메뉴 건너뛰기




Volumn 97, Issue 3, 2006, Pages 296-313

Industry dynamics in the German merger and acquisitions market

Author keywords

Agglomeration; Distance; Germany; Gravity model; Industry sectors; Mergers and acquisitions

Indexed keywords


EID: 33745032513     PISSN: 0040747X     EISSN: 14679663     Source Type: Journal    
DOI: 10.1111/j.1467-9663.2006.00521.x     Document Type: Review
Times cited : (21)

References (80)
  • 2
    • 0032378061 scopus 로고    scopus 로고
    • Why Do Managers Undertake Acquisitions? An Analysis of Internal and External Rewards for Acquisitiveness
    • Avery, C., J.A. Chevalier & S. Schaefer (1998), Why Do Managers Undertake Acquisitions? An Analysis of Internal and External Rewards for Acquisitiveness. Journal of Law, Economics, and Organizations 14, pp. 24-43.
    • (1998) Journal of Law, Economics, and Organizations , vol.14 , pp. 24-43
    • Avery, C.1    Chevalier, J.A.2    Schaefer, S.3
  • 4
    • 0042197507 scopus 로고    scopus 로고
    • Toward a Reconceptualization of Regional Development Paths: Is Leipzig's Media Cluster a Continuation of or a Rupture with the Past?
    • Bathelt, H. & J.S. Boggs (2003), Toward a Reconceptualization of Regional Development Paths: Is Leipzig's Media Cluster a Continuation of or a Rupture with the Past? Economic Geography 79, pp. 265-293.
    • (2003) Economic Geography , vol.79 , pp. 265-293
    • Bathelt, H.1    Boggs, J.S.2
  • 5
    • 33745047905 scopus 로고    scopus 로고
    • Die Struktur und Reorganisation der Zulieferer- und Dienstleisterbeziehungen des Industriepark Höchst (IPH)
    • IWSG Working paper 02-2001 Frankfurt am Main: Johann Wolfgang Goethe-Universität Frankfurt
    • Bathelt, H. & K. Griebel (2001), Die Struktur und Reorganisation der Zulieferer- und Dienstleisterbeziehungen des Industriepark Höchst (IPH) (The Structure and Reorganisation of Subcontractor and Service Providers in the H-chst Industrial Park). IWSG Working paper 02-2001, Frankfurt am Main: Johann Wolfgang Goethe-Universität Frankfurt.
    • (2001)
    • Bathelt, H.1    Griebel, K.2
  • 9
    • 0041566677 scopus 로고    scopus 로고
    • Cross-border Mergers/Acquisitions: A Review and Research Agenda
    • Chapman, K. (2003): Cross-border Mergers/Acquisitions: A Review and Research Agenda. Journal of Economic Geography 3, pp. 309-334.
    • (2003) Journal of Economic Geography , vol.3 , pp. 309-334
    • Chapman, K.1
  • 10
    • 0033665564 scopus 로고    scopus 로고
    • Mergers/Acquisitions and Restructuring in the EU Chemical Industry: Patterns and Implications
    • Chapman, K. & H. Edmond (2000), Mergers/Acquisitions and Restructuring in the EU Chemical Industry: Patterns and Implications. Regional Studies 34, pp. 753-767.
    • (2000) Regional Studies , vol.34 , pp. 753-767
    • Chapman, K.1    Edmond, H.2
  • 11
    • 0027525787 scopus 로고
    • Costs and Prices, Corporate Competitive Strategies and Regions
    • Clark, G.L. (1993), Costs and Prices, Corporate Competitive Strategies and Regions. Environment and Planning A 25, pp. 5-26.
    • (1993) Environment and Planning A , vol.25 , pp. 5-26
    • Clark, G.L.1
  • 12
    • 27344437189 scopus 로고    scopus 로고
    • Path Dependence and Financial Markets: The Economic Geography of the German Model
    • Clark, G.L. & D. Wójcik (2005), Path Dependence and Financial Markets: The Economic Geography of the German Model. Environment and Planning A 37, pp. 1769-1791.
