Mergers, acquisitions and takeovers often imply dramatic changes for employees, competitors, customers and suppliers. Not surprisingly, the market for corporate control has generated controversy and is frequently regulated by law or business custom. Though transfers of control take place in many...

Regulatory uncertainty may delay investment, and some implemented or expected regulatory regimes may reduce the returns to investment. Public utilities, petroleum, telecommunications, automobiles, pharmaceuticals, and other industries offer examples of the industry specific effects of...

The Williams Act, originally viewed as hindering the market for corporate control and hurting shareholders, may have fostered collectively optimal shareholder behavior and encouraged exchange listings. The major exchanges supported passage of the Williams Act, and the NYSE had itself previously...

Coolidge's antitrust authorities promoted merger and trade associations. Hoover abruptly reversed course in 1929 and precipitated a three-year struggle over antitrust reform. These shifting policies and the political struggle over antitrust offer an explanation for the 1920s boom and merger...

The effects of antitrust policy are illuminated in an extensive series of enforcement actions against Microsoft. As antitrust intervention promises to benefit a broad spectrum of publicly traded firms, stock market reactions to enforcement quot;eventsquot; constitute forecasts of the net...

Mergers, acquisitions and takeovers often imply dramatic changes for employees, competitors, customers and suppliers. Not surprisingly, the market for corporate control has generated controversy and is frequently regulated by law or business custom. Though transfers of control take place in many...

The sources of stock volatility and especially higher volatility in recessions have puzzled financial economists. One explanation emerges from recent theoretical work that points to political and regulatory uncertainty as a source of output fluctuations. Since political uncertainty can also...