Clustering Properties of Merger Waves: Space, Time or Industry?
AbstractWe study the degree of agglomeration of acquisition activity within clusters of temporal, geographic and industrial proximity based on almost 600,000 individual transactions. The findings indicate that significant clustering occurs in time and across industries, while the results on geographic clustering are mixed. This supports the view that merger waves are mostly driven by neoclassical motives.
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Bibliographic InfoPaper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number 1322.
Length: 7 p.
Date of creation: 2013
Date of revision:
Merger wave; clustering; acquisitions; neoclassical; behavioral;
Find related papers by JEL classification:
- L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
- G3 - Financial Economics - - Corporate Finance and Governance
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-09-13 (All new papers)
- NEP-COM-2013-09-13 (Industrial Competition)
- NEP-CSE-2013-09-13 (Economics of Strategic Management)
- NEP-GEO-2013-09-13 (Economic Geography)
- NEP-IND-2013-09-13 (Industrial Organization)
- NEP-URE-2013-09-13 (Urban & Real Estate Economics)
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