appliance markets most affected by the merger to markets where concentration changed much less or not at all. We estimate price …

industry merger and acquisition activity. All of these effects are stronger for smaller firms than for larger firms …

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

Focusing on takeover bids whose outcome can be predicted in advance with certainty, Grossman and Hart established the …

' buyers acquire constrained' targets. This result holds while controlling for merger terms and for different proxies used to …

first order effect on observed merger and acquisition activity in the US. We also present evidence of increased reliance on … while the 1986 Tax Act discouraged transactions among US corporations, it increased the demand for merger and acquisition …

relatively low in value added per employee at the time of takeover and before, a characteristic we take to indicate relatively …-term recoveries after takeover from the misfortunes of the takeover year and a return to higher growth rates of employment and output … year or two after takeover but seem to have increased their profitability or efficiency relative to their industries. The …

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 …