and Q-theories of mergers. Using this measure, we find that misvaluation is a strong determinant of merger decision making …

There is a growing concern that U.S. merger control may have been too lenient, but empirical evidence remains limited …. After reviewing event studies as a method to acquire empirical insights into the competitive effects of mergers, I propose a … market returns of likely competitors to 1,751 of the largest U.S. mergers since 1997. I document that likely competitors …

This paper presents some ideas about determinants of merger waves and some evidence on their effect on profitability … and employment. A brief survey of previous merger waves and an analysis of the recent one give support to the hypothesis … that sectoral shocks are at the root of merger waves. Deregulation and globalization are identified as the shocks …