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Einbettung von Merger und Akquisition in wirtschaftstheoretische Erklärungsansätze

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Listed:
  • Mittendorf, Thomas
  • Plöger, Andre

Abstract

The combination of enterprises is not a phenomenon of the last years. The concept of the "Mergers & Acquisitions" is based on fundamental economic theories, which are however often overlaid in the discussion by populist motives for the merger or acquisition in that particular case. This article brings a theoretical structure into the available reasons for mergers, with a special focus to the field of the New Institutional Economics. There exists no gold standard in arguing for or against mergers. A decision maker has to consider his specific situation when choosing between the different levels of co-operation up to the acquisition of an enterprise.

Suggested Citation

  • Mittendorf, Thomas & Plöger, Andre, 2003. "Einbettung von Merger und Akquisition in wirtschaftstheoretische Erklärungsansätze," Hannover Economic Papers (HEP) dp-271, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    • Handle: RePEc:han:dpaper:dp-271
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    References listed on IDEAS

    as
    1. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    2. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
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    More about this item

    Keywords

    Merger und Akquisition; New Institutional Economics; Transaction costs;
    All these keywords.

    JEL classification:

    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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