Mergers and Efficiency: Changes Across Time / Edition 1

by Susanne Trimbath

Overview

Mergers And Efficiency: Changes Across Time focuses on one aspect of the corporate finance revolution that restructured Corporate America and led to the longest expansion in U.S. history - changes in rates of merger efficiency. Demystifying this most controversial and dynamic period of U.S. economic history is key to understanding the business, financial and economic innovations that defined the last two decades of the 20th century. In addition, it is important to create a careful empirical understanding of the conditions under which merger activity increased or decreased firm efficiency, industrial productivity, and overall improvements in aggregate output and economic performance.

Product Details

ISBN-13:	9781402070150
Publisher:	Springer US
Publication date:	07/31/2002
Series:	The Milken Institute Series on Financial Innovation and Economic Growth , #3
Edition description:	2002
Pages:	278
Product dimensions:	6.14(w) x 9.21(h) x 0.24(d)

Table of Contents

Dedication.- List of Tables.- List of Figures.- List of Appendices.- Note from the Editor's. Acknowledgments. Preface.- 1. Inefficiency as Determinant of the Risk of Takeover.- 2. Heterogeneity in the Targets of Takeovers.- 3. The Efficiency Effects of Takeovers.- Appendices.- Bibliography.- Index.

Editorial Reviews

Trimbath (Milken Institute) examines the efficiency effects of corporate takeovers, defining efficiency as cost per unit of revenue, which directly measures the efficient use of resources in the production, distribution, and sale of gods and services. Using a large sample of Fortune 500 companies with data covering 17 years, she applies dynamic hazard models, which she says are preferable to the static bi-nomial and multi-nomial models used in earlier studies because they can examine the temporal profile of risk. She measures cost efficiency, profit performance, and stock market valuations. Annotation c. Book News, Inc., Portland, OR (booknews.com)

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