This paper reviews the vast academic literature on the market for corporate control. Our main
focus is the cyclical wave pattern that this market exhibits. We address the following …

This paper provides an overview of the academic literature on the market for corporate
control, and focuses specifically on firms' performance around and after a takeover. Despite …

Political and regulatory uncertainty is strongly negatively associated with merger and
acquisition activity at the macro and firm levels. The strongest effects are for uncertainty …

Purpose–This paper aims to review the relevant literature on mergers and acquisitions in an
attempt to provide a comprehensive account of what we know about mergers and which …

We study how firms differ from their competitors using new time-varying measures of product
similarity based on text-based analysis of firm 10-K product descriptions. This year-by-year …

Using a large and unique patent‐merger data set over the period 1984 to 2006, we show
that companies with large patent portfolios and low R&D expenses are acquirers, while …

We use text-based analysis of 10-K product descriptions to examine whether firms exploit
product market synergies through asset complementarities in mergers and acquisitions …

We study the effect of corporate cultural similarity on merger decisions and outcomes. Using
the similarity in firms' corporate social responsibility characteristics to proxy for cultural …

We construct a measure of the pairwise relatedness of firms' human capital to examine
whether human capital relatedness is a key factor in mergers and acquisitions. We find that …

We investigate the functioning of internal capital markets in Indian Business Groups. We
document that intragroup loans are an important means of transferring cash across group …