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 chapter surveys the recent empirical literature and adds to the evidence on takeover
bids for US targets, 1980–2005. The availability of machine readable transaction databases …

Aggregate merger waves could be due to market timing or to clustering of industry shocks for
which mergers facilitate change to the new environment. This study finds that economic …

To test recent theories suggesting that valuation errors affect merger activity, we develop a
decomposition that breaks the market-to-book ratio (M/B) into three components: the firm …

Does valuation affect mergers? Data suggest that periods of stock merger activity are
correlated with high market valuations. The naïve explanation that overvalued bidders wish …

A general purpose technology or GPT is a term coined to describe a new method of
producing and inventing that is important enough to have a protracted aggregate impact …

The quiet life hypothesis posits that firms with market power incur inefficiencies rather than
reap monopolistic rents. We propose a simple adjustment to Lerner indices to account for …

This paper provides an overview of the literature on private equity and leveraged buyouts,
focusing on global evidence related to both governance and returns to private equity and …

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 …

We investigate the corpus of literature on firm exit by means of a systematic literature review
(SLR) which yields a final sample of 142 journal articles for the period 1991–2020. The …