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| Type | Working Paper |
| Scope | Discipline-based scholarship |
| Title | Are There Waves in Merger Activity After All? |
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| Institution | University of Zurich |
| Series Name | Working paper series / Socioeconomic Institute |
| Number | No. 414 |
| Date | 2006 |
| Abstract Text | 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. |
| Official URL | http://www.econ.uzh.ch/wp.html |
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