generated by the growth in firm size consequent upon the merger. This is consistent with the view that mergers reveal …This Paper examines the impact of mergers and acquisitions on the remuneration of the CEOs in a large unbalanced panel … times more sensitive to internal growth than to growth as a result of acquisition. Furthermore, there is some evidence that …

This work presents an equilibrium model of diversification through merger formation. Due to moral hazard problems … funds) by either merging, employing a monitor or a combination of the two. Within this setting, the effects on merger … squeezes are analyzed. The main results are that diversifying merger activity increases during times of economic expansion and …

search sequentially for satisfactory deals. In the pre-merger symmetric equilibrium, consumers visit firmsrandomly. However …, after a merger, because insiders raise their prices more than the outsiders, consumers start searching for good deals at the … costs go up, consumer traffic from the non-merging firms to the merged ones decreases and eventually mergers become …

endogenous rather than exogenous merger theory. More surprisingly, our data suggests that fairness (or relative performance … profitable merger does not occur, because it is even more profitable for each firm to unilaterally stand as an outsider (Stigler …) considerations also make profitable mergers difficult. Mergers that should occur in equilibrium do not, since they require an unequal …

greatly exacerbated by entry costs or bidding costs. We discuss applications to airwaves auctions and takeover battles … including the Glaxo-Wellcome merger. …

standard results on the effects of mergers in Cournot models. Prior work finds that, absent efficiency gains, mergers among … neither of these results need hold when mergers can alter the boundaries of technology competition. …

event of default or poor performance. We find that inefficiencies in conglomerate banks are more prone to occur when …

the outcome of a merger. Headquarters relocate to metropolitan areas with good airport facilities, low corporate taxes …

analyse the motivations for horizontal mergers, technology choice, and their welfare implications. We first analyse the … implication of market structure for the distribution of industry profits. We find that retailer mergers are more likely (less … likely) if suppliers have increasing (decreasing) unit costs, while supplier mergers are more likely (less likely) if goods …