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| Author: | Welch, J. B. Bolster, P. |
| Title: | Corporate raiders do not cut investment in research and development |
| Journal: | Long Range Planning
1992 : DEC, VOL. 25:6, p. 72-78 |
| Index terms: | |
| Freeterms: | BETRIEBLICHE FORSCHUNG, FUSION, INVESTITIONSPOLITIK, UNTERNEHMENSSTRATEGIE |
| Language: | eng |
| Abstract: | A focal point of the public debate over the effects of corporate mergers and acquisitions is their impact on the level of spending on long term projects. This study examines the pre- and post-merger levels of spending on Research and Development and other capital expenditures. Analysis of expenditures for a sample the largest corporate mergers in the USA during the late 1970's indicate that long term spending rises significantly in the post-merger invironment. This supports the view that acquiring firms, whether hostile or friendly, recognize the relationship between suchs spending and firm value. |
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