business cycles. (2) Most mergers occur when both the acquirer and the target economies are booming. (3) Merger booms have both … peers. These facts are consistent with the neoclassical theory of mergers in which productive firms expand overseas to seize …

I survey the empirical and theoretical literature on merger waves, beginning with the very early work on aggregate … no single explanation for merger activity or waves--and there is room for market misvaluation to play a role--the bulk of … the evidence points to the conclusion that merger waves are the response to shocks to industries’ operating environments …

This study examines how PCAOB international inspections of non-U.S. auditors affect international Merger and …

Merger and Acquisition (M&A) activities are not well-anticipated corporate events in the equity market. Do … be merger arbitragers and buy more shares of target firm stocks to speculate on final deal consummation; while banks …

The brewing industry has recently experienced increased merger activity. This paper analyzes the shortterm wealth … effects of horizontal mergers and acquisitions on acquirers in the brewing industry. Based on a sample of 69 takeover …

after merger announcement, the passage of time is informative about the probability that the merger will ultimately complete …