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 positive and significant correlations between them when...

The intense concentration process taking place in the financial system across the world has attracted substantial attention from stakeholders and academicians. The impact of M&A on value creation and efficiency/effectiveness improvements of companies involved appears to be on the whole,...