We develop a search-based theory of mergers and acquisitions with heterogeneous firms and endogenous search complementarities. We use this model to understand how merger incentives and the firm size ...

Many mergers claim to be “transformative,” but history shows that most destroy shareholder value — often benefiting executives and bankers more than investors. Three recent deals illustrate differing ...

When it comes to mergers and acquisitions (M&A), 2025 has seen the most activity and some of the strongest returns since the post-pandemic period when dealmaking soared. Deal flow is a key driver of ...

College mergers are often framed as strategic decisions, but they rarely feel that way. Family theories can help us understand why institutional change feels personal and complex.