increases in share prices and price/earnings ratios. We test four hypotheses that have been advanced to explain merger waves … assume that managers maximize profits, mergers create wealth, and the capital market is efficient. The last two, behavioral …

investments whose returns take time to materialize. …

investors believe in gains through the exploitation of market power by the post-merger entity. In a multinomial logistic model …

At the global level, the mispricing theory of mergers by Shleifer and Vishny (2003) may imply that a significant number … indicates overvaluation. The present study develops a measure of merger imbalance that compares the quantity of targets and … countries with a high merger imbalance significantly outperform countries with a low merger imbalance. The research is based on …

Cross-border merger activity is growing in importance. We map the global trade network each year from 1989 to 2016 and … compare it to cross-border and domestic merger activity. Trade-weighted merger activity in trading partner countries has … statistically and economically significant explanatory power for the likelihood a given country will be in a merger wave state, at …

their managers. Increases in managerial reservation wages lead to a reduction in corporate governance investments and a rise … in performance compensation since monitoring managers becomes less efficient. Using data on CEO compensation and …

their managers. Increases in managerial reservation wages lead to a reduction in corporate governance investments and a rise … in performance compensation since monitoring managers becomes less efficient. Using data on CEO compensation and …