    • (2005) Environment and Planning A , vol.37 , pp. 1769-1791
    • Clark, G.L.1    Wójcik, D.2
  • 16
    • 0031091885 scopus 로고    scopus 로고
    • The European Internal Market Programme and Inbound Foreign Direct Investment
    • Dunning, J.H. (1997), The European Internal Market Programme and Inbound Foreign Direct Investment. Journal of Common Market Studies 35, pp. 189-223.
    • (1997) Journal of Common Market Studies , vol.35 , pp. 189-223
    • Dunning, J.H.1
  • 17
    • 33745047207 scopus 로고    scopus 로고
    • Micro-foundations of Urban Agglomeration Economies
    • NBER Working paper 9931 Cambridge, MA
    • Duranton, G. & D. Puga (2003), Micro-foundations of Urban Agglomeration Economies. NBER Working paper 9931, Cambridge, MA.
    • (2003)
    • Duranton, G.1    Puga, D.2
  • 18
    • 0003814274 scopus 로고    scopus 로고
    • Economic Intelligence Unit. New York: Economic Intelligence Unit
    • Economic Intelligence Unit. (1996), International Mergers and Acquisitions. New York: Economic Intelligence Unit.
    • (1996) International Mergers and Acquisitions
  • 19
    • 0003879825 scopus 로고    scopus 로고
    • The Rise of the Creative Class and How It's Transforming Work, Leisure, Community and Everyday Life
    • New York: Perseus
    • Florida, R. (2002), The Rise of the Creative Class and How It's Transforming Work, Leisure, Community and Everyday Life. New York: Perseus.
    • (2002)
    • Florida, R.1
  • 20
    • 0001610140 scopus 로고
    • The World City Hypothesis
    • Friedmann, J. (1986), The World City Hypothesis. Development and Change 4, pp. 12-50.
    • (1986) Development and Change , vol.4 , pp. 12-50
    • Friedmann, J.1
  • 21
    • 0347235636 scopus 로고
    • Die Bewertung von Unternehmensübernahmen auf dem Deutschen Aktienmarkt
    • Gerke, W., H. Garz & M. Oerke (1995), Die Bewertung von Unternehmensübernahmen auf dem Deutschen Aktienmarkt (The Evaluation of Corporate Acquisitions on the German Stock Market). Zeitschrift für Betriebswirtschaftliche Forschung 47, pp. 805-820.
    • (1995) Zeitschrift Für Betriebswirtschaftliche Forschung , vol.47 , pp. 805-820
    • Gerke, W.1    Garz, H.2    Oerke, M.3
  • 23
    • 25444492663 scopus 로고    scopus 로고
    • Making Embeddedness Work: Social Practice Institutions in Foreign Consulting Markets
    • Glückler, J. (2005), Making Embeddedness Work: Social Practice Institutions in Foreign Consulting Markets. Environment and Planning A 37, pp. 1727-1750.
    • (2005) Environment and Planning A , vol.37 , pp. 1727-1750
    • Glückler, J.1
  • 24
    • 0035059866 scopus 로고    scopus 로고
    • Ecologies of Creativity: The Village, the Group, and the Heterarchic Organisation of the British Advertising Industry
    • Grabher, G. (2001), Ecologies of Creativity: The Village, the Group, and the Heterarchic Organisation of the British Advertising Industry. Environment & Planning A 33, pp. 351-374.
    • (2001) Environment & Planning A , vol.33 , pp. 351-374
    • Grabher, G.1
  • 25
    • 0036092974 scopus 로고    scopus 로고
    • The Project Ecology of Advertising: Talents, Tasks, and Teams
    • Grabher, G. (2002), The Project Ecology of Advertising: Talents, Tasks, and Teams. Regional Studies 36, pp. 245-62.
    • (2002) Regional Studies , vol.36 , pp. 245-262
    • Grabher, G.1
  • 26
    • 0004673402 scopus 로고    scopus 로고
    • Cyberspace and Call Centers. New Patterns of Location, Outsourcing and Reengineering of Services in Germany
    • Graef, P. (1998), Cyberspace and Call Centers. New Patterns of Location, Outsourcing and Reengineering of Services in Germany. Netcom 12, pp. 397-402.
    • (1998) Netcom , vol.12 , pp. 397-402
    • Graef, P.1
  • 28
    • 0003012770 scopus 로고    scopus 로고
    • International Acquisitions: Host and Home Country Explanatory Characteristics
    • Green, M.B. & S.P. Mayer (1997), International Acquisitions: Host and Home Country Explanatory Characteristics. Geografiska Annaler 79B, pp. 97-111.
