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

merger wave. The evidence indicates that the efficiency of the majority of acquiring firms increases following an acquisition …. Based on the parameter estimates, we calculate merger welfare effects. We find that total welfare increased by $583 …

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 (Mamp;A) investment responds … investment, i.e., the 'Free-Cash Flow' story works, but explains a small fraction of mergers only, and 3. The merger waves of …

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

We study optimal merger policy in a dynamic model in which the presence of scale economies implies that firms can … the period the merger is proposed. We also find that the ability to commit can lead to a significant welfare improvement …