The Industry Life Cycle, Acquisitions And Investment: Does Firm Organization Matter?

Topics:
Organization
Tags:
Acquisition,
Mergers & Acquisitions,
Management,
Investment,
Industry,
Financial,
Finance,
Corporate Law,
Business Operations,
Strategy
Source:
University of Oxford

FREE Registration is required

Overview: We examine the effect of financial dependence on acquisition and investment within existing industries by single-segment and conglomerate firms for industries undergoing different long-run changes in industry conditions. Conglomerates and single-segment firms differ more in rates of within-industry acquisitions than in capital expenditure rates, which are similar across organizational type. In particular, 36 percent of within-industry growth by conglomerate firms in growth industries is from intra-industry acquisitions, compared to nine percent for single-segment firms. Financial dependence, a deficit in a segment's internal financing, decreases the likelihood of within-industry acquisitions and opening new plants, especially for single-segment firms. These effects are mitigated for conglomerates in growth industries. The findings persist after controlling for firm size and segment productivity.

(Is this item miscategorized? Does it need more tags? Let us know.)

Format: PDF | Size: 621KB | Date: May 2006 | Pages: 41

People who downloaded this item also downloaded

White Paper Empowerment in the Context of Transformational Change: A Study of Acquisitions and Privatizations in Eastern Europe
White Paper Pricing Your Products and Service
White Paper The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?
White Paper 21st Century Leadership: Redefining Management Education: Educating Managers in the Modern Era

Top results from Organization

White Paper Organizational Goal Alignment in Ten Easy Steps
Tools & Templates Use this action item log to keep project team meetings on task
Tools & Templates Clarify project roles with this simple responsibility matrix
Download Crash Course: Microsoft Word
Presentation Microsoft Office Professional Plus 2007 Demo

» View all Organization listings

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement

Returning users: Log In Here!

Already registered on BNET, TechRepublic, or ZDNet? Simply log in.

Free Membership: Sign Up Now!

Sign up for a free membership today and get instant and unlimited access to one of the largest databases of white papers, webcasts, and casestudies anywhere. Your FREE membership allows you to:

  • Download an unlimited amount of content, including classic and current white papers, case studies, webcasts and more
  • Track content on your chosen topics of interest
  • Receive targeted email alerts when your favorite content is added
  • Save content for future reading
  • Receive our member newsletter

When you register to access this directory, you become a member of BNET. In addition, you allow us to share your information with companies that produce products or services featured in the library--so that such companies may contact you with information and offers regarding their products and services. This enables us to keep the library a free service. As a directory registrant, you will receive a complimentary subscription to the BNET member newsletter, The BNET Report. You can unsubscribe from this newsletter at any time. By clicking the Sign up button, you indicate that you agree to our Terms and Conditions and have read and understand our Privacy Policy (updated).