    • (1997) Geografiska Annaler , vol.79 B , pp. 97-111
    • Green, M.B.1    Mayer, S.P.2
  • 30
    • 13944275605 scopus 로고    scopus 로고
    • Internationalisierung im Textil- und Bekleidungsgewerbe
    • Haas, H.-D. & H.-M. Zademach (2005), Internationalisierung im Textil- und Bekleidungsgewerbe. (Internationalisation and Trade in the Textile and Apparel Industry) Geographische Rundschau 57, pp. 30-38.
    • (2005) Geographische Rundschau , vol.57 , pp. 30-38
    • Haas, H.-D.1    Zademach, H.-M.2
  • 31
    • 33745050060 scopus 로고    scopus 로고
    • 'Quiet' Restructuring in the Ordinary Region. A Case Study of the Textile Industry Cluster in Westmünsterland, Germany
    • Paper presented at the RGS-IBG International Annual Conference London
    • Hassink, R. (2003), 'Quiet' Restructuring in the Ordinary Region. A Case Study of the Textile Industry Cluster in Westmünsterland, Germany. Paper presented at the RGS-IBG International Annual Conference, London.
    • (2003)
    • Hassink, R.1
  • 33
    • 0004039022 scopus 로고
    • Towards a New Map of Automobile Manufacturing in Europe? New Production Concepts and Spatial Restructuring
    • Berlin: Springer
    • Hudson, R. & E.W. Schamp (1995), Towards a New Map of Automobile Manufacturing in Europe? New Production Concepts and Spatial Restructuring. Berlin: Springer.
    • (1995)
    • Hudson, R.1    Schamp, E.W.2
  • 34
    • 34447504242 scopus 로고
    • The Market for Corporate Control. The Scientific Evidence
    • Jensen, M.C. & R.S. Ruback (1983), The Market for Corporate Control. The Scientific Evidence. Journal of Financial Economics 11, pp. 5-50.
    • (1983) Journal of Financial Economics , vol.11 , pp. 5-50
    • Jensen, M.C.1    Ruback, R.S.2
  • 36
    • 0036138117 scopus 로고    scopus 로고
    • Network Analysis of Production Clusters: The Potsdam/Babelsberg Film Industry as an Example
    • Krätke, S. (2002), Network Analysis of Production Clusters: The Potsdam/Babelsberg Film Industry as an Example. European Planning Studies 10, pp. 27-54.
    • (2002) European Planning Studies , vol.10 , pp. 27-54
    • Krätke, S.1
  • 37
    • 0141940282 scopus 로고    scopus 로고
    • Global Media Cities in a Worldwide Urban Network
    • Krätke, S. (2003), Global Media Cities in a Worldwide Urban Network. European Planning Studies 11, pp. 605-628.
    • (2003) European Planning Studies , vol.11 , pp. 605-628
    • Krätke, S.1
  • 38
    • 0029483837 scopus 로고
    • The Foreign Takeover of the Spanish Automobile Industry: A Growth Analysis of Internationalisation
    • Lagendijk, A. (1995), The Foreign Takeover of the Spanish Automobile Industry: A Growth Analysis of Internationalisation. Regional Studies 29, pp. 381-393.
    • (1995) Regional Studies , vol.29 , pp. 381-393
    • Lagendijk, A.1
  • 40
    • 33745048885 scopus 로고    scopus 로고
    • Netzwerke im Mergers & Acquisitions-Geschäft
    • E.W. Schamp, ed. Frankfurtam Main: Johann Wolfgang Goethe-Universität
    • Lo, V. (2000), Netzwerke im Mergers & Acquisitions-Geschäft (Networking for Localised Knowledge - The Case of the M&A-sector). In: E.W. Schamp, ed., Vernetzung als Wettbewerbsfaktor. Frankfurtam Main: Johann Wolfgang Goethe-Universität.
    • (2000) Vernetzung Als Wettbewerbsfaktor
    • Lo, V.1
  • 41
    • 0008744302 scopus 로고    scopus 로고
    • Do Long-Term Shareholders Benefit from Corporate Aquisitions?
