information about suitable merger targets and to manage the merged corporation in case of an acquisition. Our results show that … high-powered incentives and, hence, a high personal income at the merger-management stage. We derive conditions under which …

This papers analyses how horizontal mergers affect innovation activities of the merged entity and its non … predicts that a merger is more likely to be profitable in an innovation intensive industry. For a high degree of firm … heterogeneity a merger reduces innovation in both the merged entity and in non-merging competitors in an industry with high R …

We study for a sample of international mergers and acquisitions the effectiveness of three takeover bidding strategies … complementary evidence on the role of strategic bidding in international mergers and acquisitions. …

incentives, risk management models and procedures, conflicts of interest and bank strategies. Their perspectives are quite …

College) gave the SUERF 2015 Annual Lecture on Capital and Banks. The conference focused on core aspects of banking reform …

College) gave the SUERF 2015 Annual Lecture on Capital and Banks. The conference focused on core aspects of banking reform …

exogeneity tests indicate that both decisions are only endogenous to one another for banks that start using swaps for the first … time. For other banks, the maturity gap is exogenous to the decision to use swaps, but the reverse relationship is … endogenous. For banks with trading activity, both decisions are exogenous to one another. We interpret these findings as the …