Szücs, Florian (2016) The Triggers and Clustering Properties of Merger Waves. Applied Economics, 48 (56). pp. 5485-5496. ISSN 0003-6846
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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.
Item Type: | Article |
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Additional Information: | This is an Accepted Manuscript of an article published by Taylor & Francis in Applied Economics on 04 May 2016, available online: http://www.tandfonline.com/10.1080/00036846.2016.1178849. |
Keywords: | merger wave / clustering / acquisitions / industry shocks / behavioral |
Classification Codes: | JEL L2, G3 |
Divisions: | Departments > Volkswirtschaft Departments > Volkswirtschaft > Quantitative Volkswirtschaftslehre |
Version of the Document: | Accepted for Publication |
Variance from Published Version: | Typographical |
Depositing User: | Elena Simukovic |
Date Deposited: | 05 Sep 2017 15:13 |
Last Modified: | 05 Dec 2017 10:20 |
Related URLs: | |
FIDES Link: | https://bach.wu.ac.at/d/research/results/76675/ |
URI: | https://epub.wu.ac.at/id/eprint/5728 |
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