Merger value is frequently evaluated in single market contexts without considering possible gains stemming from firms … multimarket firms create incremental value. We establish a simple theoretical model that determines merger value in a multimarket … firm environment. The model enables us to derive merger values as being independent of post-merger market shares, but …

The U.S. and EU Merger Guidelines strongly emphasize the relevance of the "ease of entry" argument in merger …

This study investigates the impact of firm-specific discount factors on merger formation and market performance. We … explain merger formation and the impact on product market performance. More specifically, we find that acquiring firms …

effects of M&As on firms' post-merger R&D investments and drug development capabilities across drug development phases. This … study builds on a novel database that enables us to evaluate the post-merger effect at the research project level and across … examine the direct and indirect merger effects on R&D capabilities across development phases. We find that M&As have a strong …

The U.S. and EU Merger Guidelines strongly emphasize the relevance of the ease of entry argument in merger evaluations … related product markets. Finally, our results confirm that post-merger changes in the equilibrium number of firms directly …

differential merger outcomes are caused mostly by firms' technology or product market attributes. Furthermore, empirical merger …. We allow the merger responses to vary across firms, even after controlling for regressors, and apply a random …

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 …

-specific discount factors explain firms' production decisions. We also find that firms' discount factors and merger acquisition … strategies explain heterogeneous merger outcomes. Our results show that acquiring firms characterized by low discount factors …