information. We test whether markets fully incorporate this information using the empirical context of mergers. During the year … after merger announcement, the passage of time is informative about the probability that the merger will ultimately complete …

We study optimal merger policy in a dynamic model in which the presence of scale economies implies that firms can … reduce costs through either internal investment in building capital or through mergers. The model, which we solve … computationally, allows firms to invest or propose mergers according to the relative profitability of these strategies. An antitrust …

example, U.S. antitrust agencies lost several hospital merger challenges when evidence showed that a nontrivial fraction of … various mergers would generate. Two distinct methods of predicting the price increase are implemented and both indicate that … even in suburban areas with high outflows of consumers, some hospital mergers could lead to significant price increases …

We examine the relation between venture capital (VC) investments and mergers and acquisitions (M&A) activity around the … world. We find evidence of a strong positive association between VC investments and lagged M&A activity, consistent with the … engage in more deals. We also explore the effects of country-level pro-takeover legislation passed internationally (positive …

around the world engaged in new long-term asset purchase programs, or so-called quantitative easing (QE) interventions. This …

We present a framework for determining the information that can be extracted from stock prices around takeover contests … relative synergies. The takeover contest for Paramount in 1994 illustrates one of these generic cases. We estimate that Viacom …