Acquisitions, mergers and other business agreements are facing increasing regulatory scrutiny, even when they are among firms domiciled outside the territory of the regulatory authorities. Some noteworthy recent examples involve mergers between American firms that were prohibited by regulators...

Why do regulatory authorities scrutinize mergers and acquisitions? The authorities themselves claim to be combating monopoly power and protecting consumers, but the last two decades of empirical research has found little supporting evidence for such laudatory motives. An alternative is that M&A...

Why do regulatory authorities scrutinise mergers and acquisitions? The authorities themselves claim to be combating monopoly power and protecting consumers. But the last two decades of empirical research has found little supporting evidence for such motives. An alternative is that M&A regulation...

Recent empirical papers report a declining trend in the cumulative abnormal return (CAR)of acquirers during an M&A program. Does this necessarily imply that acquiring CEOs areinfected by hubris and are not learning from previous mistakes? We first confirm theexistence of this declining trend on...