Gärtner, Dennis L.; Halbheer, Daniel - Institut für Strategie und Unternehmensökonomik … - 2008
This paper investigates the merger wave hypothesis for the US and the UK employing a Markov regime switching model. Using quarterly data covering the last thirty years, for the US, we identify the beginning of a merger wave in the mid 1990s but not the much-discussed 1980s merger wave. We argue...