Mergers without equity markets: a study of the acquisitions process among financial mutuals
Article Abstract:
UK financial mutuals have undergone mergers and provide material for studying comparative agency problems. Stakeholders such as shareholders have benefits from pay-offs where joint stock companies have been involved in acquisitions. Merger proposals for mutuals give de facto acknowledgement to depositor rights. Motivations of acquirers have influenced compensation levels. Voting rights are important in mutuals as they are within joint stock firms.
Publication Name: Journal of Institutional & Theoretical Economics
Subject: Economics
ISSN: 0932-4569
Year: 1996
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The effect on firm output after its acquisition by a pure conglomerate
Article Abstract:
The performance of firms designated as 'pure conglomerates has been considered in light of increased business activities by such firms during 1985 to 1992. Reasons for opting for conglomeration have not been fully understood. However, 'Agency View' contends that firm managers resort to diversity in order to improve their firm's total risk without accordingly giving stockholders any benefits.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 1998
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Do hostile mergers destroy jobs?
Article Abstract:
Research into the employment effects of hostile takeovers in the UK in the period 1983 to 1996 is presented. It is concluded that hostile and friendly acquisitions are each similarly linked with an apparent initial fall in labour demand. Hostile deals are connected with immediate significant falls in output and employment.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 2001
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