David boucher and paul kelly, the social contract from hobbes to rawls routledge, 1994 jonathan wolff, an introduction to political philosophy oup, 1996 jean hampton. Culture and integretion problems in international mergers and. Jean hampton wrote in hobbes and the social contract tradition that the individuals rights are surrendered to the. Mergers and acquisitions essay sample sample essays. Real merger policy must inevitably fall well short of this ideal for three important reasons. Research points to culture clashes, the impact of changes in leadership, the loss of key employees, and other related. The leviathan political science bibliographies in harvard style.
Pdf the university of eastern finland was established through a merger at the beginning of the year 2010. Everyday low prices and free delivery on eligible orders. Hobbes and the social contract tradition jean hampton. Hobbes is skeptical that a government or any authority would have any impact on changing the state of nature hampton 23. Learn vocabulary, terms, and more with flashcards, games, and other study tools.
Hampton, however, is concerned to accomplish more than a description or explication of hobbes s political philosophy. Professor kraus argues that the attempts by these three philosophers to use hobbes to answer current political and moral questions fail. This is because hobbes thought that any preferences the satisfaction of which are inconsistent with the achievement of ones longterm selfpreservation are irrational. Hobbes and the social contract tradition jean hampton this major study of hobbes s political philosophy draws on recent developments in game and decision theory to explore whether the thrust of the argument in leviathan, that it is in the interests of the people to create a ruler with absolute power, can be shown to be cogent. This paper provides a small summary of social contract theory by hobbes, locke and rousseau. The aggregate implications of mergers and acquisitions joel m. In his reply to the foole, hobbes emphasizes the threat of withholding a specific form of cooperation membership in the commonwealth. Hr considerations in mergers and acquisitions subject. Hobbes and the social contract tradition jean hampton on. The merger will provide the path to improved compensation and benefits for employees. Baumgold, the traditional view, which linked hobbes to arbitrary despotism. In 1999, companies filed a record 4,700 hartscottrodino filings, about three times the number received in 1995.
The contribution of merger control to the definition of harm. Bridgehampton national bank acquires hamptons state bank in. There are different types of mergers and acquisitions. Merger, acquisition, and international strategies in todays business world, distinction and uniqueness in which business is carried out is very fundamental to the success of the business itself.
John rawls believed himself to be working in this tradition. That loss of the commonwealth, with its external enforcement mechanism, is the ultimate threat yielded in hobbes s reply clearly indicates that he does not think the uncoordinated threat of withdrawal of cooperation by individuals is a sufficiently. In essay 2, entitled effect of target csr on acquisition premium, i examine how a target firms corporate social responsibility csr and social irresponsibility csir ratings affect the premium that acquirers pay for the target. Comparison locke and hobbes social contract theories had different ideas about the state of nature. Hobbess theory of rights 12nov07dp university of kent. Political philosophy, thomas hobbes, leviathan political science bibliographies in harvard style. Following this suggestion, it would be prudent to not only to enable pre merger investigation such as due diligence, but also by planning prior to the merger, a task force dedicated to integrating all operational functions within both business entities. The inclusion of cash flows that are incremental to the decision. We often read in newspapers about mergers or acquisitions going on a regular basis.
Types of mergers legal definition of types of mergers. Mergers are a common phenomenon in the business world despite statistics showing the high failure rates of mergers. Review article games with llobbes hobbes and the social contract tradition. Topic 3 reading list shahrur, husayn 2005, industry structure and horizontal takeovers. Merger, acquisition, and international strategies research. Authorization and political authority in hobbes project muse. The social contract tradition and the question of political legitimacy. Identify specific legal and ethical issues that should be considered before, during, and after the merger. Lockean contract theory and modern representative democracy share the root idea, she argues, that rulers are hired by the people for. We analyze the optimal policy of an antitrust authority towards horizontal mergers when merger proposals are endogenous and fir. Hobbes, and mixed government in the english civil wars, oxford. Cambridge university press, cambridge 1988, isbn 05268278. During any merger or acquisition effort, there are at least two groups of employees involved, often coming together with distinctly different cultures and styles. The moral and political theory of thomas hobbes, oxford.
The merger took place in mid 1999s and the effect was the alpha bank. Hampton, hobbes and the social contract tradition cambridge. The aggregate implications of mergers and acquisitions. A study in law and ethics is a good example of how hegelians could foresee the growth of a worldwide sense of obligation, and d. Normativity and projection in hobbess leviathan jstor. Cambridge core political theory hobbes and the social contract tradition by jean hampton skip to main content accessibility help we use cookies to distinguish you from other users and to provide you with a better experience on our websites. Pdf at least from benthams time, the dominant interpretive. Hobbes and the social contract tradition 1986 cambridge university press cambridge cambridgeshire. Pdf draft of the received hobbes, essay in a new edition of. Merger policy with merger choice american economic association.
