Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/94794
Authors: 
Modén, Karl-Markus
Year of Publication: 
1989
Series/Report no.: 
IUI Working Paper 242
Abstract: 
This paper studies the relative importance of tax incentives as merger motives in the Swedish industry during the period 1983-1987. Several econometric models are estimated and statistical tests performed. The tax-hypothesis is contrasted with an alternative hypothesis, suggested by Jensen, which explains mergers as a way for independent managers to increase their personal power. Neither hypothesis get any strong support in this study, the evidence is somewhat stronger in favor of Jensen's theory however.
Subjects: 
Tax incentives
merger motives
manager independence
JEL: 
G34
M54
Document Type: 
Working Paper

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