Synergy Effects in the Mergers of Collieries

Izabela Jonek Kowalska
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Izabela Jonek Kowalska: Silesian University of Technology, Poland

International Journal of Synergy and Research, 2012, vol. 1, issue 2, 103-122

Abstract: Purpose – The article focuses on measurement and assessment of the direction and scale of synergy effects in the mergers of collieries in the Polish hard coal mining. Design/methodology/approach – The research included 4 mergers of collieries conducted in years 2006-2011. The measurement of synergy effects was made by subtraction calculation between the total and base effect, according to the definition of synergy effects. Findings – Positive synergy effects were achieved in case of two mergers. These were the mergers of collieries in a good or average financial condition and with a favorable conditions for extraction. The effects of merger in one of them were additionally highlighted by the improvement on the market of hard coal. Practical implications – The research conducted allows to assess the mergers realized in the Polish hard coal mining in the frames of industry restructuring. They also constitute a basis for indicating directions of further industrial restructuring using the mergers of collieries. Social implications – In the article there are also issues analyzed concerning employment in the collieries merged. The mergers of mining enterprises aim to mitigate the scale and results of employment restructuring in the Polish mining. Originality/value – The identification of synergy effects in the Polish hard coal mining has not been analyzed so far. The role of such research is currently increasing due to the economic growth on the market of traditional resources and due to the necessity of competitiveness improvement of Polish coal on the global markets.

Keywords: synergy; synergy effects; mergers of collieries; Polish hard coal mining (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (2)

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International Journal of Synergy and Research is currently edited by Agnieszka Sitko-Lutek, Binshan Linn and Zbigniew Pastuszak

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