Ever since the Deregulation Act in 1978 in the U.S. airline industry, there have been series of major airline mergers and acquisitions, notably three major waves in the 1980’s, 1990’s, and late 2000’s. These mergers, especially the more recent multi-billion mergers (e.g. DeltaNorthwest, United-Continental) have shown a trend of substantial market consolidation that inevitably worries consumers ...

We examine the pairing process of supermassive black holes (SMBHs) down to scales of 20-100 pc using a set of N-body/SPH simulations of binary mergers of disk galaxies with mass ratios of 1:4 and 1:10. Our numerical experiments are designed to represent merger events occurring at various cosmic epochs. The initial conditions of the encounters are consistent with the ΛCDM paradigm of structure f...

In the past twenty years, companies in the aerospace industry experienced major transitions: mergers and acquisitions, and lean transformation initiatives. This thesis presents research about the relation of lean efforts and mergers and acquisitions. It is based on case studies of mergers and acquisitions undertaken by Boeing Company. In order to obtain supplementary research data, case studies...

We compare the nonthermal emission from clusters of galaxies undergoing minor mergers (“accreting” clusters) and major mergers (“merging” clusters). We define major mergers as the mergers that change the inner dark matter structure of clusters; minor mergers are all others. For accreting clusters, the radial distribution of the nonthermal emission in the clusters is also calculated. The relativ...

Supermassive black hole masses (BH, MBH) are strongly correlated with galaxy stellar bulge masses (Mbulge) and there are several ideas to explain the origin of this relationship. This study isolates the role of galaxy mergers from considerations of other detailed physics to more clearly show how a linear BH-galaxy mass relation (MBH-Mgal) can naturally emerge regardless of how primordial BHs we...

Once upon a time, study of the effects of mergers was clearly the province of specialists in industrial organization. But then, following two upheavals, this turf was lost. The first change was the shift (in the United States; less in other industrial countries) toward diversifying mergers and away from those combining competing or vertically related companies. The second change was the develop...

The question of whether or not mergers and acquisitions have helped to enhance banks’ efficiency and profitability has not yet been conclusively resolved in the literature. We argue that this is partly due to the severe methodological problems involved. In this study, we analyze the effect of German bank mergers in the period 1995-2000 on banks’ profitability and cost efficiency. We suggest a n...

Theoretical considerations and observational data support the idea that mergers were more frequent in the past. At redshifts z = 2 to 5, violent interactions and mergers may be implicated by observations of Lyman-break galaxies, sub-mm starbursts, and active galactic nuclei. Most stars in cluster ellipticals probably formed at such redshifts, as did most of the halo and globular clusters of the...

Despite extensive research interest in the last decade, the banking literature has not reached a consensus on the impact of bank mergers on deposit rates. In particular, results on the dynamics of deposit rates surrounding bank mergers vary substantially across studies. In this paper, we aim for a comprehensive empirical analysis of a bank merger’s impact on deposit rate dynamics. We base the a...