Szücs, Florian. 2016. The Triggers and Clustering Properties of Merger Waves. Applied Economics 48 (56), 5485-5496.

RIS

@ARTICLE{Szücs2016, title = {The Triggers and Clustering Properties of Merger Waves}, author = {Florian Szücs}, year = {2016}, doi = {http://dx.doi.org/10.2139/ssrn.2304279}, url = {http://dx.doi.org/10.1080/00036846.2016.1178849}, volume = {48}, number = {56}, language = {EN}, pages = {5485-5496}, journal = {Applied Economics}, abstract = {This paper studies the triggers and the agglomeration of M&A activity within clusters constituted by time, market and industry. Based on almost 500,000 individual transactions, we find that industry factors play a significant role in triggering activity and that M&A agglomerates strongly across related industries. While clustering in time turns out to be insignificant, stock-market effects can be either an attracting or a repelling force, depending on the type of deal examined. This supports the view that merger waves are largely driven by industry shocks. }, }