Hobbes leviathan, lockes second treatise of government, and rousseaus the social contract hobbes 1988. Employers now recognize that human resource issues are the primary indicator of the success or failure of a deal. Publication date 1986 topics hobbes, thomas, 15881679 contributions in political philosophy, political science history, political science philosophy, social contract publisher. Merger, corporate combination of two or more independent business corporations into a single enterprise, usually the absorption of one or more firms by a dominant one. Jean elizabeth hampton june 1, 1954 april 2, 1996 was an american political philosopher, author of hobbes and the social contract tradition, political philosophy, the authority of reason, the intrinsic worth of persons and, with jeffrie g murphy, forgiveness and mercy. The calculations would be adjusted to reflect imperfections in information that might distort the actions of buyers or sellers. Merger and acquisition has no significant effect on asset growth. Impact of mergers and acquisitions on employee morale. Commentators of hobbes political theory are divided between those who argue that the state of nature is caused by competition and distrust rationality account of conflict and those who affirm that it is caused by the fight for glory passions account of conflict. Secretary of state offices click here for links to the secretary of state offices of several states.
Review of related literature conceptual framework definition of merger the term merger, refer to the combination of two or more organizations into one larger organization. The opinions expressed in this article are solely those of the. Graduate association of students in philosophy at the university of kansas. Hobbes and the social contract tradition by hampton, jean. Their use of decision theoretic models to explain hobbes s arguments makes the question of whether hobbes took all voluntary action to spring from selfinterest no longer crucial to their showing that hobbes s ethics is based on his moral.
Department of justice doj said the deal would harm the competitiveness of. The states of nature in hobbes leviathan gregory b. In order to have a better understanding of the corporate culture mismatches issues, we. But executives who have been through the merger process now recognize that in todays economy, the management of the human side of change is the real key to maximizing the value of a deal. People issues in mergers issues in private and acquisitions. Mergers, acquisitions, and other changes to the corporate structure links to helpful web pages downloadable forms links to helpful web pages state corporation law click here for links to the corporate law statutes of several states. Start studying 10 friendly mergers and acquisitions. The contribution of merger control to the definition of harm to competition. The first building block of hobbess early social ontology is the idea discussed in section. Political philosophy dimensions of philosophy 1st edition. Effects of merger on rival firms effects of merger on suppliers and customers some implications for antitrust policy team project presentation. With reference to many european examples of m and as, rene olie of limburg university explores various obstacles to merger success and develops a dynamic model of merger stability. Hobbes, the state of nature and the laws of nature. Name 1 name course date comparing locke and hobbes.
First, industrial organization economics is hardly an exact science. International mergers and acquisitions frequently fail in the integration phase, with cultural differences a major contributory factor. The use of market values in valuing either the new firm. A uk and us perspective sian owen school of banking and finance, university of new south wales may 2006 working paper number 200602 school of banking and finance, the university of new south wales merger waves are an enduring mystery and the search for a single explanation for their. Hobbes, harsanyi and the edge of the abyss certainty and one mixedstrategy equilibrium where column row player avoids with probability k p, as depicted in figure 7. The paper compares john locke and thomas hobbes social contract theories.
Bridgehampton national bank acquires hamptons state bank in merger originally posted. The idea of the social contract goes back at least to epicurus thrasher 20. Identifying issues in facility and provider mergers and. Given hobbes account of human nature in the state of. The limits of hobbesian contractarianism download ebook.
Hobbes and the social contract tradition by jean hampton. Political philosophy, thomas hobbes, leviathan political. Analysis of wealth effects on rivals, suppliers, and corporate customers. The failure of hobbess social contract argument chapter. If human nature is as hobbes describes it, does it follow that life in the state of nature. Almost two thirds of the firms who enter into mergers and acquisitions result into failure, which leads to divestures at a later stage schweiger. Hobbes and the social contract tradition by jean hampton january 1987. It discusses what is the social contract theory and the reason. Pdf on jan 1, 2010, elisabeth ellis and others published draft of.
David boucher, university of swansea, british idealism, the state and international relations, unpublished paper. This event prompted interesting debates on the historical evolution of eu. H0 3 merger and acquisition has no significant effect on gross earnings. The classical contract tradition of hobbes, locke, and rousseau have enjoyed such fame and acceptance as being basic to the development of liberal democratic theory and practice that it would be heretical for any scholar, especially one from the fringes, to critique. Cowboy curtiss cowboy hat company recently completed a merger. Pdf summary of social contract theory by hobbes, locke. This essay argues that it is impossible for men to leave hobbes s state of war because of their nature. Jean hampton this major study of hobbes s political philosophy draws on recent developments in game and decision theory to explore whether the thrust of the argument in leviathan, that it is in the interests of. They may even be able to combine to protect themselves from. Buy hobbes and the social contract tradition new ed by jean hampton isbn. Hamptons state bank has been acquired by bridgehampton national bank in a merger.
