of takeover bids. Mergers frequently force target CEOs to retire early, and CEOs’ private merger costs are the forgone … costs, we find strong evidence that target CEO preferences affect merger patterns. The likelihood of receiving a takeover … benefits of staying employed until the planned retirement date. Using retirement age as an instrument for CEOs’ private merger …

We show that the presence of a strategic tax policy increases the incentive for a horizontal merger compared to the … a horizontal merger that has been ignored in the existing literature. In contrast to the usual belief, we also show that … a horizontal merger may benefit the consumers and the society. …

Merged firms are typically rather complex organizations. Accordingly, merger has a more profound effect on the …

Competition in some markets is a contest. This paper studies the merger incentives in such markets. Merger can be … profitable. The profitability depends on the post-merger contest st ructure, the discriminatory power of the contest and on the …

firms in China. Using a unique and detailed dataset on manufacturing firms in China, we are able to follow the changes in … location patterns of firms between 2002 and 2008. Our analysis shows that firms in China are more localized than in the UK or … state-owned firms. Our findings are consistent with the notion that China is increasingly liberalizing its economy, enabling …

This paper investigates the time-varying impact of oil price uncertainty on stock prices in China using weekly data on …

euro-dollar rate, whatever the exchange-rate regime of China. Moving to a dynamic, stock-flow framework, we show that the …

We investigate the relationship between unemployment and growth in China. We find considerable differences in the … China, furthermore, appears to be close to the level associated with optimal speed of transition. …

China has been provoked into speeding renmnibi internationalization. But despite rapid growth in offshore financial … could attract even more hot money inflows, the People’s Bank of China should focus on tightly stabilizing the yuan/ dollar … exchange rate to encourage naturally high wage increases for balancing China’s international competitiveness. …