Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/24451
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dc.contributor.authorKöke, Jensen_US
dc.date.accessioned2009-02-16T14:56:18Z-
dc.date.available2009-02-16T14:56:18Z-
dc.date.issued2001en_US
dc.identifier.urihttp://hdl.handle.net/10419/24451-
dc.description.abstractThis study provides new stylized facts on the determinants of corporate failure and acquisition in Germany. It also offers important lessons for the design of empirical studies. We show that firms experiencing failure or acquisition are significantly different from surviving firms on a number of firm-specific characteristics, however the characteristics are similar for failing and acquired firms. This implies that firm failure and acquisition should be analyzed in combination. Second, we find that the industry distribution is significantly different for failure and acquisitions. This calls for some kind of industry-adjustment in empirical analyses. Third, the differences between surviving and failing (acquired) firms are similar, irrespective whether the respective firm characteristic is observed one or up to four or more years before failure (acquisition). This validates the findings of studies that use lags of only one year for explanatory variables.en_US
dc.language.isoengen_US
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheim-
dc.relation.ispartofseries|aZEW Discussion Papers |x01-30en_US
dc.subject.jelG34en_US
dc.subject.jelG33en_US
dc.subject.jelG32en_US
dc.subject.ddc330en_US
dc.subject.keywordCorporate governanceen_US
dc.subject.keywordownership structureen_US
dc.subject.keywordbankruptcyen_US
dc.subject.keywordacquisitionsen_US
dc.subject.stwKonkursen_US
dc.subject.stwÜbernahmeen_US
dc.subject.stwBetriebsvergleichen_US
dc.subject.stwCorporate Governanceen_US
dc.subject.stwEigentümerstrukturen_US
dc.subject.stwBrancheen_US
dc.subject.stwKapitalstrukturen_US
dc.subject.stwReorganisationen_US
dc.subject.stwDeutschlanden_US
dc.titleDeterminants of acquisition and failure: stylized facts and lessons for empirical studiesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn856129844en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zewdip:5385-

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