Why do sustainable mergers fail to manage entrepreneurship?

9 p.This paper proposes a conceptual model using four failed mergers (Federated -Fingerhut, KCPL and Western Resources, Daimler–Chrysler and Alcatel–Lucent) and distinguishes two types of dimensions: type of failure (tangible and intangible) and degree of failure (fixable and unfixable). Using case studies as a research strategy and focusing on the Alcatel–Lucent merger, as an example of an idiosyncratic type of “merger of equals”, the model identifies the entrepreneurial conflict variable as a missed step for obtaining a sustainable merger process over time

Challenges and opportunities managing “Breenfield” Assets – A case study from Norwegian Continental Shelf

This thesis examines the challenges and opportunities in managing "Breenfield" offshore energy assets during Mergers and Acquisitions in the Norwegian Continental Shelf (NCS). The study aims to analyze the dynamics of managing these assets based on existing standards, evaluate the challenges specific to the NCS, and explore methods to address these challenges during mergers and acquisitions. Key findings reveal that organizational aspects, personnel competence, and cultural differences are the primary challenges in the O&M context. Successful integration requires careful planning, consistent governance, standardization, and effective communication. Addressing personnel and organizational aspects, rather than relying solely on technology, is very important for a smooth transitioning. In addition, challenges include managing organizational changes, regulatory compliance, and harmonizing operational practices, necessitating effective communication, change management, and risk assessment. This research contributes to asset management by uncovering challenges and opportunities in managing "Breenfield" assets, filling a literature gap in offshore energy asset management during mergers and acquisitions. It also identifies best practices for future scenarios, promoting successful outcomes and a sustainable energy industry. Despite its contributions, this study has limitations, including limited relevant literature, a focus solely on the NCS offshore energy industry, confidentiality constraints, and a narrow focus on "Breenfield" assets. The research employed qualitative methods, including case study research, literature review, and report analysis. Overall, this thesis provides insights into managing "Breenfield" assets during offshore energy mergers and acquisitions. It aims to enhance asset management practices, improve efficiency, and facilitate successful integration in the energy sector, benefiting professionals, decision-makers, and future researchers

Corporate social responsibility reporting in Mexico: local and global dimensions

This thesis investigates corporate social responsibility reporting in Mexico. It is built across three studies. First, we analysed the content and semantic properties of annual reports, sustainability reports and corporate websites of 73 Mexican and foreign companies operating in Mexico to describe the extent to which these companies disclose their corporate social responsibility. Second, with the data gathered in the first study, we built thirteen disclosure scores to explore whether corporate governance and corporate social responsibility reporting in annual reports can be seen as complementary mechanisms used by companies to enhance relations with stakeholders. Third, we conducted an in-depth case study of a Mexican company acquired by a multinational company; we analysed the sustainability reports and news items during the time prior to and after the purchase to investigate the changes in corporate social responsibility reporting as a result of the acquisition. Our study contributes to the scarce literature exploring corporate social responsibility reporting in Mexico and adds to the methodological research in the field by conducting a survey of corporate social responsibility reporting across industries and reporting media and by utilising a content analysis approach of considerable measurement detail. We provide empirical evidence to previous literature suggesting that foreign ownership may have a positive impact on themes of disclosure such as the environment, but have a negative impact on community. We also contribute to corporate social responsibility reporting research in the context of mergers and acquisitions, by providing empirical evidence which suggests that company responses in the form of corporate social responsibility disclosure to institutional pressures consider both stakeholders salience and business culture

Performance assessment of product service system from system architecture perspectives

New business models in complex engineering products have favoured the integration of acquisition and sustainment phases in capability development. The product service system (PSS) concept enables manufacturers of complex engineering products to incorporate support services into the product's manufacturing and sustainment lifecycle. However, the PSS design has imposed significant risks to the manufacturer not only in the manufacture of the product itself, but also in the provision of support services over long period of time at a predetermined price. This paper analysed three case studies using case study research design approach and mapped the service elements of the case studies to the generic complex engineering product service system (CEPSS) model. By establishing the concept of capability distribution for a PSS enterprise, the capability of the CEPSS can be overlaid on the performance-based reward scheme so that decision makers evaluate options related to the business opportunities presented to them

Efficiency Gains from Mergers

The purpose of this discussion paper is to contribute to the analysis of two questions. Should a merger control system take into account efficiency gains from horizontal mergers, and balance these gains against the anti-competitive effects of mergers? If so, how should a system be designed to account for efficiency gains? The report is divided into five separate parts. The discussion paper is based on a report to the European Commission. To help answer the two questions we start with an extensive review of the relevant economic research, including both theoretical and empirical work. Next, we review the current practice in seven O.E.C.D. jurisdictions. Finally, we propose a merger control system, emphasizing the central role of informational limitations. Based on our conclusions from the empirical literature that efficiencies may need to be assessed on a case-by-case basis, we construct an information-economizing two-stage decision framework for evaluating mergers. In a first stage, notified mergers are assessed using routine tools with modest information requirements. Mergers that do not pass the first stage test are subject to further investigation, including an efficiency defence. ZUSAMMENFASSUNG - (Effizienzgewinne von Unternehmenszusammenschlüssen) Das Diskussionspapier leistet einen Beitrag zur Analyse von zwei wettbewerbspolitischen Fragen: Sollen im Rahmen der Fusionskontrolle Effizienzgewinne horizontaler Zusammenschlüsse berücksichtigt und den wettbewerbsbeschränkenden Wirkungen gegenübergestellt werden? Und, falls ja, wie sollten diese Effizienzgewinne im Kontrollprozess berücksichtigt werden? Grundlage für das Diskussionspapier ist ein Gutachten, das für die Europäische Kommission erstellt wurde. Die Untersuchung beginnt mit einer ausführlichen Darstellung der relevanten ökonomischen Forschung. Dabei werden sowohl theoretische als auch empirische Arbeiten berücksichtigt. Anschließend wird die gegenwärtige Praxis der Fusionskontrolle in sieben OECD-Ländern erörtert. Auf Basis der gewonnenen Erkenntnisse wird schließlich ein Verfahren für die Analyse von Unternehmenszusammenschlüssen vorgeschlagen. Das vorgeschlagene Verfahren greift die empirische Erkenntnis auf, daß Effizienzgewinne nicht generell aber fallweise von Bedeutung sein können. Es wird ein zweistufiger Entscheidungsprozess entwickelt, um einerseits die Informationskosten gering zu halten und andererseits die notwendige Präzision des Kontrollverfahrens zu sichern. In der ersten Stufe des Verfahrens prüfen die Wettbewerbsbehörden angemeldete Fusionen anhand von Standardkriterien mit geringen Informationsanforderungen. Nur solche Fusionen, die diesen Test nicht bestehen, werden dann in einer zweiten Stufe einer genaueren Analyse unterzogen, bei der Effizienzgewinne berücksichtigt werden.

Competition Policy and Innovation

We briefly review the rationale behind technological alliances and provide a snapshot of their role in global competition, especially insofar as it is based around intellectual capital. They nicely illustrate the increased importance of horizontal agreements and thus establish the relevance of the topic. We move on to discuss the organisation of industries in a dynamic context and draw out consequences for competition policy. We conclude with an outlook on the underlying tensions between technology alliances, competition policy, and industrial policy.competition policy; innovation; alliances; industrial policy