predicts the frequency of mergers and acquisitions to be negatively correlated with employment protection. These predictions …

Empirical studies have found that takeover activity is positively related to the absolute size of industry-level shocks …. In this paper we develop a dynamic framework to analyze the timing of takeover which explains this pattern. Takeover may … by shocks to an industry variable. With competing acquirers of different types, takeover occurs only when shocks are …

that it is beneficial to be a non-merging rival firm to a large horizontal merger. Using a sample of mergers with expert …It is commonly perceived that firms do not want to be outsiders to a merger between competitor firms. We instead argue … merger announcement date. Further, we find that the stock reaction of rivals to merger events is not sensitive to merger …

-competitive mergers. These results are derived in an endogenous-merger model, predicting the conditions under which mergers occur, the …We explain the empirical puzzle why mergers reduce profits, and raise share prices. If being an 'insider' is better …, since the risk of becoming an outsider is eliminated. We also show that mergers increasing consumers' prices, while …

non-MNEs, and purely domestic firms before foreign takeover. The results, controlling for possible endogeneity of the … horizontal or vertical. We also find robust positive employment growth effects only for exporters, and only if the takeover is …

2,500 acquisitions in the United Kingdom and United States are used to examine means of payment in acquisitions. There … has been a substantial increase in the proportion of acquisitions financed with cash in the United States over the period … equity acquisitions and the differences cannot be wholly attributed to the nature of the bid. Cash acquisitions display a …

This paper seeks to identify the causal effect of foreign acquisitions on wages of skilled and unskilled workers, using … impacts result from acquisitions by EU multinationals. Also we discern some positive wage effects for unskilled workers … resulting from acquisitions by multinationals from the rest of the world. …