predicts that a merger is more likely to be profitable in an innovation intensive industry. For a high degree of firm … heterogeneity, a merger reduces innovation of both the merged entity and non-merging competitors in an industry with high R … consistent with many predictions of the theoretical model. Our main result is that after a merger, patenting and R&D of the …

important in merger arbitrage, where deal failure is a key risk. In this paper, I propose a dynamic asset pricing model that … addition, the model accurately predicts that merger arbitrage exhibits low volatility and a large Sharpe ratio when deals are …

This paper investigates the merger wave hypothesis for the US and the UK employing a Markov regime switching model …. Using quarterly data covering the last thirty years, for the US, we identify the beginning of a merger wave in the mid 1990s … but not the much-discussed 1980s merger wave. We argue that the latter finding can be ascribed to the refined methods of …

We quantify the impact of merger activity on productive efficiency. We develop and calibrate a dynamic industry … synergies, and indirectly through firms' incentives to enter or exit the industry. Merger activity increases average firm … productivity by 4.8%, of which 4.1% reflects the accumulation of synergies, and 0.7% the interaction between merger options and …

success of a merger, it is to be ascertained if there is financial gain from mergers. The present study is limited to a sample … of companies listed in BSE which underwent merger during the period of 2002-2005. It is proposed to compare the … performance after the merger event …

Using mergers and acquisitions as a testing ground we examine whether managers face conflicting incentives in selecting … top to the bottom decile of the measure of uniqueness of the corporate strategy of the post-merger company is associated … decile; they also have subsequent one-year-post-merger-closing profitability which is about 1.25% lower than their peer group …

merger or acquisition (M&A) by investigating how common advisors affect deal outcomes. We compare M&As with common advisors …

The literature on mergers and acquisitions shows that a merger among identical firms is not profitable. This study … if environmental policies adjust with a change in market structure because of a merger, such a merger can be profitable …

This paper studies the use of merger review as a shield to obstacle hostile tender offers of a company. Commenting on …