Proponents of hospital consolidation claim that mergers lead to significant cost savings, but there is little systematic evidence backing these claims. For a large sample of hospital mergers between 2000 and 2010, I estimate difference-in-differences models that compare cost trends at acquired hospitals to cost trends at hospitals whose ownership did not change. I find evidence of economically ...

The general conclusion of the empirical literature is that in-market consolidation generates adverse price changes, harming consumers. Previous studies, however, look only at the short-run pricing impact of consolidation, ignoring all effects that take longer to materialize. Using a database that includes detailed information on the deposit rates of individual banks in local markets for differe...

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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...

When what we get is not what we want-The role of implemented versus desired merger patterns in support for mergers Council (RES 062-23-0135). We thank Jessica Salvatore and Joanne Smith for comments on an earlier version of this manuscript. Abstract Integrating an intergroup perspective on mergers with discrepancy theories, we argue that merger partners aim for merger patterns that benefit thei...

A social identity approach to the investigation of group-based reactions to a merger is outlined, in which a merger is analyzed in terms of the continuation or change of the pre-merger group identity. In two experiments, the relationship between pre-merger identification, post-merger identification, and ingroup bias was investigated using a minimal group paradigm. Results from both studies show...

Mergers that substantially lessen competition are challenged by antitrust authorities. Instead of blocking anticompetitive transitions straight away, authorities might choose to negotiate with the merging parties and allow the transactions to proceed with modifications that restore or preserve the competition in the involved markets. We study a sample of 167 mergers that were under the European...

Manuela Campanelli, 2 Carlos O. Lousto, Yosef Zlochower, Badri Krishnan, and David Merritt 2 Center for Gravitational Wave Astronomy, Department of Physics and Astronomy, The University of Texas at Brownsville, Brownsville, Texas 78520 Center for Computational Relativity and Gravitation, School of Mathematical Sciences, Rochester Institute of Technology, 78 Lomb Memorial Drive, Rochester, New Y...