Using a sample of 167 mergers during the period 1990-2002 involving 544 firms either as merging firms or competitors …, we contrast a measure of the merger's profitability based on event studies with one based on accounting data. We find … case of anticompetitive mergers. …

Abstract: Using a unique sample of 425 bank mergers in the US announced between 2000 and 2008 this paper provides clear … evidence supporting the collusion and productive efficiency hypotheses. By analyzing 425 bank mergers and a total of 1112 … attributed to either the collusion, productive efficiency, acquisition probability or pre-emptive merger hypothesis. In contrast …

This paper presents some ideas about determinants of merger waves and some evidence on their effect on profitability … and employment. A brief survey of previous merger waves and an analysis of the recent one give support to the hypothesis … that sectoral shocks are at the root of merger waves. Deregulation and globalization are identified as the shocks …

Largely constant average acquirer returns over the past four decades mask fundamental changes in the takeover market … consistent with rising merger synergies that have become less bidder-specific …