Previous work on exit in declining industries has neglected mergers. We examine a simple model that predicts which declining industries experience horizontal mergers. Mergers are more likely if 1) market concentration is high; 2) the inverse demand curve is steep at high levels of output and...

Mergers and acquisitions (M&As) are significant corporate restructuring activities that attract the attention of shareholders as they focus on wealth creation. Such transactions are considered as very risky and challenging and at the same time very important company investment decisions....

While there have been numerous papers on the employment and wage effects of mergers and acquisitions, there has been no direct analysis of the impact of such ownership changes on minority and female workers. This is an unexplored quot;equityquot; dimension of these transactions. We fill this gap...

In this paper, we proposed a model of how corporate acquisition influences industrial performance by exploring industry-level and firm-level ownership characteristics in emerging markets. Based on a database of 1,934 acquisitions of listed firms in China, we examined the relationship between...

This paper uses a rich panel data set of Indian manufacturing firms to analyze the effects of domestic and international acquisitions on various outcomes at target firm and product level. We apply recent methodological advances in the estimation of production functions together with information...

We examine how firms redraw their boundaries after acquisitions using plant-level data. We find that there is extensive restructuring in a short period following mergers and full-firm acquisitions. Acquirers of full firms sell 27% and close 19% of the plants of target firms within three years of...

It is purported to bring forward the additional evidence of the microeconomic effects of mergers, that is, the financial performance of merging firms in Japanese manufacturing industry. Performances tested are profitability, efficiency, firm growth, research and development. (NL-409)