Les acquisitions patrimoniales

Killer Acquisitions ∗

This article demonstrates that incumbent firms acquire innovative targets to discontinue the development of the targets’ innovation projects in order to preempt future competition. We call such acquisitions “killer acquisitions.” We illustrate the phenomenon using a model with product market competition, innovation, and endogenous acquisition decisions. In our model incumbent firms have incenti...

Homebiased Acquisitions

We show that CEOs exhibit a home bias in acquisitions. Firms are over twice as likely to acquire targets located in their CEOs’ home states than similar targets domiciled elsewhere. The bias is strongest for private targets and when acquirer governance is lax, and these private home deals do not create value, suggesting that CEOs acquire these targets for their own benefits. Unlike typical publ...

Efficient locking for multicore architectures

The scalability of multithreaded applications on current multicore systems is hampered by the performance of critical sections, due in particular to the costs of access contention and cache misses. In this paper, we propose a new locking technique, Remote Core Locking (RCL) that aims to improve the performance of critical sections in legacy applications on multicore architectures. The idea of R...

Les maladies causées par les anaérobies pathogènes sporulés chez les animaux domestiques

Mergers and Acquisitions

 what a merger is and how it differs from an acquisition;  some of the reasons why companies merge;  the underlying merger rationales;  what a merger driver is;  what the primary merger drivers are;  the difference between horizontal integration, vertical integration and conglomeration;  the basic merger lifecycle and lifecycle phases;  some basic measures of success for mergers;  the ...