    • Loughran, T. & A.M. Vij (1997), Do Long-Term Shareholders Benefit from Corporate Aquisitions? Journal of Finance 52, pp. 1765-1790.
    • (1997) Journal of Finance , vol.52 , pp. 1765-1790
    • Loughran, T.1    Vij, A.M.2
  • 43
    • 33745045112 scopus 로고    scopus 로고
    • From the Old Economy to the New Economy. Myths, Realities and Geographies
    • Paper presented at the Regional Studies Association Conference on Geographies of the New Economy, London
    • Martin, R. (2002), From the Old Economy to the New Economy. Myths, Realities and Geographies. Paper presented at the Regional Studies Association Conference on Geographies of the New Economy, London.
    • (2002)
    • Martin, R.1
  • 44
    • 0037270045 scopus 로고    scopus 로고
    • Deconstructing Clusters: Chaotic Concept or Policy Panacea?
    • Martin, R.L. & P. Sunley (2003), Deconstructing Clusters: Chaotic Concept or Policy Panacea? Journal of Economic Geography 3, pp. 5-35.
    • (2003) Journal of Economic Geography , vol.3 , pp. 5-35
    • Martin, R.L.1    Sunley, P.2
  • 45
    • 0032903443 scopus 로고    scopus 로고
    • Localised Learning and Industrial Competitiveness
    • Maskell, P. & A. Malmberg (1999), Localised Learning and Industrial Competitiveness. Cambridge Journal of Economics 23, pp. 167-185.
    • (1999) Cambridge Journal of Economics , vol.23 , pp. 167-185
    • Maskell, P.1    Malmberg, A.2
  • 46
    • 33745029425 scopus 로고    scopus 로고
    • Mergers & Acquisitions in Fakten und Zahlen
    • Mergers & A cquisitions. Available online at accessed 18 September
    • Mergers & A cquisitions. (2003), Mergers & Acquisitions in Fakten und Zahlen (Facts and Figures on Mergers & Acquisitions). Available online at http://www.m-and-a.de accessed 18 September.
    • (2003)
  • 47
    • 0030445593 scopus 로고    scopus 로고
    • Restructuring of the European Production System: Processes and Consequences
    • Nilsson, J.E. & E.W. Schamp (1996), Restructuring of the European Production System: Processes and Consequences. European Urban and Regional Studies 3, pp. 121-132.
    • (1996) European Urban and Regional Studies , vol.3 , pp. 121-132
    • Nilsson, J.E.1    Schamp, E.W.2
  • 48
    • 8844244067 scopus 로고    scopus 로고
    • Konzentrationsprozesse in der Milchwirtschaft Norddeutschlands - Wirtschaftsräumliche Grundlagen und Auswirkungen
    • Nuhn, H. (1999a), Konzentrationsprozesse in der Milchwirtschaft Norddeutschlands - Wirtschaftsräumliche Grundlagen und Auswirkungen (Concentration Processes in Diary Farming in Northern Germany - Spatio-economical Fundamentals and Implications). Berichte zur Deutschen Landeskunde 73, pp. 165-190.
    • (1999) Berichte Zur Deutschen Landeskunde , vol.73 , pp. 165-190
    • Nuhn, H.1
  • 49
    • 33745030923 scopus 로고    scopus 로고
    • Fusionsfieber - Neuorganisation der Produktion in Zeiten der Globalisierung
    • Nuhn, H. (1999b), Fusionsfieber - Neuorganisation der Produktion in Zeiten der Globalisierung (Merger-mania - Reorganisation of Production in Times of Globalisation). Geographie und Schule 21, pp. 16-22.
    • (1999) Geographie Und Schule , vol.21 , pp. 16-22
    • Nuhn, H.1
  • 50
    • 0034926662 scopus 로고    scopus 로고
    • Megafusionen. Neuorganisation großer Unternehmen im Rahmen der Globalisierung
    • Nuhn, H. (2001), Megafusionen. Neuorganisation großer Unternehmen im Rahmen der Globalisierung (Mega-mergers. Reorganisation of Big Firms in the Context of Globalisation). Geographische Rundschau 35, pp. 16-24.
