Cross-border and domestic megamergers continue to make headlines, but megamergers themselves are not new. What is new is their size, and that they occur across national boundaries. This work explains why these combinations are occurring.

This is a reprint of a previously published work. It deals with the megamerger movement of the 1980s and the scandals that it produced.

We live today in an interconnected world in which ordinary people can became instant online celebrities to fans thousands of miles away, in which religious leaders can influence millions globally, in which humans are altering the climate and environment, and in which complex social forces intersect across continents. This is globalization. In the fifth edition of his bestselling Very Short Introduction Manfred B. Steger considers the major dimensions of globalization: economic, political, cultural, ideological, and ecological. He looks at its causes and effects, and engages with the hotly contested question of whether globalization is, ultimately, a good or a bad thing. From climate change to the Ebola virus, Donald Trump to Twitter, trade wars to China's growing global profile, Steger explores today's unprecedented levels of planetary integration as well as the recent challenges posed by resurgent national populism. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

A casebook that discusses all the mega mergers and acquisitions in terms of value, that have happened in different industry sectors such as pharmacy, technology, telecommunications, media and entertainment, electrical and electronics, energy, finance, consumer goods, metals, and automobile and airlines.

When emerging economies draft competition law and begin to enforce it, they usually draw on the EU and US competition law systems. However, significant country-specific legal and practical variations tend to arise quickly, making it imperative for international business lawyers to acquire more than a passing knowledge of competition legislation and relevant case law in these countries. Now for the first time a thoroughly researched book provides an in-depth empirical analysis of the legal problems raised for competition, and especially for merger control and its enforcement, in emerging economies, using a case study approach in the Brazilian and Argentinean contexts to reveal paradigmatic trends. Brazil and Argentina are chosen not only because they are among the major trading jurisdictions in the developing world, but also because they have each established a track record of over a decade in formulating and enforcing a system of merger control. The author describes and analyses all Brazilian and Argentinean legislation in the field of competition law, as well as the main merger decisions adopted by the competition authorities and the judgements held by the courts of these countries. The book thoroughly covers the system of competition law currently enforced in each country, as well as the main innovations of proposed new competition law currently pending in Brazil. In addition, the author draws on field interviews with competition lawyers and officers of competition authorities conducted between April and July 2008 in Buenos Aires, Brasilia, and São Paulo. The analysis considers such issues as the following: y impact of M & As on the level of competition in the markets of developing countries; y enforcement of competition law and the judiciary; y criteria for notification of economic concentrations; y application of econometric tests to define the relevant market and the degree of market concentration.

John Sutton sets out a unified theory that encompasses two major approaches to studying market, while generating a series of novel predictions as to how markets evolve. Traditionally, the field of industrial organization has relied on two unrelated theories—the cross-section theory and the growth-of-firms theory—to explain cross-industry differences in concentration and within-industry skewness. The two approaches are based on very different mathematical structures and few researchers have attempted to relate them to each other. In this book, John Sutton unifies the two approaches through a theory that rests on three simple principles. The first two, a "survivor principle" that says that firms will not pursue loss-making strategies, and an "arbitrage principle" that says that if a profitable opportunity is available, some firm will take it, suffice to define a set of possible outcomes. The third, the "symmetry principle," says that the strategy used by a new entrant into any submarket depends neither on the entrants identity nor on its history in other submarkets. This allows researchers to bring together the roles of strategic interactions and of independence effects. The result is that the considerations motivating the cross-section tradition and those motivating the growth-of-firms tradition both drop out within a single game-theoretic model. This book follows Sutton's Sunk Costs and Market Structure, published by MIT Press in 1991.

