There is a growing concern that U.S. merger control may have been too lenient, but empirical evidence remains limited … reviewing the use and challenges of event studies in merger analysis, I use a novel application of Hoberg-Phillips (2010, 2016 ….S. mergers between 1997 and 2017. I document that following a merger announcement, the most likely competitors experience on …

This paper introduces the Werden-Froeb Index (WFI) to assist in evaluating merger-specific efficiencies in horizontal … mergers. The index measures the weighted average reduction in marginal costs required to restore pre-merger equilibrium prices … and quantities after the (full or partial) merger is consummated. The WFI is well defined, objective and robust, and it …

interaction between firms in a general equilibrium setting). In terms of economic importance, the dominant merger wave variable is … a positive global-all effect, indicating that M&A waves are an economy-wide, global phenomenon. Country-specific merger …