positive externality on the outsider (competing) firm when a merger occurs. The purposes of this paper are to empirically …

larger price increases than mergerrelated exits. Within the merger category, our analysis reveals significant price increases … on all affected routes immediately after the exit events. In the medium and long-run, however, realized merger …

We investigate the competitive effects of the merger between Delta Air Lines and Northwest Airlines (2009) in the … increases of about 11 percent on overlapping routes and about 10 percent on routes which experienced a merger-induced switch of … the operating carrier. Over a longer period, however, our analysis reveals that both merger efficiencies and post-merger …

merger. On average, the estimated cumulative loss of volume during the first five post-merger quarters was 2.6 million checks …

This paper uses merger simulations to predict post-merger prices for six major airline mergers from the 1980?s, and … compares these predictions with actual post-merger prices. Simulations which incorporate varying degrees of post-merger … of the post-merger price change, but should not be expected to account for all of it. Changes in marginal cost or firm …

This paper addresses the key determinants of merger failure, in particular the role of innovation (post-merger … introduce a model of process innovation where merged firms exibit intra-merger spillover of knowledge under different market … section we test the model implications for merger failure for M&A data from the US biotechnology industry in the 90s. We find …

This paper investigates the merger wave hypothesis for the US and the UK employing a Markov regime switching model …. Using quarterly data covering the last thirty years, for the US, we identify the beginning of a merger wave in the mid 1990s … but not the much-discussed 1980s merger wave. We argue that the latter finding can be ascribed to the refined methods of …

This paper looks at the role of both commercial and investment banks in providing merger advisory services. In this … investment banks. In their dual role as lenders and advisors to firms that are the target or the acquirer in a merger, banks can … possible reasons for these different outcomes. First, it is the target firm, not the acquirer, that must be priced in a merger …