BIP! Finder - The long-term impact of mergers and the emergence of a merger wave in pre-World-War I Germany

2006 • The long-term impact of mergers and the emergence of a merger wave in pre-World-War I Germany

Authors: Kling, Gerhard

Venue: Explorations in Economic History

Type: Publication

Abstract: Abstract 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 previous mergers made subsequent mergers more likely. The propensity to merge was higher for larger companies that increased their market power. In the banking industry, managers imitated mergers, although these mergers were not successful, and ... (read more)

Impact:

2.6259657E-9 3.457054E-9 16 4

/ Attention: 0 16

Topics: Market economy

DOI: 10.1016/j.eeh.2005.07.001

External links: Crossref OpenAIRE

BibTex PDF

Topic-specific impact indicators

Popularity:
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
Influence:
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
Citation Count:
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
Impulse:
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.