are robust to a range of approaches to address the endogeneity of firms' merger decisions …

Merger control authorities may approve a merger based on a so-called 'efficiency defence'. An important aspect in … clearing mergers is that the efficiencies need to be merger-specific. Joint ventures, and in particular research joint ventures …

We examine the relationship between concentration and price dispersion using variation induced by a merger in the …

This paper describes and considers explanations for changes in corporate governance and merger activity in the United … States since 1980. Corporate governance in the 1980s was dominated by intense merger activity distinguished by the prevalence … of leveraged buyouts (LBOs) and hostility. After a brief decline in the early 1990s, substantial merger activity resumed …

' 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 …

change: internally precipitated management turnover, hostile takeover, and friendly takeover. We find that firms experiencing … is also weaker evidence that hostile takeover targets underperform their industry peers. We interpret this evidence as … relative to industry, but that an external challenge in the form of a hostile takeover is often required when the whole …