information about suitable merger targets and to manage the merged corporation in case of an acquisition. Our results show that … obtain high-powered incentives and, hence, a high personal income at the merger-management stage. We derive conditions under …

. Even if market concentration and technological disadvantages lead to a significant welfare reduction after merger, from …

. Our analysis shows that bank merger events have little impact on profit efficiency, but significantly lower cost …

that operate partially on a joint tram network. Merger gains are then decomposed into individual technical efficiency …