We estimate the effects of horizontal mergers on marginal cost efficiencies - an ubiquitous merger justification … mechanisms underlying "buyer power." We find that merger target hospitals save on average $176 thousand (or 1.5 percent) annually …

Concentration-based screens for horizontal mergers, such as those employed in the US DOJ and FTC Horizontal Merger … Guidelines, play a central role in merger analysis. However, the basis for these screens, in both form and level, remains unclear …

banks in individual EU countries help to explain the nature of cross-border merger activity. If they wish to protect …

We analyze the optimal dynamic policy of an antitrust authority towards horizontal mergers when merger proposals are … endogenous and occur over time. Approving a currently proposed merger will affect the profitability and welfare effects of … surplus by using a completely myopic merger review policy that approves a merger today if and only if it does not lower …

, average HMO premiums are estimated to be 3.2% higher than they would have been absent any hospital merger activity during the …

In this paper, we develop a novel theory of cross-border mergers and acquisitions. Firms can choose between different … modes of foreign market access: exporting, greenfield FDI, and cross-border M&A. Our theory is based on three key ideas …. Third, capabilities are traded in a merger market. We address two questions: (1) what are the characteristics of firms that …

The Q-theory of investment says that a firm's investment rate should rise with its Q. We argue here that this theory … also explains why some firms buy other firms. We find that 1. A firm's merger and acquisition (M&A) investment responds to …, i.e., the 'Free-Cash Flow' story works, but explains a small fraction of mergers only, and 3. The merger waves of 1900 …