Ovtchinnikov, Alexei V. - In: Journal of Corporate Finance 21 (2013) C, pp. 51-76
-deregulation industry performance. Consistent with this hypothesis, I find that post-deregulation mergers serve a contractionary role …. Bidders and targets in post-deregulation mergers are poor performers prior to the merger and operate with significant excess … capacity. Consistent with the hypothesis that post-deregulation mergers represent a form of exit, the frequency of cash and …