 1997 Rückkehr an die Universität. Wissenschaftlicher Mitarbeiter am Lehrstuhl für Internationale Unternehmungen und Unternehmenszusammenschlüsse, am Lehrstuhl für Internationales Management und Kommunikation, seit 2000 am Lehrstuhl für Betriebswirtschaftliche Steuerlehre sowie Revisions- und Treuhandwesen, 2003 Promotion zum Dr. rer. pol.


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Product Details
  • ISBN-13: 9783631509678
  • Publisher: Peter Lang Gmbh, Internationaler Verlag Der W
  • Binding: Paperback
  • Height: 210 mm
  • No of Pages: 280
  • Series Title: Europaeische Hochschulschriften / European University Studie
  • Weight: 750 gr
  • ISBN-10: 3631509677
  • Publisher Date: 20 May 2003
  • Edition: New edition
  • Language: German
  • Returnable: N
  • Spine Width: 0 mm
  • Width: 148 mm


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