This study explores the investment behavior of underperforming chief executive officers (CEOs) on merger frequency and … the effect on acquirers’ shareholder wealth of merger bids in U.S. industrial firms. We find that underperforming CEOs are … wealth, we find that there is no evidence to indicate that underperforming CEOs perform more poorly with a merger bid …

This study explores the behavior of underperforming chief executive officers (CEOs) on merger frequency and the effect … on acquirers’ shareholder wealth of merger bids in U.S. industrial firms from 1994 to 2018. We find that underperforming … perform more poorly with a merger bid. Further, we find that rankings of underperforming CEOs who engage in acquisitions are …

Competition in some markets is a contest. This paper studies the merger incentives in such markets. Merger can be … profitable. The profitability depends on the post-merger contest st ructure, the discriminatory power of the contest and on the …

can lead to a softer merger policy when competition is weaker. … merger between regulated firms when cost synergies are uncertain before the merger and their realization becomes private … information of the merged firm. The optimal merger policy trades off potential cost savings against regulatory distortions from …