Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Business
A Theory Of Strategic Mergers, Gennaro Bernile, Evgeny Lyandres, Alexei Zhdanov
A Theory Of Strategic Mergers, Gennaro Bernile, Evgeny Lyandres, Alexei Zhdanov
Research Collection Lee Kong Chian School Of Business
We examine firms’ strategic incentives to engage in horizontal mergers. In a real options framework, we show that strategic considerations may explain abnormally high takeover activity during periods of positive and negative demand shocks. Importantly, this pattern emerges solely as a result of firms’ strategic interaction in output markets. We show that the U-shaped relation between the state of demand and the propensity of firms to merge, documented in past studies, is driven by horizontal mergers in industries that are: (1) relatively more concentrated, (2) characterized by relatively strong competitive interaction among firms, and (3) characterized by relatively low merger-related …
A Sustainable Model For Business Schools, Howard Thomas, Kai Peters
A Sustainable Model For Business Schools, Howard Thomas, Kai Peters
Research Collection Lee Kong Chian School Of Business
The purpose of this paper is to provide insight into the financial models used by business schools, with a specific focus on the cost side of the model. The paper systematically looks at sources of revenue and areas of expenditure under different business school models. The paper finds that the faculty model used by many business schools, with the need to devote significant effort to generate academic publications, is very cost intensive and not efficient. The paper suggests that alternative models can be developed which would make business schools more financially sustainable. While there has been a lot of societal …