Economic Determinants and Effects of Mergers in France PDF Download

Author: F. Jenny
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Author: F. Jenny
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Author: Frederic Jenny
Publisher:
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Category :
Languages : de
Pages : 51

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Author: Dennis C. Mueller
Publisher: Cambridge, Mass. : Oelgeschlager, Gunn & Hain ; Königstein/Ts. : Verlag A. Hain
ISBN:
Category : Business & Economics
Languages : en
Pages : 402

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Author: Georges A. J. Cavalier
Publisher:
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Category :
Languages : en
Pages : 0

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From the economic point of view, common law is more efficient than civil law. Is this recent statement published in an economic report valid for mergers and acquisitions (M&A)? The main objective of this paper is to compare the legal performance of M&A in France and in the United States. The purpose is to quantify the impact of both legal systems on the long-term performance of M&A transactions. To carry out this research, a specific methodology was developed and the results of which are evaluated. Two legal structures for M&A transactions were envisaged: the purchase of shares (share deal), and the purchase of assets (asset deal). Each of these acquisition structures was then subdivided into eleven steps composing the process, for example from preliminary information, letter of intent, due diligence, stock or asset purchase agreement, closing, to litigation with formal summons. Performance was then measured by taking into account time, cost, and satisfaction factors. The time factor was broken down into person-days and the number of days, weeks, or months required to complete each step. French and U.S. respondents were asked to fill out a questionnaire with reference to a specific acquisition project. A typical question was for instance: What is your estimate of working days to complete this step (person-days)? Radar charts were used to compare the mean of each performance factor. In order to check for correlations among the performance factors, an inter-factors analysis (regression) was carried out. The research findings are presented in this paper. Results show that a share deal in France is generally cheaper and participants indicate a significantly greater amount of satisfaction than in the U.S. However, for the time factor, the results vary. The conclusion is that the application of Civil Law rules rather than their Common Law counterparts does not reveal substantial differences as far as M&A transactions are concerned. One reason is that in both France and the U.S. these transactions are carried out following standard procedures in compliance with common contractual practices.

Author: Daniel Gore
Publisher: Cambridge University Press
ISBN: 1107007720
Category : Business & Economics
Languages : en
Pages : 559

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Provides a clear, concise and practical overview of the key economic techniques and evidence employed in European merger control.

Author: United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust, Monopoly, and Business Rights
Publisher:
ISBN:
Category :
Languages : en
Pages : 824

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Author: United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust, Monopoly, and Business Rights
Publisher:
ISBN:
Category : Antitrust law
Languages : en
Pages : 820

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Author: Manfred Neumann
Publisher: Edward Elgar Publishing
ISBN: 1849806063
Category : Law
Languages : en
Pages : 431

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ÔThis comprehensive Handbook demonstrates that academic thinking, new and old, has a role to play in shaping modern competition policy.Õ Ð Gunnar Niels, Oxera This indispensable Handbook examines the interface of competition policy, competition law and industrial economics. The book aims to further our understanding of how economic reasoning and legal expertise complement each other in defining the fundamental issues and principles in competition policy. In specially commissioned chapters the book provides a scholarly review of economic theory, empirical evidence and standards of legal evaluation with respect to monopolization of markets, exploitation of market power and mergers, among other issues. The International Handbook of Competition Ð Second Edition will be accessible to a wide audience including students of economics and law, public administrators, lawyers, consultants, and business executives.

Author: John Fletcher
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 640

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