macroeconomic conditions. Our results support the notion that mergers are often undertaken to seize growth opportunities. -- merger …

interaction between firms in a general equilibrium setting). In terms of economic importance, the dominant merger wave variable is … a positive global-all effect, indicating that M&A waves are an economy-wide, global phenomenon. Country-specific merger …

data from the European Commission’s market assessments in merger decisions with production data, we use recent … the performance of almost 600 rival firms in close to 200 merger cases before and after the change in market structure … increase their markups in the years after a merger. The effects are concentrated in markets with few competitors, among firms …

and industry merger and acquisition activity. All of these effects are stronger for smaller firms than for larger firms …

The U.S. and EU Merger Guidelines strongly emphasize the relevance of the ease of entry argument in merger evaluations … related product markets. Finally, our results confirm that post-merger changes in the equilibrium number of firms directly …

The U.S. and EU Merger Guidelines strongly emphasize the relevance of the “ease of entry” argument in merger … number of firms in related product markets. Finally, our results confirm that post-merger changes in the equilibrium number …

allocative and productive efficiency. We review theory and recent evidence on these linkages and also explore a third effect on …