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 …

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 … consistent with many predictions of the theoretical model. Our main result is that after a merger patenting and R\&D of the …

We study for a sample of international mergers and acquisitions the effectiveness of three takeover bidding strategies …