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dc.contributor.author
Arvanitis, Spyros
dc.contributor.author
Stucki, Tobias
dc.date.accessioned
2017-07-04T11:14:53Z
dc.date.available
2017-06-10T12:32:48Z
dc.date.available
2017-07-04T11:14:53Z
dc.date.issued
2012-09
dc.identifier.uri
http://hdl.handle.net/20.500.11850/61506
dc.identifier.doi
10.3929/ethz-a-007362339
dc.description.abstract
While previous studies on mergers and acquisitions (M&As) mostly relied on large firms, our study is based on a sample that includes all Swiss M&As that took place in the period 2006–2008, mostly of which have been SMEs. We investigate the firm characteristics that determine the innovation and economic performance of M&A. The performance measures are based on firms’ assessments. These measures are regressed on a series of possible determining factors as postulated in existing theoretical and empirical literature. M&A performance is primarily affected by specific M&A characteristics, but not by general market characteristics such as demand development or competition conditions. Rather astonishingly, it is also not affected by firm characteristics such as capital intensity, human capital endowment and firm size. There is an interesting exception: innovation activities. This means that with the remarkable exception of innovation activities the level of M&A performance is determined primarily by factors of the M&A process itself.
en_US
dc.format
application/pdf
dc.language.iso
en
en_US
dc.publisher
KOF Swiss Economic Institute, ETH Zurich
dc.rights.uri
http://rightsstatements.org/page/InC-NC/1.0/
dc.subject
Mergers and acquisitions
en_US
dc.subject
WIRTSCHAFTLICHKEIT
en_US
dc.subject
ECONOMIC EFFICIENCY
en_US
dc.subject
SMALL AND MEDIUM SIZED ENTERPRISES
en_US
dc.subject
Micro data
en_US
dc.subject
SCHWEIZ (MITTELEUROPA). SCHWEIZERISCHE EIDGENOSSENSCHAFT
en_US
dc.subject
KLEINE UND MITTLERE UNTERNEHMEN
en_US
dc.subject
SWITZERLAND (CENTRAL EUROPE). SWISS CONFEDERATION
en_US
dc.subject
Innovation performance
en_US
dc.subject
Economic performance
en_US
dc.subject
BETRIEBSSFUSIONEN
en_US
dc.subject
BUSINESS AMALGAMATIONS
en_US
dc.title
How Swiss Small- and Medium-sized Firms Assess the Performance Impact of Mergers and Acquisitions
en_US
dc.type
Working Paper
dc.rights.license
In Copyright - Non-Commercial Use Permitted
dc.date.published
2012
ethz.journal.title
KOF Working Papers
ethz.journal.volume
312
en_US
ethz.size
29 p.
en_US
ethz.code.ddc
DDC - DDC::3 - Social sciences::330 - Economics
en_US
ethz.notes
.
en_US
ethz.identifier.nebis
007362339
ethz.publication.place
Zürich
en_US
ethz.publication.status
published
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::02525 - KOF Konjunkturforschungsstelle / KOF Swiss Economic Institute
ethz.leitzahl.certified
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::02525 - KOF Konjunkturforschungsstelle / KOF Swiss Economic Institute
ethz.date.deposited
2017-06-10T12:33:44Z
ethz.source
ECOL
ethz.source
ECIT
ethz.identifier.importid
imp59366b2c8981714082
ethz.identifier.importid
imp59365035ca1a379613
ethz.ecolpid
eth:5964
ethz.ecitpid
pub:97969
ethz.eth
yes
en_US
ethz.availability
Open access
en_US
ethz.rosetta.installDate
2017-07-04T11:14:55Z
ethz.rosetta.lastUpdated
2020-02-15T06:06:16Z
ethz.rosetta.versionExported
true
ethz.COinS
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