An important component of corporate governance is the regulation of significant transactions – mergers, acquisitions, and restructuring. This paper (a chapter in Oxford Handbook on Corporate Law and Governance, forthcoming) reviews how M&A and restructuring are regulated by corporate and...

The paper further contributes to our understanding about the role of societal trust in influencing mergers outcome. Using a large sample of cross-border mergers across 56 countries between 1985 and 2014, we show that, conditional on announcement of cross-border mergers, larger differences of...

In a comprehensive study of all shipping mergers and acquisitions since 1984 we document that the shareholders of both acquirer and target realize average abnormal gains of 1.2% and 3.3% respectively and both parties gain more from diversifying than focus-increasing deals. We find that acquirers...

We quantify externalities on profitability and market shares of competing firms in oligopolistic markets through the transition from an n to an n-1 player oligopoly after a merger. Competitors are identified via the European Commission's market investigations and our methodology allows us to...

We test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data from 64 countries during the period 2005-2014, we find that cross-border M&A activity is associated with subsequent improvements in the governance of...

We show that a larger migrant stock from an acquiring country to a target country leads to greater deal frequency and dollar value in cross-border acquisitions after controlling for the differences in economic and financial development, regulatory environments, valuations, and cultural distance....

This research is the first to examine the empirical predictions of a real option-pricing model using a large sample of data on mergers and acquisitions in the European Banking industry. We find empirical support for a model that estimates the value of an option to wait in accepting an initial...

I survey the empirical and theoretical literature on merger waves, beginning with the very early work on aggregate waves and moving on to the study of industry-level waves and finally cross-border activity. I argue that although there is no single explanation for merger activity or waves--and...

Mergers and acquisitions (henceforth M&As) have been studied from different disciplines from the ‘60s to date. Findings from these different areas, however, lack theoretical integration and scholars often express dissatisfaction with the fragmented findings. This note will address some of...