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Do Hedge and Merger Arbitrage Funds Actually Hedge? A Time-Varying Volatility Spillover Approach
Papathanasiou, Spyros; Vasiliou, Dimitrios; Magoutas, … - 2021
We examine the interaction between funds implementing hedge and merger arbitrage strategies and a set of traditional …
Persistent link: https://www.econbiz.de/10013230114
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Common Ownership and Mergers between Portfolio Companies
Inderst, Roman; Thomas, Stefan - 2019
increases anticompetitive effects of a merger between portfolio companies. Instead we posit that this depends on the facts of … the case. The existence of common ownership might even mitigate post-merger unilateral effects if compared to the pre-merger … onto the legal principles governing the burden of proof in merger cases …
Persistent link: https://www.econbiz.de/10014105080
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Portfolio Diversification, Market Power, and the Theory of the Firm
Azar, José - 2017
discuss implications for antitrust, stakeholder theory, and the boundaries of the firm …
Persistent link: https://www.econbiz.de/10012968775
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Diversification versus concentration motives in mutual fund mergers
Karoui, Aymen; Kooli, Maher - In: The journal of wealth management 17 (2014/15) 2, pp. 9-18
Persistent link: https://www.econbiz.de/10010401020
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Start-up acquisitions and the entrant's and incumbent's innovation portfolios
Dijk, Esmée S. R.; Moraga-González, José Luis; … - 2023 - First draft: July 2023
An entrant and an incumbent engage in an investment portfolio problem where each chooses how to allocate its research funds across a rival market, where they compete with one another, and a non-rival market, where they do not interact. Allowing for acquisitions distorts both players' incentives...
Persistent link: https://www.econbiz.de/10014335535
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Should banks be geographically diversified? : empirical evidence from cross-country diversification of European banks
Bandelj, Andreja - In: The European journal of finance 22 (2016) 1/3, pp. 143-166
Persistent link: https://www.econbiz.de/10011419965
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Oligopoly, macroeconomic performance, and competition policy
Azar, José; Vives, Xavier - 2018
We develop a macroeconomic framework in which firms are large and have market power with respect to both products and labor. Each firm maximizes a share-weighted average of shareholder utilities, which makes the equilibrium independent of price normalization. In a one-sector economy, if returns...
Persistent link: https://www.econbiz.de/10011891742
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The diversification of banking capital sources and cash flow granularity in merger and acquisition transactions
Natocheeva, Natalia Nikolaevna; Rovensky, Yury Alexandrovich - In: European research studies 20 (2017) 4A, pp. 501-514
Persistent link: https://www.econbiz.de/10012219460
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Real option analysis of a technology portfolio
Hilli, Petri; Kallio, Maarit; Kallio, Markku - In: Review of financial economics : RFE 16 (2007) 2, pp. 127-147
Persistent link: https://www.econbiz.de/10003490351
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Anomalous Deal Return Capture : A Cross-Sectional Study of Three Hypothetical Global Merger Risk Arbitrage Portfolios 2000-2016
McCarron, Daniel - 2017
This paper examines the annual risks and returns of three disparate, hypothetical merger arbitrage portfolio strategies … December 2016 time period. Previously written and undoubtedly the most prominent literature into M&A and merger arbitrage … of such from noise/shock trading and the risk & return characteristics of a merger arbitrage trading strategy …
Persistent link: https://www.econbiz.de/10012958921