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Autor:innen: 
Erscheinungsjahr: 
1989
Schriftenreihe/Nr.: 
IUI Working Paper No. 242
Verlag: 
The Research Institute of Industrial Economics (IUI), Stockholm
Zusammenfassung: 
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.
Schlagwörter: 
Tax incentives
merger motives
manager independence
JEL: 
G34
M54
Dokumentart: 
Working Paper

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