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Mergers and acquisitions in the United States of America are a major strategic means for German companies in their pursuit of becoming global players. The significant volume of such cross-border transactions reflects the firms’ expectations of creating value in the world’s most important consumer market. Did the German acquirers succeed in their transatlantic leap? Bernd Wübben analyzes the success of 87 German mergers and acquisitions in the USA during the period from 1990 to 2004. He begins his assessment with a description of various aspects of the current institutional framework applicable to structuring a cross-border acquisition in the USA. Employing a study of the capital markets’ reaction and a survey of acquirers’ executives, he shows that US transactions on average enhanced value for German companies and their shareholders. The author integrates the findings of both methodologies to identify the determinants of transaction success, including characteristics of the German acquiring and the US target companies as well as of the acquisition structure and management.

Consolidation and merger of corporations --- Finance. --- Finance, general. --- Funding --- Funds --- Economics --- Currency question

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International business enterprises --- International finance --- Entreprises multinationales --- Finances internationales --- Finance --- Finances --- Finance. --- 658.14 --- Financing. Funding of enterprises. Raising of capital --- 658.14 Financing. Funding of enterprises. Raising of capital --- International business enterprises - Finance --- Entreprises multinationales - Finances

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The year-long consultations on Basel II mirror the international popularity of capital requirements as a regulatory instrument. Yet, the impact of capital re­ quirements on banks' behavior is not fully understood. The aim of this study is to contribute to this understanding by answering the following questions: How do banks adjust capital and risk after an increase in capital requirements? How do banks adjust their regulatory capital buffer over the business cycle? And what is the impact of banks' charter value on the regulatory capital buffer? The research undertaken for this study has benefited from support in terms of ideas, research facilities, and, not least, financial funding. My thanks go first of all to Claudia M. Buch for her constant encouragement, her continuous guidance, and her confidence in my research ideas. My thanks go also to the Kiel Institute for World Economics and its staff for providing a very fertile academic ground for my research and for providing excellent research facilities. In fact, conduct­ ing this study would not have been possible without the support of my colleagues at the Kiel Institute and elsewhere. In particular, I am grateful to Horst Siebert for providing me the freedom to pursue this topic. My special thanks go to Jorg Breitung, Kai Carstensen, and Dieter Urban for providing input on econometric issues. I am also grateful to Andrea Schertler for the long and productive discus­ sions I had on various parts of this study.

Finance. --- Macroeconomics. --- Microeconomics. --- Finance, general. --- Macroeconomics/Monetary Economics//Financial Economics. --- Price theory --- Economics --- Funding --- Funds --- Currency question

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Financial law --- Finance --- -346.080941 --- Hc1gbr --- Funding --- Funds --- Economics --- Currency question --- Law and legislation --- -Finance --- Law and legislation. --- -Financial law --- 346.080941 --- Law

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[3rd ed.] For MBA/graduate students taking a course in corporate finance. This Global Edition has been edited to include enhancements making it more relevant to students outside the United States Using the unifying valuation framework based on the Law of One Price, top researchers Jonathan Berk and Peter DeMarzo set the new standard for corporate finance textbooks. Corporate Finance blends coverage of time-tested principles and the latest advancements with the practical perspective of the financial manager. With this ideal melding of the core with modern topics, innovation with proven pedagogy, Berk and DeMarzo establish the new canon in finance. For programs and professors who would like a streamlined book that is specifically tailored to the topics covered in the first one-semester course, Corporate Finance: The Core is also available by Jonathan Berk and Peter DeMarzo.

Corporations --- Finance --- E100190.jpg --- 658.14 --- 658.15 --- Financiering --- 658.15 Private financial management. Financial administration of enterprises --- Private financial management. Financial administration of enterprises --- 658.14 Financing. Funding of enterprises. Raising of capital --- Financing. Funding of enterprises. Raising of capital --- Corporate finance --- Corporations - Finance