    • (2001) Geographische Rundschau , vol.35 , pp. 16-24
    • Nuhn, H.1
  • 51
    • 33745043883 scopus 로고    scopus 로고
    • Konzentrationsprozesse in der Wirtschaft
    • Institut für Länderkunde, ed. Heidelberg: Spektrum
    • Nuhn, H. (2004), Konzentrationsprozesse in der Wirtschaft (Concentration Processes in the Economy). In: Institut für Länderkunde, ed., Nationalatlas Bundesrepublik Deutschland: Band 9. Unternehmen und Märkte, pp. 54-55. Heidelberg: Spektrum.
    • (2004) Nationalatlas Bundesrepublik Deutschland: Band 9. Unternehmen Und Märkte , pp. 54-55
    • Nuhn, H.1
  • 52
    • 0028575557 scopus 로고
    • Foreign Banking in the American Urban System of Financial Organization
    • O'huhallachàin, B. (1994), Foreign Banking in the American Urban System of Financial Organization. Economic Geography 70, pp. 206-228.
    • (1994) Economic Geography , vol.70 , pp. 206-228
    • O'huhallachàin, B.1
  • 53
    • 0041608163 scopus 로고    scopus 로고
    • Cross-Border Mergers and Acquisitions: Their Role in Industrial Globalisation
    • Organisation for Economic Co-operation and Development (OECD). STI Working paper 2000/1, Paris: OECD
    • Organisation for Economic Co-operation and Development (OECD). (2000), Cross-Border Mergers and Acquisitions: Their Role in Industrial Globalisation. STI Working paper 2000/1, Paris: OECD.
    • (2000)
  • 55
    • 0033818890 scopus 로고    scopus 로고
    • New Media, the New Economy and New Spaces
    • Pratt, A. (2000), New Media, the New Economy and New Spaces. Geoforum 31, pp. 425-436.
    • (2000) Geoforum , vol.31 , pp. 425-436
    • Pratt, A.1
  • 56
    • 0004136907 scopus 로고    scopus 로고
    • The Invisible Hand and the Weightless Economy
    • Occasional Paper No. 12 Centre for Economic Performance, London: LSE
    • Quah, D.T. (1996), The Invisible Hand and the Weightless Economy. Occasional paper No. 12, Centre for Economic Performance, London: LSE.
    • (1996)
    • Quah, D.T.1
  • 60
    • 33646806097 scopus 로고    scopus 로고
    • Better Rules or Stronger Communities? On the Social Foundations of Institutional Change and its Economic Effects
    • Rodrìguez-Pose, A. & M. Storper (2006), Better Rules or Stronger Communities? On the Social Foundations of Institutional Change and its Economic Effects. Economic Geography 82, pp. 1-25.
    • (2006) Economic Geography , vol.82 , pp. 1-25
    • Rodrìguez-Pose, A.1    Storper, M.2
  • 61
    • 0141817397 scopus 로고    scopus 로고
    • Rising Metropoli: The Geography of Mergers and Acquisitions in Germany
    • Rodrìguez-Pose, A. & H.-M. Zademach (2003), Rising Metropoli: The Geography of Mergers and Acquisitions in Germany. Urban Studies 40, pp. 1895-1923.
    • (2003) Urban Studies , vol.40 , pp. 1895-1923
    • Rodrìguez-Pose, A.1    Zademach, H.-M.2
  • 66
    • 0030463732 scopus 로고    scopus 로고
    • The Craft, Fashion, and Cultural Product Industries of Los Angeles: Competitive Dynamics and Policy Dilemmas in a Dultisectoral Image-producing Complex
    • Scott, A.J. (1996), The Craft, Fashion, and Cultural Product Industries of Los Angeles: Competitive Dynamics and Policy Dilemmas in a Dultisectoral Image-producing Complex. Annals of the American Association of Geographers 86, pp. 306-323.
    • (1996) Annals of the American Association of Geographers , vol.86 , pp. 306-323
    • Scott, A.J.1
  • 67
    • 33646879481 scopus 로고    scopus 로고
    • Returns to Acquiring Firms: The Role of Managerial Ownership, Managerial Wealth, and Outside Owners
    • Shinn, E.W. (1999), Returns to Acquiring Firms: The Role of Managerial Ownership, Managerial Wealth, and Outside Owners. Journal of Economics and Finance 23, pp. 78-89.
