haku: @indexterm Industrial organization / yhteensä: 223
viite: 72 / 223
| Tekijä: | Schoenberg, R. Reeves, R. |
| Otsikko: | What determines acquisition activity within an industry? |
| Lehti: | European Management Journal
1999 : VOL. 17:1, p. 93-98 |
| Asiasana: | MERGERS CORPORATE RESTRUCTURING INDUSTRIAL ORGANIZATION DEREGULATION |
| Kieli: | eng |
| Tiivistelmä: | Acquisitions in the UK have shown a steadily rising trend over recent years and one of the noticeable features of the current takeover wave is that it is concentrated in certain industry sectors, This article outlines five factors that may explain this variation in acquisition rates across indu- stry sectors An empirical investigation based on data from 200 UK industry sectors is then described which reveals the exposure to deregulation is in fact the most important sin- single discriminator between industries with high and low acquisition activity. Industry concentration and industry growth rate are also supported as determinants of the take- over rate within an industry. The results suggest that ex- ternal changes to industry regulation may act as a greater trigger to industry restructuring than internal industry dy- namics. |
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