Waves and persistence in merger and acquisition activity

被引：24

作者：

Barkoulas, JT

Baum, CF ^{[1
]}

Chakraborty, A

机构：

[1] Boston Coll, Dept Econ, Chestnut Hill, MA 02467 USA

[2] Louisiana Tech Univ, Dept Econ & Finance, Ruston, LA 71272 USA

[3] Charles River Associates, Boston, MA 02116 USA

来源：

ECONOMICS LETTERS | 2001年 / 70卷 / 02期

关键词：

mergers; acquisitions; long memory; persistence;

D O I：

10.1016/S0165-1765(00)00374-8

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Markov regime-switching and sine-wave models have been used to capture the apparent wave-like behavior in aggregate U.S. merger and acquisition (M and A) activity. In this paper we offer an alternative characterization of the dynamic structure in M and A activity as a strongly dependent or long-memory process. (C) 2001 Elsevier Science B.V. All rights reserved.

引用

页码：237 / 243

页数：7

共 11 条

[1] THE LONG MEMORY OF THE FORWARD PREMIUM [J].