- Consulting Editors
- Introduction: The Good, The Bad, And The Ugly
- The Modern Capitalist World Economy: A Historical Overview
- Legal Institutions and Economic Development
- Capital Markets and Financial Politics: Preferences and Institutions
- The Four Types of Capitalism, Innovation, and Economic Growth
- The Dynamics of Capitalism
- The Role of Finance in Economic Development: Benefits, Risks, and Politics
- Property Rights and Capitalism
- Management and Governance of the Business Enterprise: Agency, Contracting, and Capabilities Perspectives
- Capitalism as A Mixed Economic System
- Monopoly Capitalism
- Agency Problems and the Fate of Capitalism
- Executive Compensation: Governance and the Financial Crisis
- Bubbles in Asset Prices
- Mergers and the Market for Corporate Control
- Dispersed Ownership: The Theories, the Evidence, and the Enduring Tension between “Lumpers” and “Splitters”
- The East Asian (mostly Japanese) model of Capitalism
- Refounding Capitalism
- Name Index
- Subject Index
Abstract and Keywords
This article begins by reviewing some stylized facts. These facts pose some puzzling questions that must be answered, if we are to understand the role mergers play in capitalist systems. It then turns to the evidence of their effects on profitability, efficiency, and shareholder wealth. This evidence is used to resolve some of the questions raised by the stylized facts about mergers.
Dennis C. Mueller is Professor of Economics, Emeritus, at the University of Vienna. Before coming to Vienna, he was at the University of Maryland, College Park. His research interests are industrial economic, public choice, and constitutional political economy.
Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.
If you have purchased a print title that contains an access token, please see the token for information about how to register your code.