Quotation Gugler, Klaus, Mueller, Dennis C., Weichselbaumer , Michael. 2012. The determinants of merger waves: An international perspective. International Journal of Industrial Organization 30 (1): S. 1-15.


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Abstract

One of the most conspicuous features of mergers is that they come in waves that are correlated with increases in share prices and price/earnings ratios. We use a natural way to discriminate between pure stock market influences on firm decisions and other influences by examining merger patterns for both listed and unlisted firms. If "real" changes in the economy drive merger waves, as some neoclassical theories of mergers predict, both listed and unlisted firms should experience waves. We find significant differences between listed and unlisted firms as predicted by behavioral theories of merger waves.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal International Journal of Industrial Organization
Citation Index SSCI
WU Journalrating 2009 A
WU-Journal-Rating new FIN-A, STRAT-B, VW-B, WH-B
Language English
Title The determinants of merger waves: An international perspective
Volume 30
Number 1
Year 2012
Page from 1
Page to 15
Reviewed? Y
DOI http://dx.doi.org/10.1016/j.ijindorg.2011.04.006

Associations

People
Gugler, Klaus (Details)
External
Mueller, Dennis C. (Universität Wien, Austria)
Weichselbaumer , Michael (Universität Wien, Austria)
Organization
Research Institute for Regulatory Economics FI (Details)
Institute for Quantitative Economics IN (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
5370 Industrial economics (Details)
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