Exam Questions (50% each)
1) Gili, a Chine car maker, is spending a very large amount of money buying another foreign car producer. According to the theories in this cour, do you think this is a good deal?
好人好事演讲稿Take Chine Geely clo to Volvo acquisition for example, I don't believe it's in the best interest for Chine carmakers.Chine carmaker Geely is said to be in the final spurt to acquire Sweden -bad Volvo Cars from Ford-but analysts are already criticizing the deal.
英语字母教学1. Mergers and acquisitions (abbreviated M&A) is an aspect of corporate strategy, corporate finance and management dealing with the buying, lling, dividing and combining of different companies and similar entities that can help an enterpri grow rapidly in its ctor or location of origin, or a new field or new location, without creating a subsidiary, other child entity or using a joint venture. The distinction between a "merger" and an "acqui
sition" has become increasingly blurred in various respects (particularly in terms of the ultimate economic outcome), although it has not completely disappeared in all situations.
Firstly, the acquisition extend the transaction cost.In economics and related disciplines, a transaction cost is a cost incurred in making an economics exchange or the cost of participating in a market.
A number of kinds of transaction cost have come to be known by particular names:
∙ Search and information costs are costs such as tho incurred in determining that the required good is available on the market, which has the lowest price, etc. For
∙ Bargaining costs are the costs required to come to an acceptable agreement with the other party to the transaction, drawing up an appropriate contract and so on. In game theory this is analyzed for instance in the game of chicken. On ast markets and in market microstructure, the transaction cost is some function of the distance between the bid and ask.
∙ Policing and enforcement costs are the costs of making sure the other party sticks to the terms of the contract, and taking appropriate action if this turns out not to be the ca.
2.Ast specificity is a term related to the inter-party relationships of a transaction. It is usually defined as the extent to which the investments made to support a particular transaction have a higher value to that transaction than they would have if they were redeployed for any other purpo. Ast specificity has been extensively studied in a variety of management and economics areas such as marketing, accounting, organizational behavior and management information systems.
Multidimensionality
Scholars have acknowledged the multidimensional property of ast specificity. For example, Williamson (1983) identified four dimensions of ast specificity:勃朗特
∙ Site specificity, e.g. a natural resource available at a certain location and movable only at great cost;
∙ Physical ast specificity, e.g. a specialized machine tool or complex computer system designed for a single purpo;
∙ Human ast specificity, i.e., highly specialized human skills, arising in a learning by doing fashion; anddeduct
∙ Dedicated asts, i.e. a discrete investment in a plant that cannot readily be put to work for other purpos.
Malone et al. (1987) made an important addition to the above list:
∙ 少儿英语培训哪家好Time specificity, an ast is time specific if its value is highly dependent on its reaching the ur within a specified, relatively limited period of time.i e you是什么意思
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Joskow (1988) pointed out that the different categories point to esntially the same phenomenon, but that it is instructive in empirical analys to treat each category distinctly. Joskow's ries of papers have looked at contract structuring in order to examine how contracts mitigate transaction costs inherent in a market bad relationship
Zaheer and Venkatraman (1994) acknowledge four ast specificity dimensions: site, human, physical, and dedicated asts. In addition, they define two dimensions of ast specificity in their study: human ast specificity and the newly-developed "procedural ast specificity", where
∙ Human ast specificity deals with the degree to which skills, knowledge and experience of the agency's personnel are specific to the business process.英语六级听力mp3
∙ Procedural ast specificity incorporates notions of human ast specificity and refers to the degree that an agency's workflows and process are customized to exploit the other party's capabilities.
Most theoretical work focus on the relationships between ast specificity and sunk cost effects, transaction costs, vertical integration, and uncertainties.shining friends
3.Compare with outsourcing
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