By combining two large data sets (on international trade flows and cross-border mergers and acquisitions - M&As), we … interaction between firms in a general equilibrium setting). In terms of economic importance, the dominant merger wave variable is … a positive global-all effect, indicating that M&A waves are an economy-wide, global phenomenon. Country-specific merger …

access to the rest of the world (through transport hubs) are key drivers for target selection. …

incentivizes them to engage in more deals. We also explore the effects of country-level merger competition laws and also pro-takeover …We examine the relation between venture capital (VC) investments, M&A activity, and merger competition laws in 48 … countries around the world. We find evidence of a strong positive association between VC investments and lagged M&A activity …

-level uncertainty is characterized by a pecking order: the announcement of a domestic takeover leads to a reduction in the uncertainty …