Permanent URL to this publication: http://dx.doi.org/10.5167/uzh-52356
Gaertner, Dennis; Halbheer, Daniel (2006). Are There Waves in Merger Activity After All? Working paper series / Socioeconomic Institute No. 414, University of Zurich.
This paper investigates the merger wave hypothesis for the US and the UK employing a Markov regime switching model. Using quarterly data covering the last thirty years, for the US, we identify the beginning of a merger wave in the mid 1990s but not the much-discussed 1980s merger wave. We argue that the latter finding can be ascribed to the refined methods of inference offered by the Gibbs sampling approach. As opposed to the US, mergers in the UK exhibit multiple waves, with activity surging in the early 1970s and the late 1980s.
433 downloads since deposited on 29 Nov 2011
110 downloads since 12 months
|Item Type:||Working Paper|
|Communities & Collections:||03 Faculty of Economics > Department of Economics
Working Paper Series > Socioeconomic Institute (former)
|Dewey Decimal Classification:||330 Economics|
|JEL Classification:||G34, C32, C11, C15|
|Deposited On:||29 Nov 2011 22:47|
|Last Modified:||09 Jul 2012 05:04|
|Series Name:||Working paper series / Socioeconomic Institute|
Users (please log in): suggest update or correction for this item
Repository Staff Only: item control page