One of the most consequential events in any firm’s lifetime is a major acquisition. Because of their importance, mergers and acquisitions (M&A) have been researched extensively. The vast majority of research and survey papers have focused on domestic deals. However, cross-border M&A constitutes about 30% of the total number and 37% of the total volume… Read More »
Does democracy shape international merger activity? The short answer is yes, because democratic institutions are conducive to higher-quality corporate governance. In a new paper, we examine 104,425 cross-border transactions in 58 countries from the mid-1980s and find merger flows involve acquirers from more democratic countries than their targets. This result is primarily driven by a… Read More »
Introduction Special-Purpose Acquisition Companies (SPACs) have been widely discussed over the past year. According to the U.S. Securities and Exchange Commission (SEC), a SPAC is created specifically to pool funds in order to finance a merger or acquisition opportunity within a set time frame. A SPAC has 24 months after the initial public offering (IPO)… Read More »
Several proposals in the House and Senate are aimed at substantially curbing M&A (Mergers and Acquisitions) activity as part of changes focused on antitrust. In a recent study, titled “Mergers, Antitrust, and the Interplay of Entrepreneurial Activity and the Investments That Fund it”, we shed light on the possible implications to startup-driven innovation, in general,… Read More »
|