Waves and Persistence in Merger and Acquisition Activity
نویسندگان
چکیده
WAVES AND PERSISTENCE IN MERGER AND ACQUISITION ACTIVITY Corresponding author. Tel. 1+617-552-3673, fax +1-617-552-2308, email [email protected]. John T. Barkoulas Department of Economics and Finance Louisiana Tech University Ruston, LA 71272 USA Christopher F. Baum Department of Economics Boston College Chestnut Hill, MA 02467 USA Atreya Chakraborty Charles River Associates Boston, MA 02116 USA Markov regime-switching and sine-wave models have been used to capture the apparent wave-like behavior in aggregate U.S. merger and acquisition (M&A) activity. In this paper we offer an alternative characterization of the dynamic structure in M&A activity as a strongly dependent or long-memory process.
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تاریخ انتشار 2000