Aufsätze Ökonomik

Aufsätze Pädagogik

Aufsätze Sozialethik


Prof. Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.

Abhandlungen über Johann Heinrich Jung-Stilling

Nachtodliche Belehrungen zur Ökonomik

Nachtodliche Belehrungen zu Persönlichkeiten

Nachtodliche Belehrungen zur Philosophie

Nachtodliche Belehrungen zur Theologie

Nachtodliche Belehrungen zu verschiedenen Themen


Conglomerate discount

A phenomenon observed on the stock market in which investors are prepared to pay less for nested companies than the fair value of the individual parts of the group (the fact that a conglomerate is worth less than the sum of its parts). – The reason for this is seen in the fact that – conglomerates generally operate uneconomically: the ratio of costs to performance is usually less favorable than in the case of an unaffiliated company; in other words, they are not “the best host” (there is a poor, a sub-optimal allocation of resources) and – group managements in particular are widely regarded by investors as water-headed entities (bloated machinery) that interfere with group companies to their detriment. – See bank mergers, decentralization principle, Gigabank, group levy, Octopus, cross-subsidization, subsidiarity principle.

Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!
University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: