New evidence and perspectives on mergers pdf
Jan 01, · New Evidence and Perspectives on Mergers Empirical research has revealed a great deal about mergers and acquisitions trends and characteristics over the last century. But on the issue of why mergers occur, research success has been more limited. Economic theory has provided many possible reasons for why mergers might occur: efficiency-related. May 23, · Consistent with that, we find evidence of improved operating performance following mergers, relative to industry peers. JEL Classification: G3, L5. Suggested Citation: Suggested Citation. Andrade, Gregor M-M. and Mitchell, Mark L. and Stafford, Erik, New Evidence and Perspectives on Mergers (January ). Download This Paper Open PDF in Cited by: Downloadable! Author(s): Gregor Andrade & Mark Mitchell & Erik Stafford. Abstract: As in previous decades, merger activity clusters by industry during the s. One particular kind of industry shock, deregulation, becomes a dominant factor, accountings for nearly half of the merger activity since the late s. In contrast to the s, mergers in the s are mostly stock swaps, and.