This paper explains why consolidation acquisitions occur in waves and it predicts the differing role each firm is … initial acquisition triggers a wave of follow-on acquisitions, where the process of asset accumulation by the consolidator is … accelerated since the value of follow-on acquisitions is enhanced by the more concentrated industry structure. An initial …

building instead. We find that firms with specialized M&A staff make better acquisitions when acquisition performance is … earnings forecasts. This effect does not hold when the CEO is powerful, overconfident, or entrenched. Acquisitions by firms …

a failed bank acquisition when the deposit insurance fund is experiencing large outflows. This effect is not arising …

We quantify the impact of merger activity on productive efficiency. We develop and calibrate a dynamic industry …-equilibrium model that features mergers, entry, and exit by heterogeneous firms. Mergers affect productivity directly through realized … synergies, and indirectly through firms' incentives to enter or exit the industry. Merger activity increases average firm …

these multi-sided companies along with each company’s most important market segments. We then track their mergers and … acquisitions and match them with the segments. This exercise shows that these five firms use M&A activity mostly to strengthen …, therefore, acquisition appears to be a substitute for in-house R&D. Finally, from our check for possible "killer acquisitions …

.S. mergers between 1997 and 2017. I document that following a merger announcement, the most likely competitors experience on …There is a growing concern that U.S. merger control may have been too lenient, but empirical evidence remains limited …. Event studies have been used as one method to acquire empirical insights into the competitive effects of mergers. However …