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1

M&AS AND PRICE MANIPULATIONS IN CHINA

100%
Cuiping C., Fidrmuc J., Reck F.
Ekonomický časopis (Journal of Economics)
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2021
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vol. 69
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issue 3
223 – 236
EN
In recent years, M&As have become popular among Chinese companies, with many of them receiving a high premium. This paper empirically analyses the motivation of high-premium M&As from the perspective of price manipulations. The sample consists of 1,013 Chinese companies, listed on the Shanghai and Shenzhen stock exchange, and covers the period from 2013 to 2018. Our results indicate that benefit seeking of major shareholders on the costs of minor investors is a key determinant for the merger of companies. In comparison, economic synergy effects are not the predominant factor of M&As. Therefore, legal reforms by the Chinese Market Supervisory Department are necessary to protect smaller investors.
2

AGROPOTRAVINÁRSKY OBCHOD SLOVENSKEJ REPUBLIKY PO VSTUPE DO EURÓPSKEJ ÚNIE

100%
Bartošová D., Bartová Ľ., Fidrmuc J.
Ekonomický časopis (Journal of Economics)
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2007
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vol. 55
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issue 4
327-344
EN
We analyse Slovak imports and exports of selected agro-food commodities between 1996 and 2005. The analysis includes the EU-15, selected new member states and candidate countries (Romania, Bulgaria), the Commonwealth of Independent States (CIS), USA and the rest of world (ROW). We show that the dynamic panel data models are appropriate tools for modelling of the agricultural trade flows. We find positive effects of the accession to the EU on Slovak agro-food export flows to the EU-15 and the other regions, while the Slovak agro-food imports show lower growth dynamic. Thus, the agricultural and food processing sectors in Slovakia have benefited from the gradual liberalization of the agro-food trade after the EU enlargement.
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