The behavioral equilibrium exchange rate (BEER) and the Penn effect models are compared via their applications on the … setting, the Penn effect model can be viewed as a special form of the BEER model; however, the latter includes many other … comparison, each model’s findings from the BEER model are only partly reasonable but each model’s findings from the Penn effect …

. Interestingly, these post merger patterns look similar across countries. We also did not find dramatic differences between mergers … efficiency and market power. Our results suggest that those mergers that decrease profits and efficiency account for a large … efficiency. The first conclusion seems to be a more likely explanation for large companies, whereas the latter is likely to be …

-competitive effects that may result from mergers and acquisitions. In order to appropriately consider efficiency claims in the merger … efficiency gains in merger analysis …. Consequently, many antitrust agencies take into account the balancing effects of efficiency gains compared to anti …