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Kastrinaki, Zafeira and Stoneman, Paul. (2012) The drivers of merger waves. Economics Letters, Vol.117 (No.2). pp. 493-495. ISSN 0165-1765
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WRAP_Stoneman_031212-merger_hazard_paper_econ_letters_june_2012_rev_b.pdf - Accepted Version Download (305Kb) | Preview |
Official URL: http://dx.doi.org/10.1016/j.econlet.2012.06.043
Abstract
A reduced form hazard rate model of merger timing, estimated using a uniquely constructed 1990–2004 UK panel data set, shows clear correlations between the observed wave-like pattern of merger activity and both exogenous and endogenous drivers with firm characteristics acting as intermediaries.
| Item Type: | Journal Article |
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| Subjects: | H Social Sciences > HF Commerce |
| Divisions: | Faculty of Social Sciences > Warwick Business School > Strategy & International Business |
| Library of Congress Subject Headings (LCSH): | Consolidation and merger of corporations -- Econometric models |
| Journal or Publication Title: | Economics Letters |
| Publisher: | Elsevier |
| ISSN: | 0165-1765 |
| Official Date: | 2012 |
| Volume: | Vol.117 |
| Number: | No.2 |
| Page Range: | pp. 493-495 |
| Identification Number: | 10.1016/j.econlet.2012.06.043 |
| Status: | Peer Reviewed |
| Publication Status: | Published |
| Access rights to Published version: | Restricted or Subscription Access |
| References: | Cabral, I., 2002. A Herding Approach to Merger Waves. EUI Working Paper, ECO no. 2002/26. |
| URI: | http://wrap.warwick.ac.uk/id/eprint/50945 |
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