ISBN:
9783653005738
,
9783631602515
,
9783653005738
Language:
English
Pages:
xx, 114 p.
Edition:
Online-Ausg. 2011 Available via World Wide Web
Series Statement:
Corporate finance and governance Bd. 3
Parallel Title:
Print version Value Creation within the Construction Industry
Dissertation note:
European Business School Univ., Diss., 2009
DDC:
301.54096982
Keywords:
Construction industry -- Finance
;
Consolidation and merger of corporations
;
Electronic books
;
Electronic books
;
Hochschulschrift
;
Hochschulschrift
;
Bauwirtschaft
;
Mergers and Acquisitions
Abstract:
Includes bibliographical references
Abstract:
Mergers & Acquisitions (M&A) are important strategic business options for corporations. Yet, the understanding of industry-specific drivers of M&A transactions is more than limited. Characterized by highly fragmented markets, cross-company production structures and increasing international business scope, the construction industry represents an attractive field of research to address questions on M&A motives. Based on comprehensively selected datasets and state-of-the-art empirical methods, the study illustrates the motives, the strategy and the effects of M&A transaction within the constructi
Description / Table of Contents:
Table of Contents; List of Tables XIII; List of Figures XV; List of Abbreviations XVII; List of Symbols XIX; 1 Introduction 1; 1.1 Research Overview and Objectives 1; 1.2 Study One: Objectives and Main Findings 3; 1.3 Study Two: Objectives and Main Findings 4; 1.4 Study Three: Objectives and Main Findings 6; 2 Consolidation, Value Chain Extension and Outside Industry Investors - Value-Generating M&A Strategies in the Construction Industry 7; 2.1 Introduction 8; 2.2 Related Literatures 11; 2.3 Data and Methodology 13; 2.3.1 Data and Sample Selection 13; 2.3.2 Methodology 15
Description / Table of Contents:
2.4 Empirical Results 162.4.1 Overall Sample Analysis 16; 2.4.2 Strategic Focuses of Takeovers 19; 2.4.3 Domestic and International Takeovers 24; 2.4.4 M&A Across Decades 29; 2.5 Success Parameters of Takeovers 31; 2.6 Conclusion 34; 3 Strategic Bidders and Long-Run M&A Success Beyond Monopolistic Power 37; 3.1 Introduction 38; 3.2 Data and Methodology 42; 3.2.1 Data 42; 3.2.2 Methodology 44; 3.3 Empirical Results 46; 3.3.1 Overall Sample Analysis 46; 3.3.2 Strategic Focuses of Takeovers by Construction Firms 48; 3.3.3 Detailed Analysis of Takeovers of Non-Construction Firms 51
Description / Table of Contents:
3.3.4 Domestic and International Takeovers 543.4 Success Parameters of Takeovers 59; 3.5 Conclusion 63; 4 The Deteriorating Wealth Effect of National Acquisitions in Fragmented and Declining Markets 67; 4.1 Introduction 68; 4.2 Acquirer and Targets 72; 4.2.1 The Acquirer Walter Bau 72; 4.2.2 Target 1: Concrete Construction Group 79; 4.2.3 Target 2: Heilit Wörner 79; 4.2.4 Target 3: DYWIDAG 80; 4.2.5 Target 4: Züblin 81; 4.3 Methodology 83; 4.3.1 Methodology for the Short-Term Analysis 83; 4.3.2 Methodology for the Long-Term Analysis 84; 4.4 Analysis of the M&A strategy of Walter Bau 84
Description / Table of Contents:
4.4.1 The Acquisition of Concrete Construction Group 864.4.2 The Acquisition of Heilit Wörner 88; 4.4.3 The Acquisition of DYWIDAG 90; 4.4.4 The Acquisition Attempt of Züblin 93; 4.5 Conclusion 95; 5 Conclusion 97; Reference List 99
Note:
Description based upon print version of record
,
Available via World Wide Web
URL:
Volltext
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