By Sebastian Burchhardt
Sebastian Burchhardt develops a online game thought version that analyzes the potential behavioral styles of staff in the course of M&A methods and the impression of such styles at the luck of the transaction itself. the result's the improvement of a principal-multi-agent version that permits for endogenous contest access pushed through identification. additionally, the version proposes counsel for functional M&A management.
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Extra resources for Competition with Identity Driven Entry: A Principal Multi-Agent Model on the Success of Mergers and Acquisitions
Vertical mergers tend to be used for relationships along the value chain that can produce cost synergies and R&D advantages. Since conglomerates include only companies that are not competing against each other, they make it possible to enter new business segments. This makes conglomerates an instrument for diversification and enables companies to realize their expansion policies. 3 Motivation for M&A The foregoing chapter set out to draw a clear distinction between the different forms of M&A according to the operational relationships between the companies involved.
In the later course of this thesis, to enable the above described framework to be modeled in a game theory context, an identity economic model will be combined with elements from the contest model literature. Consequently the willingness to enter into competition will become a behavioral prescription that can be addressed by an incentive system. The following chapter will discuss the underlying theoretical framework by focusing on the research stream of motivation and, within that research stream, on the design of incentive systems as the solution to the motivational problem.
Marks, M. , 1986, 36 101 Cf. , 1988, 19 102 Cf. Marks, M. , 1997a, 22 & Cf. Marks, M. , 1997b, 35 ff. 103 Jöns, I. , 2002, 33 104 Cf. Vogel, D. ,2002. 238 105 Cf. Hodapp, M. , 2004, 35 106 Cf. Cartwright, S. , 1996, 29 107 Cf. Napier, N. (1989), 275 108 Cf. Greitemeyer, T. , 2006, 13 f. 99 100 34 retrospectively in order to identify the root causes of M&A that have failed. 110 Many of the above listed reasons make it clear that a main contributor to M&A failure and success is the degree of cultural match between the two organizations.
Competition with Identity Driven Entry: A Principal Multi-Agent Model on the Success of Mergers and Acquisitions by Sebastian Burchhardt