    • (1999) Journal of Economics and Finance , vol.23 , pp. 78-89
    • Shinn, E.W.1
  • 68
    • 45349109969 scopus 로고
    • Management Entrenchment: The Case of Manager-Specific Investments
    • Shleifer, A. & R.W. Vishny (1989), Management Entrenchment: The Case of Manager-Specific Investments. Journal of Financial Economics 25, pp. 123-139.
    • (1989) Journal of Financial Economics , vol.25 , pp. 123-139
    • Shleifer, A.1    Vishny, R.W.2
  • 69
    • 0033953921 scopus 로고    scopus 로고
    • World Cities and Territorial States under Conditions of Contemporary Globalization
    • Taylor, P.J. (2000), World Cities and Territorial States under Conditions of Contemporary Globalization, Political Geography 19, pp. 5-32.
    • (2000) Political Geography , vol.19 , pp. 5-32
    • Taylor, P.J.1
  • 70
    • 33745020824 scopus 로고    scopus 로고
    • Mergers & Acqusitions Report
    • Thomson Financial Available online at Accessed 3 September
    • Thomson Financial (2003), Mergers & Acqusitions Report. Available online at http://www.-mareport.com Accessed 3 September
    • (2003)
  • 71
    • 84989085874 scopus 로고
    • Merger Motives and Merger Prescription
    • Trautwein, F. (1990), Merger Motives and Merger Prescription. Strategic Management Journal 11, pp. 283-295.
    • (1990) Strategic Management Journal , vol.11 , pp. 283-295
    • Trautwein, F.1
  • 75
    • 33745023499 scopus 로고    scopus 로고
    • Survival in Global Business Arena in Key Driver of Cross-border Mergers and Acquisitions Boom
    • United Nations Conference on Trade and Development (UNCTAD) Press release TAD/INF/2855. Available online at Accessed 3 September 2003
    • United Nations Conference on Trade and Development (UNCTAD) (2000), Survival in Global Business Arena in Key Driver of Cross-border Mergers and Acquisitions Boom. Press release TAD/INF/2855. Available online at http://r0.unctad.org/en/press/pr2855en.htm Accessed 3 September 2003.
    • (2000)
  • 77
    • 0141587101 scopus 로고    scopus 로고
    • European Cities in the World Economy
    • A. Bagnasco & P. Le Galès, eds. Cambridge: Cambridge University Press
    • Veltz, P. (2000), European Cities in the World Economy. In: A. Bagnasco & P. Le Galès, eds., Cities in Contemporary Europe, pp. 33-47. Cambridge: Cambridge University Press.
    • (2000) Cities in Contemporary Europe , pp. 33-47
    • Veltz, P.1
  • 78
    • 0036828456 scopus 로고    scopus 로고
    • The Länder are the Building Blocks of the German Capital Market
    • Wójcik, D. (2002), The Länder are the Building Blocks of the German Capital Market. Regional Studies 36, pp. 877-895.
    • (2002) Regional Studies , vol.36 , pp. 877-895
    • Wójcik, D.1
  • 79
    • 0001042326 scopus 로고    scopus 로고
    • Corporate Finance, Leveraged Restructuring and the Economic Landscape: The LBO wave in US Food Retailing
    • R. Martin, ed. Chichester: John Wiley
    • Wrigley, N. (1999), Corporate Finance, Leveraged Restructuring and the Economic Landscape: The LBO wave in US Food Retailing. In: R. Martin, ed., Money and the Space Economy, pp. 185-205. Chichester: John Wiley.
    • (1999) Money and the Space Economy , pp. 185-205
    • Wrigley, N.1
  • 80
    • 0033802587 scopus 로고    scopus 로고
    • Rescaling Power Relations between Trade Unions and Corporate Management in a Globalising Pharmaceutical Industry: The Case of the Acquisition of Boehringer Mannheim by Hoffman-La Roche
    • Zeller, C. (2000), Rescaling Power Relations between Trade Unions and Corporate Management in a Globalising Pharmaceutical Industry: The Case of the Acquisition of Boehringer Mannheim by Hoffman-La Roche. Environment and Planning A 32, pp. 1545-1567.
    • (2000) Environment and Planning A , vol.32 , pp. 1545-1567
    • Zeller, C.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.