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A New Retrospective on Mergers

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  • F. Scherer

Abstract

This paper is based on my keynote address given at the 2006 International Industrial Organization Conference in Boston, April 8, 2006. I survey long-run trends in mergers, review the debate over the economic success of mergers generally, and examine the changing treatment that business schools have accorded mergers over the past five decades. A final section is a time series analysis of links at the U.S. macroeconomic level between changes in merger activity and labor productivity growth. Copyright Springer 2006

Suggested Citation

  • F. Scherer, 2006. "A New Retrospective on Mergers," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 28(4), pages 327-341, June.
    • Handle: RePEc:kap:revind:v:28:y:2006:i:4:p:327-341
    DOI: 10.1007/s11151-006-9105-9
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    References listed on IDEAS

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    1. Michael Waterson (ed.), 2003. "Competition, Monopoly and Corporate Governance," Books, Edward Elgar Publishing, number 2820, June.
    2. Jensen, Michael C, 1988. "Takeovers: Their Causes and Consequences," Journal of Economic Perspectives, American Economic Association, vol. 2(1), pages 21-48, Winter.
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    Cited by:

    1. Russell Pittman, 2007. "Consumer Surplus as the Appropriate Standard for Antitrust Enforcement," EAG Discussions Papers 200709, Department of Justice, Antitrust Division.
    2. Bin Ke & Lin Qiu & Tianshu Qu & Evelyn Gay & Sarah Hian May Chan & Jose Yong, 2025. "CEOs’ online personality and their company’s business strategy: openness to experience predicts diversifying merger and acquisition decisions," Journal of Computational Social Science, Springer, vol. 8(2), pages 1-19, May.
    3. Gábor Péli & Hans Schenk, 2015. "Organizational decision-maker bias supports merger wave formation: demonstration with logical formalization," Quality & Quantity: International Journal of Methodology, Springer, vol. 49(6), pages 2459-2480, November.
    4. Simon Deakin & Ajit Singh, 2009. "The Stock Market, the Market for Corporate Control and the Theory of the Firm: Legal and Economic Perspectives and Implications for Public Policy," Chapters, in: Per-Olof Bjuggren & Dennis C. Mueller (ed.), The Modern Firm, Corporate Governance and Investment, chapter 9, Edward Elgar Publishing.
    5. Scherer, F. M., 2007. "Corporate Structure and the Financial Support of U.S. Symphony Orchestras," Working Paper Series rwp07-002, Harvard University, John F. Kennedy School of Government.
    6. Ajit Singh, 2012. "Financial Globalization and Human Development," Journal of Human Development and Capabilities, Taylor & Francis Journals, vol. 13(1), pages 135-151, February.
    7. Sumit K. Majumdar, 2021. "Horizontal shareholding, technology, and compensation: An evaluation," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(7), pages 1836-1848, October.
    8. Stephen Martin, 2012. "Market Structure and Market Performance," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 40(2), pages 87-108, March.
    9. Ajit Singh, 2008. "Stock Markets in Low and Middle Income Countries," Working Papers wp377, Centre for Business Research, University of Cambridge.
    10. F. M. Scherer, 2020. "Managerial Control and Executive Compensation," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 56(2), pages 315-327, March.
    11. PELI, Gábor & SCHENK, Hans, 2011. "Organizational decision-maker bias supports market wave formation: Evidence with logical formalization," Working Papers 2011006, University of Antwerp, Faculty of Business and Economics.
    12. Simon Deakin, 2010. "Understanding Corporate Governance Default Rules," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 166(1), pages 54-57, March.
    13. Julia González & Jorge Lemus & Guillermo Marshall, 2024. "Mergers and organizational disruption: Evidence from the US airline industry," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 33(1), pages 111-130, January.

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