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dc.contributor.authorKöke, Jensen
dc.date.accessioned2009-02-16T14:56:18Z-
dc.date.available2009-02-16T14:56:18Z-
dc.date.issued2001-
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
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x01-30en
dc.subject.jelG34en
dc.subject.jelG33en
dc.subject.jelG32en
dc.subject.ddc330en
dc.subject.keywordCorporate governanceen
dc.subject.keywordownership structureen
dc.subject.keywordbankruptcyen
dc.subject.keywordacquisitionsen
dc.subject.stwKonkursen
dc.subject.stwÜbernahmeen
dc.subject.stwBetriebsvergleichen
dc.subject.stwCorporate Governanceen
dc.subject.stwEigentümerstrukturen
dc.subject.stwBrancheen
dc.subject.stwKapitalstrukturen
dc.subject.stwReorganisationen
dc.subject.stwDeutschlanden
dc.titleDeterminants of acquisition and failure: stylized facts and lessons for empirical studies-
dc.typeWorking Paperen
dc.identifier.ppn856129844en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:5385en

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