A merger may be accomplished by one firm purchasing the others assets with cash or its securities or by purchasing the others. On the other hand, if a number of individuals combine their separate wills. The leviathan political science bibliographies cite. Levine 2002, engaging political philosophy from hobbes to rawls, chapter 1, pp. Among other things, freeman places rawls within historical context in the social contract tradition, and thoughtfully addresses criticisms of this position. The effect of mergers and acquisitions on the performance of. In this essay, i first give a thematic overview of classical social contract theory as articulated in three seminal works. In this sophisticated yet accessible text, hampton neatly synthesizes the classical tradition, the giants of the modern period, the dominant topics of the 20th century, as well as the new questions and concerns that are just beginning to rewrite contemporary political philosophy. Contemporary approaches to the social contract stanford. In the leviathan, men in the state of nature are rational beings and know exactly what they want, seeking the best way to stay alive and prolong their survival. Hampton 1987, hobbes and the social contract tradition, cambridge university press, chapters 12 a. This study investigates the merger effects of two banks.
As the pace of large corporate mergers has increased recently, so too have the reports of concerns by civic leaders about the negative effects of mergers on communities losing corporate headquarters, including a loss of civic leadership, philanthropy, jobs, and investment. Relevance of mergers and acquisition on financial performance. Warrender, the political philosophy of hobbes, his theory of obligation oxford. Project muse reason and ethics in hobbess leviathan. The social contract available for download and read online in other formats. Clarendon press, 1957, although warrender does allow for what he calls entitlements i. As a strategic hr director, you have been asked to identify ethical and legal issues involved in a merger and develop a plan to resolve these issues. Ada270 ih iii h 299 1 form approved hi 1tin page omb no 07040188. The first part investigates the merger in the shortterm, while the second part investigates the longterm effects of the merger exploring the relative. A lack of focus on the consumer is often noted as a contributing factor to these. In its recognizably modern form, however, the idea is revived by thomas hobbes. Professor hampton has written a book of vital importance to political philosophers, political and social scientists, and. The late jean hampton was professor of philosophy at the university of arizona and the author of hobbes and the social contract tradition and many articles on moral and political theory. Hobbes and the social contract tradition book, 1986.
A horizontal merger occurs between or among competitors, and a vertical merger occurs when suppliers, shippers, retailers, and such in a common industry join together. Jean hampton substantiates the view, in gametheoretic terms, in hobbes and the social contract tradition. Attempts to rethink and restate hobbes s political argument in order to understand its failings. Kavka makes more than hampton of hobbes s basic doctrine in ethics. In hobbes and the social contract tradition professor hampton undertakes an extensive examination of hobbes s argument, primarily as stated in leviathan, for the institution of an absolute sovereign. Ritchie in war and peace, international journal of ethics, xi 19001 displays a. Three essay on corporate social responsibility in merger and. The question still remains if it is possible to anticipate the effects of mergers and acquisitions on employee morale and how this can impact the process. This study is a case study about acquisition and merger process, which took place in february 2014, when company x name changed bought three magazines and 42 employees were transferred from company y name changed. Pdf the social contract download full pdf book download. This book is also a great introduction to political philosophy and the author jean hampton is very good at creating an understanding of hobbes by listing both weaknesses and strengths of his argument compared to other famous contractarians of his time such as locke. Jean hampton, hobbes and the social contract tradition. This major study of hobbes s political philosophy draws on recent developments in game and decision theory to explore whether the thrust of the argument in leviathan, that it is in the interests of the people to create a ruler with absolute power, can be shown to be cogent.
As you know, in september last year, we celebrated the iversary. Pdf hobbes and the social contract tradition jean hampton. One way that corporate law and governance achieves that goal is to regulate significant transactions particularly mergers, acquisitions, and restructuring, with an eye towards the two core values. Although a number of factors influence mergers and acquisitions, the market is the primary force that drives them. In jean hampton, hobbes and the social contract tradition 1988, hampton indicates that this quote is after bacon and in a footnote, that hobbes was bacons secretary as a young man and had philosophical discussions with him aubrey 1898, 331. Labeled as either name change or merger endorsement name and address of succeeding company a unique form number in the lower left corner signature of an officer of the company statement that all original terms, conditions, and benefits of the policy will not change minimum font size is 10 point.
Significant implications for public company mergers appear largely ignored by kevin miller kevin miller kevin. Oxford university press 1969 hampton, jean, hobbes and the social contract tradition, cambridge. When valuing the combined firm after the merger, which of the following is an example of the type of common mistake that can occur. This book is the most comprehensive, rigorous critique of contemporary hobbesian contractarianism as expounded in the work of jean hampton, gregory kavka, and david gauthier. Acquisition and merger process through the eyes of employees.