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| Agrell, Per J.; Karantininis, Kostas. |
| Since March 1999 the two largest dairy cooperatives of Denmark, MD FOODS and KLOVER MAELK have merged after a long relationship ranging from joint ventures (such as the P-AMBA and M-AMBA companies) to various alleged price wars. We point out that the main reasons for merger from the point of view of MD FOODS were: (i) to establish monopoly power on the domestic market, (ii) to pursue an international growth strategy, (iii) to exploit rationality and coordination gains in the operations. Further, the merger counters the threat of (iv) an alleged foreign take-over of KLOVER, (v) further pressure by the Danish Competition Authority, and (vi) the increased concentration through mergers taking place in the dairy and retail industries in Europe. The... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Merger; Danish dairy industry; Farm cooperatives; Agribusiness. |
| Ano: 1999 |
URL: http://purl.umn.edu/24193 |
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| Giannetti, Mariassunta; Simonov, Andrei. |
| Exploiting the Japanese banking crisis as a laboratory, we provide firm-level evidence on the real effects of bank bailouts. Government recapitalizations result in positive abnormal returns for the clients of recapitalized banks. After recapitalizations, banks extend larger loans to their clients and some firms increase investment, but do not create more jobs than comparable firms. Most importantly, recapitalizations allow banks to extend larger loans to low and high quality firms alike, and low quality firms experience higher abnormal returns than other firms. Interestingly, recapitalizations by private investors have similar effects. Moreover, bank mergers engineered to enhance bank stability appear to hurt the borrowers of the sounder banks involved in... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Recapitalization; Merger; Banking Crisis; Financial Economics; G21; G34. |
| Ano: 2009 |
URL: http://purl.umn.edu/55330 |
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| Ahrendsen, Bruce L.; Dixon, Bruce L.; Lee, Laderrek T.. |
| In an era of rapid consolidation in banking, the effect of mergers on the availability of credit to agricultural businesses is unclear. Commercial bank mergers have profoundly altered the urban credit marketplace and are positioned to do the same for the agricultural credit marketplace. Adjustment models are estimated with data on independent bank consolidations from 1988 through 1995. The regression results bode well for agricultural lending if acquiring banks have larger concentrations of assets in agriculture than acquired banks. Conversely, if acquiring banks have smaller concentrations than acquired banks, acquisitions have a negative impact on agricultural lending. Since most acquiring banks have smaller agricultural loan concentrations than... |
| Tipo: Journal Article |
Palavras-chave: Acquisition; Agricultural loan portfolio; Banks; Consolidation; Merger; Agricultural Finance; Industrial Organization. |
| Ano: 1999 |
URL: http://purl.umn.edu/15363 |
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| Lee, Min-Yang A.; Braden, John B.. |
| Despite extensive research and policy initiatives to increase the technical, financial, and managerial capacity of small drinking water systems, there has been little research focusing on understanding how consolidation can increase the overall capacity of the drinking water industry. Consolidation of water systems may be a mechanism that increases regulatory compliance by removing poorly performing systems from the industry and replacing inefficient management and/or capital. The US drinking water system is highly fragmented, with over 50,000 Community Water Systems (CWSs), of which the vast majority are classified as "small" by the US Environmental Protection Agency (EPA). A discrete choice model is employed to determine the characteristics shared by... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Community Water System; Drinking Water; Merger; Consolidation; Resource /Energy Economics and Policy; Q25; Q53. |
| Ano: 2007 |
URL: http://purl.umn.edu/9772 |
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| Pitelli, Mariusa Momenti; Mendonca, Elvino De Carvalho. |
| O presente artigo tem como objetivo estimar, através da metodologia DEA (Análise Envoltória de Dados), as eficiências geradas pelas empresas do setor frigorífico de carne bovina, e verificar se a realização de fusão, a fim de obter economias de escala, pode sempre implicar em eficiência. A hipótese básica desse trabalho é a de que quanto maiores forem as eficiências na operação maior é a probabilidade dessa concentração implicar em queda dos preços dos produtos relacionados e, portanto, aumentar o bem-estar da sociedade. A metodologia foi aplicada a dois tipos de fusões: fusão entre as duas empresas com menores economias de escala e a fusão entre uma empresa totalmente eficiente e outra empresa ineficiente. O resultado obtido, sob RVE, para o primeiro tipo... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Análise envoltória dos dados (DEA); Ganhos de eficiência; Fusão; Data Envelopment Analysis (DEA); Gains of efficiency; Merger; Agribusiness; Livestock Production/Industries. |
| Ano: 2008 |
URL: http://purl.umn.edu/109204 |
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