ECONOMIC SHOCKS, COMPETITION AND MERGER ACTIVITY
نویسندگان
چکیده
منابع مشابه
Merger Clusters during Economic Booms
Merger activity is intense during economic booms and subdued during recessions. This paper provides a non-financial explanation for this observable pattern. We construct a model in which the target—by setting the takeover price—screens the acquirer on his (expected) ability to realize synergy gains when merging. In an economic boom, it is less profitable to sort out relatively “bad fit” acquire...
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ژورنال
عنوان ژورنال: Journal of Business Accounting and Finance Perspectives
سال: 2019
ISSN: 2603-7475
DOI: 10.26870/1