The market concentration doctrine predicts that a horizontal merger is more likely to have collusive, anticompetitive … effects the greater the merger-induced change in industry concentration. Since a collusive, anticompetitive merger generates … doctrine that the merger-induced expected benefits to the product market rivals of the merging firms should be an increasing …

, incomplete, and lacking in an overarching theory. We explain their occurrence by applying a complexity theory perspective to M …

and above the normal charge-offs. This paper examines the risk associated with post-merger variability in the charge … measure of risk to profitability in a bank's loan portfolio based on traditional portfolio theory. This measure is used to … the years following the merger. The paper finds that the combined loan portfolios of merging BHCs have higher than average …

In this study, we investigate the effect of merger waves on the long-term valuation of aggregate stock market. Our … empirical test shows significant positive relationship between the intensity of past, with four years lag, aggregate merger …

This paper examines whether market evaluates merger announcements in a reasonable way based on their effect on … fundamental value using a sample of 37 mergers from U.S. industries completed within 1992-1997. For this purpose, the post-merger … to market efficiency hypothesis. Full sample analysis shows that bidder abnormal stock return at the merger announcement …

business cycles. (2) Most mergers occur when both the acquirer and the target economies are booming. (3) Merger booms have both … peers. These facts are consistent with the neoclassical theory of mergers in which productive firms expand overseas to seize …

-pricing effect of stock offer, we hypothesize that the likelihood of stock payment increase with the pre-merger dividend policy of …

-taking. These results are consistent with the “takeover incentive hypothesis,” an original proposition stating that GPs influence … risk-taking through the incentive of a CEO with a GP to accept a takeover, as well as delta's role in affecting the weight … of the CEO's incentive to maximize the expected takeover-associated equity portfolio wealth. The findings do not support …

. Managers of private firms that go public through a reverse takeover mechanism - both small and large - sell overvalued equity … upon merger completion. Raising capital through equity issuance and use of equity to redeem debt is critical for survival …