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Merge or Fail? The Determinants of Mergers and Bankruptcies in Switzerland, 1995-2000

Author

Listed:
  • Stefan Buehler

    (Socioeconomic Institute, University of Zurich)

  • Christian Kaiser

    (University of St. Gallen)

  • Franz Jaeger

    (University of St. Gallen)

Abstract

This 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.

Suggested Citation

  • Stefan Buehler & Christian Kaiser & Franz Jaeger, 2005. "Merge or Fail? The Determinants of Mergers and Bankruptcies in Switzerland, 1995-2000," SOI - Working Papers 0506, Socioeconomic Institute - University of Zurich.
    • Handle: RePEc:soz:wpaper:0506
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    File URL: https://www.zora.uzh.ch/id/eprint/52203/1/wp0506.pdf
    File Function: First version, 2005
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    JEL classification:

    • 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

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