Despite the mounting evidence that stock misvaluation affects takeover characteristics and outcomes at the deal level …, there remains a prolonged debate over whether mispricing drives aggregate industry-level merger activity. We depart from the … extant literature and investigate whether stock misvaluation drives industry-level merger waves by contrasting the effects of …

We document a strong positive initial market reaction to merger announcements from bidders with either large earnings …

The recent merger between US Airways and American Airlines was approved by federal and state antitrust authorities … anticompetitive effects from this merger. The economics literature offers many reasons why such stock-market event studies should not … unrelated to competitive harms, such as when a merger changes expectations that one or more rivals will be “in play” (i.e., a …

bidder firms, around the announcement dates of relevant merger and acquisition (M&A) transactions in the Eurozone during the … sixth takeover wave. We emphasize the observed change in the behavior in the reaction of investors while acquiring firms in …

anchoring bias in evaluating the effect of a merger or acquisition announcement by Russian investors. We demonstrate a …

The impact of the announcement of a takeover bid has been widely tested in foreign literature. Therefore, the main goal … of this paper is to research the impact of the announcement of a takeover bid on the share price movements in the … obligation to disclose information about takeovers to the public. It has been shown that disclosure of the intent to announce a …

' information processing even in the context of one of the largest and most important corporate events – merger announcements. More … reaction to Friday stock swap announcements is muted, as evidenced by lower acquirers' merger announcement abnormal trading … volumes and less pronounced acquirers' merger announcement abnormal stock returns …

Merger and Acquisition (M&A) activities are not well-anticipated corporate events in the equity market. Do … be merger arbitragers and buy more shares of target firm stocks to speculate on final deal consummation; while banks … have better models to predict possible takeovers, rather than inside information. Finally, I show that the trading by …