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Study of the impact of mergers and acquisitions (M&As) on productivity and market power has been complicated by the difficulty of separating these two effects. We use newly-developed techniques to separately estimate productivity and markups across a wide range of industries using detailed...
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this soft-law approach by examining the effects of takeover defenses adopted under the regulation of letters of concern …In recent years, many Chinese listed corporations have adopted draconian takeover defenses that harm shareholders … with event studies. The movements of stock prices during the event period suggest that the takeover defenses adopted by …
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