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Working Paper
Conglomeration versus strategic focus: evidence from the insurance industry
Zi, Hongmin; Cummins, J. David; Berger, Allen N.; Weiss, Mary A. (1999)
We use data on U.S. insurance companies to examine the validity of the conglomeration hypothesis versus the strategic focus hypothesis for financial institutions. We distinguish between the hypotheses using profit scope economies, which measures the relative efficiency of joint versus specialized production, taking both costs and revenues into account. The results suggest that the conglomeration hypothesis dominates for some types of financial service providers and the strategic focus hypothesis dominates for other types. This may explain the empirical puzzle of why joint producers and ...
Finance and Economics Discussion Series , Paper 1999-40

Journal Article
Statement to Congress, June 3, 1998, (antitrust issues related to mergers and acquisitions).
Meyer, Laurence H. (1998-08)
Federal Reserve Bulletin , Issue Aug , Pages 619-627

Working Paper
Entry-deterring debt
McAndrews, James J.; Nakamura, Leonard I. (1989)
Working Papers , Paper 89-15

Conference Paper
Should merger policy be changed? An antitrust perspective
Adams, William James (1987)
Conference Series ; [Proceedings] , Volume 31 , Pages 173-198

Journal Article
Corporate mergers and the business cycle
Becketti, Sean (1986-05)
Economic Review , Volume 71 , Issue May , Pages 13-26

Working Paper
The effects of past entry, market consolidation, and expansion by incumbents on the probability of entry
Amel, Dean F.; Adams, Robert M. (2007)
The threat of entry is an important factor in the evaluation of the potential competitive effects of proposed mergers and acquisitions. In the evaluation of proposed bank mergers, a high probability of entry, or strong potential competition, is often found to mitigate the potential anticompetitive effect of a proposed horizontal merger. Because the probability of entry is not directly observed for each local market, variables such as per capita income, population growth and past entry are typically used to predict the probability of future entry. This study extends previous research on the ...
Finance and Economics Discussion Series , Paper 2007-51

Conference Paper
The dynamics of market entry: the effects of mergers and acquisitions on de novo entry in banking
Bonime, Seth D.; White, Lawrence J.; Berger, Allen N.; Goldberg, Lawrence G. (1999)
Proceedings , Paper 612

Report
Board structure, antitakeover provisions, and stockholder wealth
Mahoney, Joseph T.; Mahoney, James M.; Sundaramurthy, Chamu (1995)
This paper's regression analyses from a sample of 261 firms that adopted 486 antitakeover provisions (supermajority, classified boards, fair-price, reduction in cumulative voting, anti-greenmail and poison pills) in the 1984-1988 period indicate that the negative market reactions to antitakeover provisions vary depending on firms' board structures. This paper's empirical evidence indicates that while separating the positions of CEO and chairperson of the board reduces the negative effect, increased outsider representation increases negative market reactions.
Research Paper , Paper 9516

Newsletter
Buyouts and bondholders
Fortier, Diana (1989-01)
Chicago Fed Letter , Issue Jan

Journal Article
Assessing the fairness of investment bankers' fees
Hunter, William C.; Walker, Mary Beth (1988-03)
Economic Review , Issue Mar , Pages 2-7

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