On the patterns and wealth effects of vertical mergers
We use industry commodity flows information to measure vertical relations in completed
mergers from 1962 to 1996. Almost one‐third of the mergers display vertical relatedness.
Vertical merger activity is more intensive in the 1980s and 1990s and less so in the 1960s
and the 1970s. Vertical mergers generate positive wealth effects that are significantly larger
than those for diversifying mergers; the wealth effects in vertical mergers are comparable to
those in pure horizontal mergers.
mergers from 1962 to 1996. Almost one‐third of the mergers display vertical relatedness.
Vertical merger activity is more intensive in the 1980s and 1990s and less so in the 1960s
and the 1970s. Vertical mergers generate positive wealth effects that are significantly larger
than those for diversifying mergers; the wealth effects in vertical mergers are comparable to
those in pure horizontal mergers.
[引用][C] On the patterns and wealth effect of vertical mergers
V Goyal, PH Fan - American Finance Association (AFA) Meetings …, 2006 - repository.ust.hk
On the patterns and wealth effect of vertical mergers - HKUST SPD | The Institutional
Repository … On the patterns and wealth effect of vertical mergers … On the patterns and
wealth effects of vertical mergers …
Repository … On the patterns and wealth effect of vertical mergers … On the patterns and
wealth effects of vertical mergers …
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