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MERGERS AND ACQUISITIONS

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MERGERS AND ACQUISITIONS

9781852784300 Edward Elgar Publishing
Edited by Gregory P. Marchildon, Institute of Health Policy, Management and Evaluation, University of Toronto, Canada
Publication Date: January 1991 ISBN: 978 1 85278 430 0 Extent: 608 pp
This important title is a collection of the most significant research in business history on mergers and acquisitions. As well as laying the empirical groundwork for all future analyses, the articles selected are those which have changed our assumptions concerning the nature and role of mergers in the development of the modern corporate economy. The legislative attempts in North America and Europe to reverse the trend towards business concentration have also generated much scholarly work. Going beyond the traditional methodology of business history, econometric analysis now permits the testing of various theories of the causes of mergers.

This landmark book will be an essential source of reference for any serious student of economics and business history.

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This important volume is a collection of the most significant research in business history on mergers and acquisitions. As well as laying the empirical groundwork for all future analyses, the articles selected are those which have changed our assumptions concerning the nature and role of mergers in the development of the modern corporate economy. The legislative attempts in North America and Europe to reverse the trend towards business concentration have also generated much scholarly work. Going beyond the traditional methodology of business history, econometric analysis now permits the testing of various theories of the causes of mergers.

This landmark book will be an essential source of reference for any serious student of economics and business history.
Contributors
Contributors include: A.R. Beckenstein, H.W. Chappell, Jr., L. Hannah, S. Livermore, D. Mueller, R.L. Nelson, G.J. Stigler
Contents
Contents: 1. Original Empirical Research 2. Impact on Economic Development 3. The Decision to Merge or Acquire: Case Studies 4. Concentration and Competition Policy 5. Searching for the Causes of Merger and Acquisition Waves
Contents:
Introduction
Part I: Original Empirical Research
R.L. Nelson (1959), 'Mergers and Acquisitions in the United States'
L. Hannah (1974), 'Mergers in British Manufacturing Industry, 1880-1918'
R. Tilly (1982), 'Mergers, External Growth, and Finance in the Development of Large-Scale Enterprise in Germany, 1880-1913'
L. Hannah (1974), 'Takeover Bids in Britain Before 1950: An Exercise in Business "Pre-History"'
Part II: Impact on Economic Development
S. Livermore (1935), 'The Success of Industrial Mergers'
G.J. Stigler (1950), 'Monopoly and Oligpoly by Merger'
M.A. Utton (1972), 'Some Features of the Early Merger Movements in British Manufacturing Industry'
H.G. Manne (1965), 'Mergers and the Market for Corporate Control'
T.R. Navin and M.V. Sears (1955), 'The Rise of a Market for Industrial Securities, 1887-1902'
A. Singh (1975), 'Take-Overs, Economic Natural Selection, and the Theory of the Firm: Evidence from the Postwar United Kingdom Experience'
Part III: The Decision to Merge or Acquire: Case Studies
W. Feldenkirchen (1987), 'Big Business in Interwar Germany: Organizational Innovation at Vereinigte Stahlwerke, IG Farben and Siemens'
H.M. Kramer (1964), 'Harvesters and High Finance: Formation of the International Harvester Company'
A.M. Carlos and E. Hoffman (1986), 'The North American Fur Trade: Bargaining to a Joint Profit Maximum under Incomplete Information, 1804-1821'
N. R. Lamoreaux (1980), 'Industrial Organization and Market Behavior: The Great Merger Movement in American Industry'
A.P. O'Brien (1988), 'Factory Size, Economies of Scale, and the Great Merger Wave of 1898-1902'
Part IV: Concentration and Competition Policy
C. Eis (1969), 'The 1919-1930 Merger Movement in American Industry'
D. C. Mueller (1977), 'The Effects of Conglomerate Mergers: A survey of the empirical evidence"
S. Aaronovitch and M.C. Sawyer (1975), 'Mergers, Growth and Concentration'
J. Müller (1976), 'The Impact of Mergers on Concentration: A Study of Eleven West German Industries'
C.J. Maule (1968), 'Antitrust and the Takeover Activity of American Firms in Canada'
H. Morikawa (1988), 'The Development of Multi-Industrial Concentration in Modern Japan'
Part V: Searching for the Causes of Merger and Acquisition Waves
A.R. Beckenstein (1979), 'Merger Activity and Merger Theories: An Empirical Investigation'
M. Gort (1969), 'An Economic Disturbance Theory of Mergers'
D. Mueller (1969), 'A Theory of Conglomerate Mergers'
G. Bittlingmayer (1985), 'Did Antitrust Policy Cause the Great Merger Wave?'
J. J. Clark, A.K Chakrabarti, and T.C. Chiang (1988), 'Stock Prices and Merger Movements: Interactive Relations'
H.W. Chappell, Jr. and D.C. Cheng (1984), 'Firms' Acquisition Decisions and Tobin's q Ratio'

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