Most studies on mergers and acquisitions are not sample selective. This study directly examines the motives of horizontal mergers by utilizing a sample of acquiring firms based on same SIC codes. A three factor Arbitrage pricing model was utilized, with Tobin’s q ratio as a measure of market power, to study the performance of the firms involved in the mergers. The results indicate the acquisiti...

This paper examines the market’s reaction to news of corporate mergers and acquisitions (M&A) by Japanese bidders during the 1990s. Domestic versus global bids and pro-M&A legislation are considered as determinants of bidders’ abnormal returns. The results show that bidders for domestic targets earn significant abnormal returns after the institutions of pro-M&A legislation in Japan. These findi...

Exploring the potential transition from strategic technology partnering to mergers and acquisitions This paper studies a number of research topics derived from the basic question: do inter-firm partnerships with different intermediary modes of company organization change over time as one of the companies that were previously cooperating becomes integrated by its partner? As such this contributi...

In the context of introduction of deregulatory policy measures and subsequent wave of mergers and acquisitions (M&A) in Indian corporate sector since 1991, the present paper attempts to examine the welfare implications of this wave. It is found that M&A do not have any significant impact on consumers’ welfare. Instead, consumers’ welfare is significantly influenced by exports intensity, imports...

This article discusses and contrasts the cultural fit, cultural potential, communication, direction, and leadership in the success and failures of mergers and acquisitions. The focus of the article is to determine independent variables that influence the success or failure of a merger or acquisition using existing empirical literature, while comparing and contrasting the information found in te...

We study the dynamics of market entry following mergers and acquisitions (M&As), and the behavior of recent entrants in supplying output that might be withdrawn by the consolidating firms. The data, drawn from the banking industry, suggest that M&As are associated with subsequent increases in the probability of entry. The estimates suggest that M&As explain more than 20% of entry in metropolita...

This paper examines the diagnosis related group-level (DRG) price effects of recent hospital mergers and acquisitions that occurred in Ohio and California. Empirical results indicate that hospital mergers and acquisitions increase prices at the DRG level. Further, price increases are greater in DRGs where the merging hospitals gained substantial market share compared to DRGs where the merging h...

Although recent literature on mergers and acquisitions (M&A) has looked exhaustively at a variety of issues embracing organizational systems, practices and people, it has ignored the gendered nature of merging. The aim in this article is twofold. First, to demonstrate how segregation according to gender is determined in the merger process by the organizational histories of the two merger partne...