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Elsevier, Economics Letters, 2(70), p. 237-243

DOI: 10.1016/s0165-1765(00)00374-8

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Waves and Persistence in Merger and Acquisition Activity

Journal article published in 2001 by John T. Barkoulas, Christopher F. Baum ORCID, Atreya Chakraborty
This paper is available in a repository.
This paper is available in a repository.

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Abstract

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.