BiblioVault - Books about Mergers

Competition in the Investment Banking Industry

Samuel L. Hayes, III; A. Michael Spence; and David Van Praag Marks

Harvard University Press, 1983

Investment banks play a critically important role in channeling capital from investors to corporations. Not only do they float and distribute new corporate securities, they also assist companies in the private placement of securities, arrange mergers and acquisitions, devise specialized financing, and provide other corporate financial services.

After sketching the history and evolution of investment banking, the authors describe the structure of the industry, focusing on the competitive forces at work within it today. They explore patterns of concentration and analyze the strategic and economic factors that underlie those patterns. The authors directly examine the pairing up of investment banks with their corporate clients. They show that the market is sharply segmented, with banks and corporate clients being matched in roughly rank order, the most prestigious banks with the largest, most powerful clients, and so on. Vigorous competition occurs within each segment, but much less between them.

With the industry now confronting a changing regulatory environment, a growing tendency of clients to arrange their own financing, and increasing competition both from within and from commercial banks and foreign institutions, Competition in the Investment Banking Industry is essential reading for anyone interested in the future of investment banking.

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Difficult Decisions Closing An D Merging Academic Libraries

Sara Holder

Assoc of College & Research Libraries, 2015

Difficult Decisions

Closing and Merging Academic Libraries

Sara Holder

Assoc of College & Research Libraries, 2015

Mergers and Acquisitions

Edited by Alan J. Auerbach

University of Chicago Press, 1988

Do mergers lead to financial instability? How are shareholders' interests best served? How significant a role do taxes play? What are the implications for the structure and concentration of industry? Mergers and Acquisitions, prepared in an nontechnical format, answers these and other questions that have arisen from the takeover boom that began in the mid-1980s.

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Mergers and Productivity

Edited by Steven N. Kaplan

University of Chicago Press, 2000

Mergers and Productivity offers probing analyses of high-profile mergers in a variety of industries. Focusing on specific acquisitions, it illustrates the remarkable range of contingencies involved in any merger attempt. The authors clearly establish each merger's presumed objectives and the potential costs and benefits of the acquisition, and place it within the context of the broader industry. Striking conclusions that emerge from these case studies are that merger and acquisition activities were associated with technological or regulatory shocks, and that a merger's success or failure was dependent upon the acquirer's thorough understanding of the target, its corporate culture, and its workforce and wage structures prior to acquisition.

Sifting through a wealth of carefully gathered evidence, these papers capture the richness, the complexity, and the economic intangibles inherent in contemporary merger activity in a way that large-scale studies of mergers cannot.

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Mergers of Teaching Hospitals in Boston, New York, and Northern California

John A. Kastor

University of Michigan Press, 2003

If a teaching hospital loses funding, what is the next option?

Mergers of Teaching Hospitals in Boston, New York, and Northern California investigates the recent mergers of six of the nation's most respected teaching hospitals. The author explains the reasons why these institutions decided to change their governance and the factors that have allowed two of them to continue to operate while forcing the third to dissolve after only 23 months of operation.

The case studies contained within this book rely on an impressive amount of research. Notably, instead of citing only published articles and books, the author includes information from numerous, extensive personal interviews with key participants in the various mergers. With this research the author not only presents to the reader a picture of why these mergers came about, but also investigates how the organizations have fared since joining together. The mergers are analyzed and compared in order to identify various methods of merger formation as well as ways in which other newly formed hospitals might accomplish a variety of important goals.

Offering a spectacular account of some of the mergers that occurred in the health care field at the close of the twentieth century, these stories provide insight into academia's relationship with teaching hospitals and the challenges involved in bringing prestigious and powerful medical institutions together. The institutions discussed are Partners, the corporation which includes the Massachusetts General Hospital and the Brigham and Women's Hospital, New York-Presbyterian Hospital, the union of the New York and Presbyterian hospitals in New York City, and the UCSF Stanford, the merged teaching hospitals of the University of California, San Francisco and Stanford. This book will particularly appeal to professionals and academics interested in medicine, business, and organizational studies.

John Kastor is Professor of Medicine at the University of Maryland School of Medicine. From 1984 to 1997, he was Theodore E. Woodward Professor of Medicine and Chairman of the Department of Medicine at Maryland and Chief of the Medical Service at the University of Maryland Hospital. Dr. Kastor is also the author of Arrhythmias.

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The Political Economy of Global Communication

An Introduction

Peter Wilkin

Pluto Press, 2001

Recent debates surrounding human security have focused on the satisfaction of human needs as the vital goal for global development. Peter Wilkin highlights the limitations of this view and argues that unless we incorporate an account of human autonomy into human security then the concept is flawed. He reveals how human security is a concern with social relations that connect people in local, national and global networks of power, structured through capitalism and hierarchical inter-state systems. Autonomy, as an aspect of human security, depends upon the ability of citizens to gain information about the processes that shape their lives. In this respect autonomy and communication are inherently linked and are prerequisites for the establishment of meaningful democratic systems.

To what extent do developments in global communication enhance or undermine autonomy? As the world's media companies continue to merge, we are moving towards an ever more commercially driven system of global information. Wilkin argues that private ownership provides an increasingly powerful obstacle to human autonomy, and that the neo-liberal institutional and policy framework – now a global tendency – raises major problems for the attainment of human security. At the same time it has provided the ideological justification for the extension of private power into ever wider areas of public life. Changes in global communication reflect wider tendencies to enhance the power of global elites at the expense of working people and the author illustrates how and why these changes have taken place and the forms of opposition that have arisen in response to them.

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