the results in the existing merger literature on integrated markets). Although the sum of consumer surplus across the …

total number and 37% of the total volume of M&As around the world since the early 1990s. We survey the literature on cross …-border M&As, focusing on international factors that can lead firms to acquire a firm in another country. Such factors include …

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 …

, we discuss the definition of cross-border merger and acquisition. Second, we provide descriptive statistics on the …

takeover premiums are decreasing in the quality of the foreign acquirer’s home country governance for deals completed with … governance regimes. Correspondingly, we find that the acquiring firm stockholders’ abnormal returns at the merger announcement …