Mergers and Acquisitions: Definitions, Process, and Objectives
Chapter 13: Mergers & Acquisitions
Definitions
Acquisitions: Purchase of property rights by a buyer of a company, by means of transferring the majority of the shares to the buyer, where the buyer obtains control of the target. Usually, the target company loses legal independence.
Merger: Two firms decide on joint operation and ownership. Often, stocks are withdrawn, and new stocks are issued in their place. True equal mergers are rare. There are several types of mergers:
- Horizontal: The buyer operates
GNP, GDP, and Current Account: Understanding Key Economic Indicators
Lesson 2: Understanding GNP, GDP, and the Current Account
GNP only counts final goods to avoid double accounting.
GNP must equal national income. It measures the production of the national factors of production within the country or abroad.
Human Resource Management: History, Theories, and Planning
Historical Evolution of Human Resources
The relevant facts of the historical evolution of the human resources function are:
- Colonial Period: The rise of parcels and the first strikes.
- Independence: Craft workshops appear.
- Revolution: Workshops appear, which are the factories.
- 1950s: In this decade, the career of industrial relations arises.
- 1960s: Legal methods emerge as an improvement for the defense of the individual.
- 1970s: For the first time, the term “human resource management” was used.
- 1980s: Human
Economic Factors: Demand, Supply, and Public Sector
Factors Affecting Economic Progress
Economic progress is influenced by several factors:
- Internal market forces: Consumption, investment, etc.
- External disturbances: Conflicts, etc.
- Government actions: Fiscal policy, monetary policy, etc.
Aggregate Demand
Aggregate demand represents the total planned expenditure in an economy.
Consumption
Consumption refers to the total expenditure incurred by households on goods and services within a specific period. It depends on:
- Disposable family income.
- Interest rates.
Understanding Key Economic Concepts and Their Implications
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GDP (Gross Domestic Product, Price 고정): Market value of all final goods produced within a country in a given period of time. Transfer Payment (Social Security Payment). Approach Method: 1. Expenditure Method (Y=C+I+G+X-M) 2. Production Method (Value-added Method) 3. Income Method (TR=π+TC). Econ Growth Rate: (Use Real GDP). GNP: GDP + 해외 수취 요소 소득 – 대외 지급 요소 소득 = GDP + 대외 순 수취 요소 소득. GNI: GNP + 교역 조건 변화에 따른 실질 무역 손익
Read MoreCompany Environment and Corporate Social Responsibility
Strategic Company Environment and Responsibility
3.1 The Company and Its Environment
The environment affecting firms can be divided into two categories:
- General Environment (Social): Affects all firms in a given society.
- Specific Environment (Particular): Affects each specific company more directly.
General Environmental Characteristics:
- Culture
- Technological
- Policies
- Legal
- Natural Resources
- Demographic
- Sociological
- Economics
- Education
Specific Environmental Characteristics:
- Customers:
- Distributors of the product.