Merge or Fail? The Determinants of Mergers and Bankruptcies in Switzerland, 1995-2000
AbstractThis paper examines the determinants of mergers and bankruptcies, using firm level data from the Swiss Business Census and the Dun & Bradstreet exit database for Switzerland (1995-2000). Employing duration analysis, we find considerable differences in the determinants of mergers and bankruptcies, in particular with respect to firm size, location and the impact of macroeconomic conditions. Our results support the notion that mergers are often undertaken to seize growth opportunities.
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Bibliographic InfoPaper provided by University of Zurich, Socioeconomic Institute in its series Working Papers with number 0506.
Length: 18 pages
Date of creation: Mar 2005
Date of revision:
Publication status: Published in Letters 90(1), 2005, pages 88-95
merger; bankruptcy; failure; survival; exit;
Other versions of this item:
- Buehler, Stefan & Kaiser, Christian & Jaeger, Franz, 2006. "Merge or fail? The determinants of mergers and bankruptcies in Switzerland, 1995-2000," Economics Letters, Elsevier, vol. 90(1), pages 88-95, January.
- C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
- L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
- L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-02-12 (All new papers)
- NEP-ENT-2006-02-12 (Entrepreneurship)
- NEP-TID-2006-02-12 (Technology & Industrial Dynamics)
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