Which motives initiate managers to merge or to acquire other corporations? While there is a long-lasting history of empirical research on MaA in a cross-industry context, our knowledge about industry specific drivers of MaA is more than limited. Given this background, the machinery industry is an attractive segment to address questions on MaA motives a as it is on the one hand a very fragmented industry and on the other hand a bundle of in some parts highly consolidated sub-industries. In his thesis, Mr. Geiger makes an effort to answer the question why firms in the machinery industry follow MaA strategies and how successful they are in their transactions. This is not only a remarkable endeavour because Mr. Geiger uses some hand selected unique datasets, but in particular, because he presents state-of-the-art analyses which are competitive and meet highest international standards. The thesis on hand carefully identifies and addresses open research questions related to MaA strategies in a very specific industry. Its primary objective was to identify MaA motives for different types of companies in various sub-segments of the machinery industry by analyzing stock price and accounting data. Thusly objectifying managerial action allows deriving recommendations for financing practice.This is not only a remarkable endeavour because Mr. Geiger uses some hand selected unique datasets, but in particular, because he presents state-of-the-art analyses which are competitive and meet highest international standards.
|Title||:||Mergers & Acquisitions in the Machinery Industry|
|Publisher||:||Springer Science & Business Media - 2010-11-09|