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| Author: | Golbe, D. White, L. |
| Title: | Catch a wave: the time series behavior of mergers |
| Journal: | Review of Economics and Statistics
1993 : AUG, VOL. 75:3, p. 493-499 |
| Index terms: | TIME SERIES MERGERS USA |
| Language: | eng |
| Abstract: | This paper offers a direct econometric test of the proposition that U.S. merger activity has occurred in waves. The authors fit a set of sine waves to the annual time series data on mergers and find that the sine curves generally provide significant explanatory power. The parameters are statistically significant and reasonable in magnitudes , and the implied timing of peaks and troughs in merger activity is close to the actual dates of of the peaks and troughs in the data. Thus, the data are consistent with a wave characterization. |
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