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Displaying results 1 to 7 of 7.

  1. Growth strategies and value creation
    what works best for stock-exhanges?
    Author: Hasan, Iftekhar; Schmiedel, Heiko; Song, Liang
    Published: 2010
    Publisher:  Bank of Finland, Helsinki

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    Location:
    Niedersächsische Staats- und Universitätsbibliothek Göttingen
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Keine Speicherung
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789524625715
    Other identifier:
    hdl: 10419/212159
    Series: Bank of Finland research discussion papers ; 2010,2
    Subjects: Börse; Übernahme; Strategische Allianz; Joint Venture; Börsenkurs; Welt
    Scope: Online-Ressource (48 :, 893,43 kB)
  2. Joint ventures as a commitment device against lobbies
    Author: Berardi, Nicoletta; Seabright, Paul
    Published: 2010
    Publisher:  Centre for Economic Policy Research, London

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    W 32 (7714)
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    Series: Array ; 7714
    Subjects: Investitionsentscheidung; Entscheidung unter Unsicherheit; Zeitverwendung; Unvollständiger Vertrag; Interessenpolitik; Joint Venture; Infrastrukturinvestition; Pharmaindustrie; Entwicklungsländer
    Scope: 37 S.
    Notes:

    Parallel als Online-Ausg. erschienen
  3. Growth strategies and value creation
    what works best for stock exchanges?
    Author: Hasan, Iftekhar; Schmiedel, Heiko; Song, Liang
    Published: 2010
    Publisher:  European Central Bank, Frankfurt am Main

    In recent years, demutualized stock exchanges have been increasingly engaging in M&A and alliance activities. To examine the effect of these growth strategies on exchange shareholders' value creation, we focus on 14 public stock exchanges and... more

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    Staats- und Universitätsbibliothek Bremen
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    Niedersächsische Staats- und Universitätsbibliothek Göttingen
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 534 (1201)
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    In recent years, demutualized stock exchanges have been increasingly engaging in M&A and alliance activities. To examine the effect of these growth strategies on exchange shareholders' value creation, we focus on 14 public stock exchanges and investigate their short-run share price responses to the formation of 110 M&As and alliances all over the world spanning the period 2000-2008. Our findings show that the average stock price responses for M&As and alliances are positive. M&As create more value than alliances. For alliances, joint ventures generate more value than non-equity alliances. More value accrues when the integration is horizontal (cross-border) than when it is vertical (domestic). Additionally, there is evidence of learning-by-doing effects in stock exchange integration activities. Finally, we find that the better the shareholder protection, accounting standards and capital market development in the partner exchange's country, the higher the merger and alliance premium for our sample exchange. These patterns are consistent when we examine the exchanges' long-run performance. - Exchanges ; mergers and acquisitions ; strategic alliances ; joint ventures ; network organization

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/153635
    Series: Working paper series / European Central Bank ; 1201
    Subjects: Börse; Übernahme; Strategische Allianz; Joint Venture; Börsenkurs; Welt
    Scope: Online-Ressource, (59 S., 1,06 MB)
  4. Strategische Positionierung und Allianzen von chinesischen Telekommunikationsunternehmen unter Berücksichtigung der WTO-Vorgaben
    Author: Cui, Xin
    Published: 2010

    Location:
    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
    Signature:
    H 10 B 1116
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    A 261173
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    Content information
    Source: Union catalogues
    Language: German
    Media type: Dissertation
    Format: Print
    RVK Categories: QR 760
    Subjects: Strategische Allianz; Telekommunikationssektor; Auslandsinvestition; WTO-Recht; Joint Venture; Kfz-Industrie; China
    Scope: V, 230 S., graph. Darst.
    Notes:

    Dresden, Techn. Univ., Diss., 2010
  5. Mode of international investment and endogenous risk of expropriation
    Author: Dadasov, Ramin; Lorz, Oliver
    Published: 2010
    Publisher:  Univ., Dep. of Business Administration & Economics, Marburg

    In this paper, we develop a politico-economic model to analyze the relationship between the mode of international investment and institutional quality in a non-democratic capital importing country. Foreign investors from a capital-rich North can... more

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    Staats- und Universitätsbibliothek Bremen
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 102 (2010,35)
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    In this paper, we develop a politico-economic model to analyze the relationship between the mode of international investment and institutional quality in a non-democratic capital importing country. Foreign investors from a capital-rich North can either purchase productive assets in a capital-poor South and transfer their capital within integrated multinational firms or they can form joint ventures with local asset owners. The South is ruled by an autocratic elite that may use its political power to expropriate productive assets. In a joint venture, the domestic asset owner bears the risk of expropriation, whereas in an integrated firm, this risk affects the foreign investor. This effect lowers the incentives for specific investments in an integrated firm and distorts the decision between joint ventures and integrated production. By setting the institutional framework in the host country, the elite influences the risk of expropriation. We determine the equilibrium risk of expropriation in this framework and the resulting pattern of international production. We also analyze as to how globalization, which is reflected in a decline in investment costs, in influences institutional quality. -- Foreign direct investment ; joint venture ; property rights ; expropriation

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/56557
    Series: Joint discussion paper series in economics ; 35-2010
    Subjects: Auslandsinvestition; Joint Venture; Kapitalimport; Sachenrecht; Politisches System; Institutionelle Infrastruktur; Kleine offene Volkswirtschaft; Nord-Süd-Beziehungen; Theorie
    Scope: Online-Ressource (PDF-Datei: 22 S., 327,68 KB), graph. Darst.
  6. Software and animation in North Korea
    EU firms' activities, Korea Computer Centre Europe and Nosotek JV Company and EU's Route to DPRK
    Author: Pak, Sŏng-jo
    Published: 2010

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Article (edited volume)
    Format: Print
    Parent title: In: Europe - North Korea; Berlin : Lit, 2010; (2010), Seite 277-305; 327 S.

    Subjects: Softwareindustrie; Computerspiel; Joint Venture; Auslandsverlagerung; Standortfaktor; Nordkorea; Ostdeutschland
    Scope: Ill.
  7. Mode of international investment and endogenous risk of expropriation
    Author: Dadašov, Ramin; Lorz, Oliver
    Published: Dec. 2010
    Publisher:  FIW, Wien

    In this paper, we develop a politico-economic model to analyze the relationship between the mode of international investment and institutional quality in a non-democratic capital importing country. Foreign investors from a capital-rich North can... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 521 (66)
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    In this paper, we develop a politico-economic model to analyze the relationship between the mode of international investment and institutional quality in a non-democratic capital importing country. Foreign investors from a capital-rich North can either purchase productive assets in a capital-poor South and transfer their capital within integrated multinational firms or they can form joint ventures with local asset owners. The South is ruled by an autocratic elite that may use its political power to expropriate productive assets. In a joint venture, the domestic asset owner bears the risk of expropriation, whereas in an integrated firm, this risk affects the foreign investor. This effect lowers the incentives for specific investments in an integrated firm and distorts the decision between joint ventures and integrated production. By setting the institutional framework in the host country, the elite influences the risk of expropriation. We determine the equilibrium risk of expropriation in this framework and the resulting pattern of international production. We also analyze as to how globalization, which is reflected in a decline in investment costs, influences institutional quality.

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/121069
    RVK Categories: QM 355
    Series: FIW working paper ; 66
    Subjects: Auslandsinvestition; Joint Venture; Kapitalimport; Sachenrecht; Politisches System; Institutionelle Infrastruktur; Kleine offene Volkswirtschaft; Nord-Süd-Beziehungen; Theorie
    Scope: Online-Ressource (22 S.), graph. Darst.