Merge or Fail? The Determinants of Mergers and Bankruptcies in Switzerland, 1995-2000

Stefan Buehler, Christian Kaiser (christian.kaiser@unisg.ch) and Franz Jaeger (franz.jaeger@unisg.ch)
Additional contact information
Christian Kaiser: University of St. Gallen
Franz Jaeger: University of St. Gallen

No 506, SOI - Working Papers from Socioeconomic Institute - University of Zurich

Abstract: This paper examines the determinants of mergers and bankruptcies, using firm level data from the Swiss Business Census and the Dun & Bradstreet exit database for Switzerland (1995-2000). Employing duration analysis, we find considerable differences in the determinants of mergers and bankruptcies, in particular with respect to firm size, location and the impact of macroeconomic conditions. Our results support the notion that mergers are often undertaken to seize growth opportunities.

Keywords: merger; bankruptcy; failure; survival; exit (search for similar items in EconPapers)
JEL-codes: C41 L10 L20 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2005-03
New Economics Papers: this item is included in nep-ent and nep-tid
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Citations: View citations in EconPapers (5)

Published in Letters 90(1), 2005, pages 88-95

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https://www.zora.uzh.ch/id/eprint/52203/1/wp0506.pdf First version, 2005 (application/pdf)

Related works:
Journal Article: Merge or fail? The determinants of mergers and bankruptcies in Switzerland, 1995-2000 (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:soz:wpaper:0506

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