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La actividad de los grupos empresariales en las OPA. La experiencia española (1983-2007)


  • Inés Pérez-Soba Aguilar

    (Universidad Complutense de Madrid)


This paper analyses the activities developed by groups of companies as purchasers in the Spanish Takeover Bid market from 1983 to 2007. This period is especially interesting due to the reorganization of market quotas caused by the introduction of Spain into the Economic and Monetary Union. The analysis is carried out from a sectorial view and depending on the kind of group (industrial or financial) that had performed the operation. Furthermore it highlights the role played by state groups of companies as acquirers and the Government influence to create groups of companies.

Suggested Citation

  • Inés Pérez-Soba Aguilar, 2008. "La actividad de los grupos empresariales en las OPA. La experiencia española (1983-2007)," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 68(02), pages 134-155.
  • Handle: RePEc:ekz:ekonoz:2008207

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    References listed on IDEAS

    1. Muscatelli, V. Anton & Tirelli, Patrizio & Trecroci, Carmine, 2004. "Fiscal and monetary policy interactions: Empirical evidence and optimal policy using a structural New-Keynesian model," Journal of Macroeconomics, Elsevier, vol. 26(2), pages 257-280, June.
    2. Marcus Miller & Mark Salmon, 1985. "Policy Coordination and Dynamic Games," NBER Chapters,in: International Economic Policy Coordination, pages 184-227 National Bureau of Economic Research, Inc.
    3. Tabellini, Guido, 1990. "Domestic politics and the international coordination of fiscal policies," Journal of International Economics, Elsevier, vol. 28(3-4), pages 245-265, May.
    4. Uhlig, H.F.H.V.S., 2002. "One Money, But Many Fiscal Policies in Europe : What are the Consequences?," Discussion Paper 2002-32, Tilburg University, Center for Economic Research.
    5. Charles Wyplosz, 2005. "Fiscal Policy: Institutions versus Rules," National Institute Economic Review, National Institute of Economic and Social Research, vol. 191(1), pages 64-78, January.
    6. Jurg Niehans, 1968. "Monetary and Fiscal Policies in Open Economies under Fixed Exchange Rates: An Optimizing Approach," Journal of Political Economy, University of Chicago Press, vol. 76, pages 893-893.
    7. Simon Wren-Lewis, 2003. "Changing the Rules," New Economy, Institute for Public Policy Research, vol. 10(2), pages 73-78, June.
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    More about this item


    tender offer; economic integration; firms group; industrial policy;

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods


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