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EnglishWe study the effects of ownership and complementarity on the performance of bilateral contracts (M&A, Minority Stake purchase and Joint Venture). We derive profitability conditions based on how a contract changes the asset control between partners and how thisaffects their position against competitors. Then we test our predictions on a sample of US firms. We build a multiproduct and time varying complementarity index in order to estimate the link between firms’ relationships within industry, and performance over time.[...]
http://hdl.handle.net/11575/12671| Titolo: | Integration Contracts and Asset Complementarity: Evidence from US Data |
| Autori interni: | PASSARELLI, Francesco |
| Data di pubblicazione: | 2013 |
| Abstract: | We study the effects of ownership and complementarity on the performance of bilateral contracts (M&A, Minority Stake purchase and Joint Venture). We derive profitability conditions based on how a contract changes the asset control between partners and how thisaffects their position against competitors. Then we test our predictions on a sample of US firms. We build a multiproduct and time varying complementarity index in order to estimate the link between firms’ relationships within industry, and performance over time.[...] |
| Handle: | http://hdl.handle.net/11575/12671 |
| Appare nelle tipologie: | 5.12 Altro |
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