The promise and challenge of comparative effectiveness research
Amitabh Chandra, Anupam B. Jena, Jonathan S Skinner, 19 June 2011How much healthcare to provide and how to pay for it are two questions at the heart of the public sector. This column argues that by...
View ArticleCross-border banking in Europe
Franklin Allen, Thorsten Beck, Elena Carletti, Philip Lane, Dirk Schoenmaker, Wolf Wagner, 20 June 2011The global crisis has provided compelling evidence of the need to understand the role of banks in...
View ArticleLost in transmission
Heleen Mees, 21 June 2011With the US economy still faltering, some are suggesting it may be time for a third round of quantitative easing. This column explores the transmission mechanism of monetary...
View ArticleDo Investment Banks Matter for M&A Returns?
We document a significant investment bank fixed effect in the announcement returns of M&A deals. The interquartile range of bank fixed effects is 1.26%, compared with a full-sample average return...
View ArticleAnticipation, Acquisitions, and Bidder Returns: Industry Shocks and the...
We document market anticipation of merger bids and show that less anticipated bids earn significantly higher announcement returns. Subsequent bidders in the industry experience significant and positive...
View ArticleMergers, Spinoffs, and Employee Incentives
This article studies mergers between competing firms and shows that while such mergers reduce the level of product market competition, they may have an adverse effect on employee incentives to...
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