A growing number of merger studies concern the causality of firm performance and merger activity in the last decade, but with mixed results. Assuming semi-strong efficiency, this article argues that firms with good stock performance are more likely to acquire other firms. With 412 US-listed...

In Taiwan the optimal number of financial holding companies (FHCs) has become an economic as well as political concern since 2002. This paper is different from most early papers by focusing solely on the measure of the change in synergies around the mergers of financial services companies, by...