Mergers and Acquisitions by Digital Technology Giants

Name: Mergers and Acquisitions by Digital Technology Giants | Three Perspectives on Value Creation
Brand: Nomos
Price: 39.0 EUR
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Three Perspectives on Value Creation

Martin Sternal(Autor*in)

Nomos (Verlag)

1. Auflage

Erschienen am 8. Dezember 2020

183 Seiten

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978-3-7489-1047-3 (ISBN)

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Inhalt

Cover
1 Introduction and Motivation
1.1 Research Topics and Motivation
1.2 Research Goals and Course of Analysis
2 Digital Giants' Mergers and Acquisitions Activity: Drivers of Value Creation and Value Dilution
2.1 Introduction
2.2 Literature Review and Research Hypotheses
2.2.1 Digital Giants' Characteristics and Value Drivers
2.2.2 Value Creation Drivers
2.2.3 Value Dilution Drivers
2.3 Data and Research Methodology
2.3.1 Data Sample
2.3.2 Definition of Variables
2.3.3 Event Study Methodology
2.3.4 Multivariate Regression Methodology
2.4 Empirical Results
2.4.1 Value Creation in Digital Giants' Transactions
2.4.2 Relatedness Effects on Aggregated Level
2.4.3 Related Transactions on Company Level
2.4.4 Unrelated Transactions on Company Level
2.4.5 Robustness Analysis
2.4.6 Analysis of Value Drivers
2.5 Discussion
3 Competitive Dynamics in the Digital Technology Industry: Rival Effects in the Light of Digital Giants' Mergers and Acquisitions Activity
3.1 Introduction
3.2 Literature Review and Research Hypotheses
3.2.1 Digital Giants and Competition in the Digital Technology Industry
3.2.2 Competitive Dynamics and Rival Effects
3.2.3 "Winner-Take-All" Markets and Market Concentration Hypothesis
3.2.4 Competitive Advantages and Efficiency Hypothesis
3.2.5 Potential Targets and Acquisition Probability Hypothesis
3.2.6 Signaling Effects and Growth Probability Hypothesis
3.2.7 Overview of Hypotheses
3.3 Data and Research Methodology
3.3.1 Data Sample and Rival Selection
3.3.2 Definition of Variables
3.3.3 Research Methodology
3.4 Empirical Results
3.4.1 Rival Effects on Direct and Indirect Rivals
3.4.2 Supplemental Analysis of Direct Rivals
3.4.3 Supplemental Analysis of Indirect Rivals
3.4.4 Comparison of Direct and Indirect Rival Effects
3.4.5 Robustness Analysis
3.5 Discussion
4 Dotcom Giants vs. Digital Giants: Two Groups of Leading Digital Technology Players from Different Periods
4.1 Introduction
4.2 Literature Review and Research Hypotheses
4.2.1 The Group of Dotcom Giants
4.2.2 Mergers and Acquisitions and Dotcom Giants
4.2.3 Relatedness Effects and Dotcom Giants
4.2.4 Liquidity Effects and Dotcom Giants
4.2.5 Rival Effects between Dotcom Giants and Digital Giants
4.3 Data and Research Methodology
4.3.1 Data Sample and Rival Selection
4.3.2 Definition of Variables
4.3.3 Research Methodology
4.4 Empirical Results
4.4.1 Value Creation in Dotcom Giants' Transactions
4.4.2 Value Drivers in Dotcom Giants' Transactions
4.4.3 Rival Effects Analysis
4.5 Discussion
5 Overall Conclusion and Contribution
5.1 Summary of Results
5.2 Implications for Research and Practice
5.3 Avenues for Future Research
References
Appendix
Abstract: English Version
Abstract: German Version

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