the period 1990-2002 to assess the effectiveness of European merger control. The basic idea is to relate announcement and … decision abnormal returns. Under a set of four maintained assumptions, merger control might be interpreted to be effective if … rents accruing due to the increased market power observed around the merger announcement are reversed by the antitrust …

of takeover bids. Mergers frequently force target CEOs to retire early, and CEOs' private merger costs are the forgone … costs, we find strong evidence that target CEO preferences affect merger patterns. The likelihood of receiving a takeover … benefits of staying employed until the planned retirement date. Using retirement age as an instrument for CEOs' private merger …

, products or other valuable resources of the target firm. Given this heterogeneity of takeover motivations and the skewness of … the distribution of the deal value we show whether and how the importance of different takeover motivations changes along …

Technological change is often hypothesized as one of the main drivers of merger activities. This paper analyzes the … structural model to investigate technology-related motivations behind merger formation. Distinguishing between cross-border and …