Conglomerates

Conglomerate Firms and Internal Capital Markets

• “Conglomerate Industry Choice and Product Language” with Gerard Hoberg, Forthcoming: Management Science, 2018
• "Conglomerate Firms, Internal Capital Markets and the Theory of the Firm," with Vojislav Maksimovic. Annual Review of Financial Economics, Vol. 5: 225-244, 2013
• "Product Market Uniqueness and Stock Market Valuations," with Gerard Hoberg. working paper, 2014
• "The Industry Life-Cycle, Acquisitions and Investment: Does Firm Organization Matter?," with Vojislav Maksimovic. Journal of Finance, 2008, 63 673-707
• "Conglomerate Firms and Internal Capital Markets," with Vojislav Maksimovic. Handbook of Corporate Finance: Empirical Corporate Finance, ed. B. Espen Eckbo, Handbooks in Finance Series, Elsevier/North-Holland, 2007
• "Do Conglomerate Firms Allocate Resources Inefficiently Across Industries? Theory and Evidence," with Vojislav Maksimovic. Journal of Finance, 2002, 721-767

Mergers and Acquisitions

• “Extending Industry Specialization through Cross-Border Acquisitions,” [Download Internet Appendix], with Laurent Fresard and Uli Hege, Forthcoming: Review of Financial Studies 2017
• "Innovation Activities and the Incentives for Vertical Mergers and Vertical Integration," [Download Internet Appendix], with Laurent Fresard and Gerard Hoberg. working paper, 2015.
• "Public and Private Merger Waves," with Vojislav Maksimovic and Liu Yang. Journal of Finance, , 2013, Vol. 68, (5), 2177-2217.
• "R&D and the Incentives from Merger and Acquisition Activity," with Alexei Zhdanov. Review of Financial Studies, 2013, 26 (1) 34-78. Internet Appendix.
• "Post-Merger Restructuring and the Boundaries of the Firm," with Vojislav Maksimovic and N.R. Prabhala. Journal of Financial Economics, 2011, 102 317-43.
• "Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis," with Gerard Hoberg. Review of Financial Studies, 2010, 23 3773-3811.
• "The Industry Life-Cycle, Acquisitions and Investment: Does Firm Organization Matter?," with Vojislav Maksimovic. Journal of Finance, 2008, 63 673-707.
• "The Market for Corporate Assets: Who Engages in Mergers and Asset Sales and Are There Gains?," with Vojislav Maksimovic. Journal of Finance, 2001, 62019-2065 (lead article).