Kathrin Bösecke Knihy

About ten years ago, the electricity and natural gas markets underwent significant changes as they transitioned from vertically integrated companies to more competitive structures. This shift removed regional monopolies and allowed customers to choose their suppliers, similar to other industries. As demand growth remained relatively low, companies sought additional growth opportunities while responding to competitive pressures, often resorting to mergers, acquisitions, and alliances as strategic solutions. This era of liberalization also marked a time for both national and international collaborations aimed at enhancing competitiveness. The effectiveness of these strategies is critically examined in this study, which utilizes a large data set to identify success factors for business combinations within the utility industry. The findings are particularly relevant for economists analyzing business strategies and for practitioners in finance and the utility sector monitoring market developments. Prof. Dr. Wolfgang Pfaffenberger notes that while research can be challenging, the rewarding outcomes are made possible through the support and encouragement received from various individuals throughout the process.