this, the UK government has pursued an active policy of hospital merger. These mergers are initiated by a regulator, acting … on behalf of the public, and justified on the grounds that merger will improve outcomes. We examine whether this promise … involved in a merger, but that politics means that selection for a merger may be random with respect to future performance. We …

form of takeover (tender versus merger) and whether the bid is contested, cash offers provide substantially higher wealth …

5% reduction in health deficiency citations 2 years post-merger. This improvement relies on the continuous supply of …

have better pre-merger misconduct records than the industry's average firm and, within the subsample of merging firms …, there is assortative matching on misconduct. Merger events facilitate further reductions in misconduct through separations …

for merger evaluation, finding that firms' simultaneous exercise of oligopoly power in the product market and oligopsony … merger-induced gains in labor market power incentivize firms to reduce product quality, highlighting an additional channel … mortality. After recovering the structural parameters, the estimated model replicates observed merger impacts. Counterfactual …

of merger activity. We find that hospitals gaining system members in-state (but not in the same geographic market …

We study optimal merger policy in a dynamic model in which the presence of scale economies implies that firms can … the period the merger is proposed. We also find that the ability to commit can lead to a significant welfare improvement …