For many years to come this volume. . .is surely going to be the ultimate reference work on international business. . . thanks to Dunning and Lundan, have at their disposal, a wealth of relevant data, as well as theoretical and empirical analyses, which will enable them to assess the capabilities, contributions and challenges posed by the multinational enterprises to the global economy. Seev Hirsch, International Business Review Multinational Enterprises and the Global Economy has become a classic in international business. . . Yet , the book s second edition is even better than the first, in part because of Professor Dunning s wise decision to choose Dr Lundan as his co-author and to draw upon her deep knowledge of various strands of research on business government relations and the societal effects of firm behaviour. . . In addition to being a remarkably useful reference book, Multinational Enterprises and the Global Economy is the first book any IB doctoral student should read to understand the significance and richness of IB scholarship as it has developed over the past 50 years. Alain Verbeke, Journal of International Business Studies The second edition of Multinational Enterprises and the Global Economy provides unparalleled coverage not only of the literature relevant to IB research but also of the evolution of IB in the world economy. Dunning and Lundan offer powerful insights into the societal effects of MNEs and the role of business government relations in the IB context. Journal of International Business Studies This wonderful book offers the definitive synthesis of the modern literature on the economic aspects of international business. It is encyclopedic yet full of incisive insights. It is a creative masterpiece which unbundles the DNA of the multinational enterprise and shows how it is the cornerstone of the field of international business. Alan M. Rugman, University of Reading, UK The rise of the multinational enterprise, and the consequent globalisation of the world economy, was arguably the single most important phenomenon of the second half of the twentieth century. This magisterial book, written by two leading authorities, examines this phenomenon in depth. It explains how foreign investment by multinationals diffused advanced technologies and novel management methods, driving productivity growth in Europe, Asia and North America; however, economic inequalities were reinforced as rich countries attracted more foreign investment than poor ones. This new edition of a classic work is not only an authoritative guide to contemporary multinational business, but a major historical resource for the future. Mark Casson, University of Reading, UK This thoroughly updated and revised edition of a widely acclaimed, classic text will be required reading for academics, policymakers and advanced students of international business worldwide. Employing a distinctive and unified framework, this book draws together research across a range of academic fields to offer a synthesis of the determinants of MNE activity, and its effects on the economic and social well-being of developed and developing countries. Unique to the new edition is its focus on the institutional underpinnings of the resources and capabilities of MNEs, and the role of MNE activity in transmitting and facilitating institutional change. Since the initial publication of this book more than a decade ago, the economic, managerial and social implications of globalisation and technological advancement have become even more varied and prominent. Accompanying these developments, there has been a rise in scholarly interest in interdisciplinary research addressing the important challenges of an ever-changing physical and human environment. Drawing on articles and books from international business and economics, as well as economic geography, political economy and strategic management, a systematic overview of the developments in scholarly thinking is prese

About the Book This book does not take a neutral stand on the issue of mass unemployment. It is an effort to expose capitalism's most outrageous feature - its compulsive need to use unemployment and the fear of unemployment to ensure the docility and subservience of its workers. Under the capitalist system, the stick of the fear of unemployment is necessary to keep workers' noses to the grindstone and make them perform to the satisfaction of their employers. The stick is needed because much work is boring, the carrot paid is less than a living wage, provides workers very little or no control over the work process, and stifles creativity - in short because the total carrot offered to numerous workers is so woefully inadequate. Under a different system, one in which working people participated fully in the decisions affecting what, how and for what purpose goods and services were produced; if we had a system based on economic democracy, there would be no need to use the stick of the fear of unemployment. The creativity of most of the millions of working people, now mostly dormant, would be awakened and the volume and quality of improvements and inventions especially in housing, energy, transit systems and health care would be so great as to tower high above and completely overshadow the number and purpose of the innovations created under the present system. The issue of unemployment is shrouded in half-truths and outright lies. As a result, there is almost total ignorance about the real causes of unemployment and worse still, about its very serious consequences. Many claim that there are enough jobs but that the unemployed are lazy and would rather be on welfare. While this may be true of a very small fraction of the unemployed, it is not true of the overwhelming majority. There have been numerous instances in which whenever advertisements calling for applicants for relatively well-paid jobs or for jobs that paid better than the minimum wage, the number of applicants that applied for those jobs were ten or more times greater than the number of jobs that were advertised. In September 26th of 1984, to mention just one instance, the Associated Press News Agency reported that "50,000 people lined up for 350 jobs." The report went on to say that "the applicants, some of whom waited in line for two days, hope to land a longshoreman's job paying $15.45 an hour or a marine clerk's job earning $17.45 an hour... However the fact that only 350 jobs are currently available didn't dismay the crowd, which queued up in a line in the San Pedro district [of Los Angeles] that stretched for 13 mile..." Clearly, the majority would rather have gainful employment at a living wage and live a life of dignity and integrity. Furthermore apart from the simple need to earn a living, productive employment is an indispensable part of the psychological makeup of human beings. Simply put, people want to feel useful. Prolonged joblessness is a serious threat to a person's self-esteem and destroying that self-esteem has appalling consequences. The ugly truth is that the system under which we live will not or cannot provide jobs for those who need them. The business class is simply not interested in full employment because mass unemployment provides them with many benefits. Among those benefits: a large pool of unemployed workers drives down the wages employers have to pay.

Today's corporate deal makers face a conundrum: Though 70% of major acquisitions fail, it's nearly impossible to build a world-class company without doing deals. In Mastering the Merger, David Harding and Sam Rovit argue that a laserlike focus on just four key imperatives--before executives finalize the deal--can dramatically improve the odds of M&A success. Based on more than 30 years of in-the-trenches work on thousands of deals across a range of industries--and supplemented by extensive Bain & Co. research--Harding and Rovit reveal that the best M&A performers channel their efforts into (1) targeting deals that advance the core business; (2) determining which deals to close and when to walk away; (3) identifying where to integrate--and where not to; and (4) developing contingency plans for when deals inevitably stray. Top deal makers also favor a succession of smaller deals over complex "megamergers"--and essentially institutionalize a success formula over time. Helping executives zero in on what matters most in the complex world of M&A, Mastering the Merger offers a blueprint for the decisions and strategies that will beat the odds.