Largely constant average acquirer returns over the past four decades mask fundamental changes in the takeover market … consistent with rising merger synergies that have become less bidder-specific …

stock price performance of bidder and target firms), and the nature of the sources of merger gains in the context of … for the CEO), governance spillovers from cross-border mergers (are there any?) and, finally, the returns to merger … issues such as the nature of aggregate merger activity (merger waves), market valuation effects of merger announcements (the …

, reduction in agency costs of free cash flow, implementation of executive compensation schemes with greater pay-performance …

This paper tests the hypothesis that horizontal mergers generate positive abnormal returns to stockholders of the … collusion hypothesis, rivals of the merging firms benefit from the merger since successful collusion limits output and raises … product prices and/or lowers factor prices. This proposition is tested on a large sample of horizontal mergers in mining and …

market shares found in the Department of Justice's merger guidelines are unlikely to identify truly anticompetitive mergers …The market concentration doctrine predicts that a horizontal merger is more likely to have collusive, anticompetitive … effects the greater the merger-induced change in industry concentration. Since a collusive, anticompetitive merger generates …

of the stock market - in particular mergers and acquisitions. In contrast to the actual listing count, the US merger …-adjusted count hardly peaks over 1980--2017 and does not exhibit a gap vis-a-vis merger-adjusted listings in other countries …