منابع مشابه
Merger Failure and Merger Profitability *
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متن کاملMerger Integration and Merger Success
We examine the importance of merger integration risk to the outcomes of mergers using new product-based ex ante measures of integration risk at the firm and firm-pair level. Our ex ante measures are significantly associated with ex post statements by managers in their 10-K indicating difficulties with merger integration and also employee retention issues. We find that firms performing acquisiti...
متن کاملCoordinated Interaction: Pre-merger Constraints and Post-merger Effects
Concern about coordinated effects long has been central to U.S. merger policy. The first sets of Horizontal Merger Guidelines (“Guidelines”), issued by the Department of Justice in 1982 and 1984, focused their attention squarely on coordinated effects.1 The language of the 1984 Guidelines articulated the “unifying theme . . . that mergers should not be permitted to create or enhance ‘market pow...
متن کاملScreening and Merger Activity
In our paper targets, by setting a reserve price, screen acquirers on their (expected) ability to generate merger-specific synergies. Both empirical evidence and many common merger models suggest that the difference between highand low-synergy mergers becomes smaller during booms. This implies that the target’s opportunity cost for sorting out relatively less fitting acquirers increases and, he...
متن کاملMerger Enforcement
The challenge of effective merger enforcement is tremendous. U.S. antitrust agencies must, by statute, quickly forecast the competitive effects of mergers that occur in virtually every sector of the economy to determine if mergers can proceed. Surprisingly, given the complexity of the regulators task, there is remarkably little empirical evidence on the effects of mergers to guide regulators. T...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2016
ISSN: 1556-5068
DOI: 10.2139/ssrn.2754207