Farschtschian The Secret of Successful Acquisitions

Abandoning the Myth of Board Influence
1. Auflage 2011
ISBN: 978-3-593-41110-1
Verlag: Campus
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Deutsch, 250 Seiten

Reihe: Edition-Malik

Daimler-Benz, Commerzbank, Vodafone haben es getan: Sie haben fusioniert oder ein anderes Unternehmen übernommen. Fusionen wie die von Daimler Benz mit Chrysler und Übernahmen wie die der Dresdner Bank durch die Commerzbank sind aus der Wirtschaft nicht mehr wegzudenken. Farsam Farschtschian beschreibt, wie erfolgreiche Methoden im Bereich Mergers & Acquisitions im Unternehmen implementiert und umgesetzt werden können. Der Leser erfährt, wie er im Bereich M&A effektiver wird und bessere Akquisitionsraten erzielen kann.

Dr. Farsam Farschtschian is an Investment Advisor at Morgan Stanley in London, covering German speaking Europe. He holds a PhD degree in Business Administration from the University of St.Gallen and is a Research Associate at its IFPM Centre of Corporate Governance. Farsam Farschtschian first wrote about his empirical findings in his thesis 'The Role of Boards in Directing and Controlling Acquisitions' in 2010. Previously, he studied at the Universities of Geneva and Berkeley and holds a master's degree in Political Science with a focus on International Relations.

Autoren/Hrsg.

Farschtschian, Farsam

Inhaltsverzeichnis

1;Table of Contents;8
2;German preface for editionMALIK;10
3;Preface by Helmut Maucher;12
4;Acknowledgements;14
5;1. From Abandoning the Myth to theRequired »Leadership Environment«;16
5.1;1.1 Abandoning the Myth;16
5.2;1.2 Required »Leadership Environment«;17
5.3;1.3 Two Polar Opposite Key Case Studies: an Introduction;18
6;2. The Key Facts of Corporate Governance;19
6.1;2.1 Introduction to Corporate Governance;19
6.2;2.2 An Agency Perspective;20
6.3;2.3 Whose Interests Are Served?;21
6.4;2.4 A Third Approach;23
6.5;2.5 Boards of Directors Come into Play;25
7;3. The Key Facts of M&A;33
7.1;3.1 Developments in M&A Analysis;36
7.2;3.2 Approaches to Acquisition Success;41
7.3;3.3 Normative Approach to M&A: Peter Drucker’s AcquisitionSuccess Factors;44
8;4. Prime Examples of Good and BadAcquisition Management;52
8.1;4.1 Board Management Background of the Case Studies;52
8.2;4.2 Important Background Information aboutthe Case Studies;54
8.3;4.3 Remarks about the Period of Focus in the Two CaseStudies: the Era of Chairmen During the Period ofAcquisitions;55
8.4;4.4 Best Case Scenario: Nestlé;55
8.5;4.5 Worst Case Scenario: Swissair;87
9;5. Lessons Learned About an Optimal»Leadership Environment«;111
9.1;5.1 Comparing Nestlé and Swissair Acquisitions UsingDrucker’s Framework;111
9.2;5.2 Creating an Environment that Enables the AcquisitionPrinciples to be Successfully Implemented: A ComparativeAnalysis of the Case Study Boards;129
10;6. Twelve Best Practice Recommendationsfor Boards;136
10.1;6.1 Creation of a »Leadership Environment« Which Enablesthe Acquisitions Principles to be Fulfilled;136
10.2;6.2 A Dynamic Board-Management Relationship;146
10.3;6.3 Summary;152
11;7. Conclusion;154
11.1;7.1 Outlook: The Changing Nature of M&A;154
11.2;7.2 Current Corporate Governance and Future Challenges;158
12;Discussion Partners;164
13;Bibliography;166
14;Index;178

Über Autor(innen)

Dr. Farsam Farschtschian is an Investment Advisor at Morgan Stanley in London, covering German speaking Europe. He holds a PhD degree in Business Administration from the University of St.Gallen and is a Research Associate at its IFPM Centre of Corporate Governance. Farsam Farschtschian first wrote about his empirical findings in his thesis "The Role of Boards in Directing and Controlling Acquisitions" in 2010. Previously, he studied at the Universities of Geneva and Berkeley and holds a master's degree in Political Science with a focus on International Relations.