Baxamusa, Mufaddal; Georgieva, Dobrina - In: Journal of Economics and Finance 39 (2015) 2, pp. 262-287
We hypothesize that macro-level liquidity affects the choice between tender-mergers and mergers. We employ a novel methodology to test this relationship. This method finds structural breaks in the number of tender-mergers relative to mergers and finds that the structural breaks coincide...