This paper proposes an explanation as to why some mergers fail, based on the interaction between the pre … integration efforts, counting on the partners to adapt. We explain why mergers among partners with closer corporate cultures can …

This paper analyzes the effects of mergers around the world over the past 15 years. We utilize a large panel of data on … mergers to test several hypotheses about mergers. The effects of the mergers are examined by comparing the performance of the … that mergers on average do result in significant increases in profits, but reduce the sales of the merging firms …

We explain the empirical puzzle why mergers reduce profits and raise share prices. If being an "insider" is better than … mergers occur, when they occur, and how the surplus is shared. <br> <br> <i>ZUSAMMENFASSUNG - (Warum Fusionen Profite …

that it is beneficial to be a non-merging rival firm to a large horizontal merger. Using a sample of mergers with expert …

that it is beneficial to be a non-merging rival firm to a large horizontal merger. Using a sample of mergers with expert …

expected gains at the time of merging, these mergers turn out to be less efficient in the long term-a finding that is broadly …

We use a sample of 167 mergers during the period 1990-2002 involving 544 firms either as merging firms or competitors …. We contrast a measure of the merger’s profitability based on event studies with one based on accounting data. We find …

merging and rival firms’ stocks to quantify the profitability effects of mergers and merger control decisions. We back up our … results and methodology by using alternative measures for the merger’s profitability effects based on balance-sheet data and … mergers during the first investigation phase. Yet, they are on the whole ineffective or even detrimental when applied after …