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When do firms go in for growth by acquisitions?

Article Abstract:

Publicly trading companies in the UK indulge in acquisition activities as a means of expansion if they have enough excess funds as well as healthy ratings in the stock market. They evaluate the expected profits from acquisition activities depending on the kind of market they belong. It is deemed desirable when more profitable alternatives are unavailable. However, in markets with stiff competition, the costs of outbidding rivals usually marginalize benefits from the activity.

Author: Hay, Donald A., Liu, Guy S.
Publisher: Blackwell Publishers Ltd.
Publication Name: Oxford Bulletin of Economics & Statistics
Subject: Economics
ISSN: 0305-9049
Year: 1998
Acquisitions Analysis, Analysis, Risk assessment, Economic aspects, Acquisitions and mergers, Financial analysis, Corporate growth

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The efficiency of firms: what difference does competition make?

Article Abstract:

An analysis of the effects of competition on the efficiency of firms reveals that the short-term reduction in market shares does induce firms to improve its efficiency relative to its 'best practice.' The study also reveals that long-term differences in efficiencies are directly related to difference in gross investment. The paper is an attempt to quantitatively analyze the theories that firms are pushed to maximize their efficiency in competitive environments.

Author: Hay, Donald A., Liu, Guy S.
Publisher: Blackwell Publishers Ltd.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1997
Management-Productivity, Research, Competition (Economics), Influence, Market share, Industrial efficiency, Economic efficiency, Organizational effectiveness

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The investment behaviour of firms in an oligopolistic setting

Article Abstract:

An oligopolistic investment behavior model was developed and tested on 114 UK firms. The firms represent 15 manufacturing industries that are characterized as being either fragmented, dominant group or dominant firm sectors. Results indicate noncooperative behavior in fragmented sectors, competitive in dominant firm sectors and cooperative in dominant group sectors.

Author: Hay, Donald A., Liu, Guy S.
Publisher: Blackwell Publishers Ltd.
Publication Name: Journal of Industrial Economics
Subject: Economics
ISSN: 0022-1821
Year: 1998
MISCELLANEOUS MANUFACTURING INDUSTRIES, Manufacturing NEC, All Other Miscellaneous Manufacturing, United Kingdom, Oligopolies, Industrial cooperation

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Subjects list: Models, Manufacturing industry, Manufacturing industries
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