This study investigates the impact of firm-specific discount factors on merger formation and market performance. We … explain merger formation and the impact on product market performance. More specifically, we find that acquiring firms …

In several European merger cases competition authorities have demanded that the merging firm auctions off virtual …

In this paper we compare the profitability of a merger to the profitability of a partial ownership arrangement and find …

We examine how a downstream merger affects input prices and, in turn, the profitability of a such a merger under … unions organising workers. If the input suppliers are plant-specific, we find that a merger is more profitable than in a … take part in a merger than being an outsider. For firm-specific input suppliers, on the other hand, results are reversed …

compatibility and can engage in bundling. We consider the impact of merger on prices, investment and consumer surplus. We also …

differential merger outcomes are caused mostly by firms' technology or product market attributes. Furthermore, empirical merger …. We allow the merger responses to vary across firms, even after controlling for regressors, and apply a random …

We analyze the impact of a merger on firms' incentives to innovate. We show that the merging parties always decrease … their innovation efforts post-merger while the outsiders to the merger respond by increasing their effort. A merger tends to … reduce overall innovation. Consumers are always worse off after a merger. Our model calls into question the applicability of …