Sixth Annual Mergers and Acquisitions Research Centre Conference
- 27 June 2022
- •
- City, University of London
Watch the presentations here: https://www.youtube.com/playlist?list=PL0ysOguv9W0LjIx9h-ckWAKt9htFB_JdY
Mergers and Acquisitions Research Centre (MARC) and ECGI
2022 Sixth Annual Mergers and Acquisitions Research Centre Conference
Monday, 27 June 2022
08:30 - 17:30 BST (09:30 - 18:30 CEST)
Location
Bayes Business School (formerly Cass), London, UK
LG002 & LG003, Lower Ground Floor – 106 Bunhill Row, London EC1Y 8TZ
Organisers
Scott Moeller, Bayes Business School
Anh Tran, Bayes Business School
Paolo Volpin, Bayes Business School, Drexel University and ECGI
ABOUT THE EVENT
Since 2016, our annual M&A Research Centre (MARC) conference is among the most selective high-quality conferences in the field and has brought together cutting-edge research and practice on M&A by leading professors and industry experts around the world. The papers presented at our conference are at the forefront of knowledge and of high academic rigour, as evidenced by a high acceptance rate in the top three academic journals in accounting and finance. Topics span a broad array of issues related to M&A such as deal structure from financing to integration, activism, regulatory changes, domestic and cross border transactions and corporate social responsibility among others. Following the success of the Fifth Conference in 2021, the Sixth Mergers and Acquisitions Research Centre (MARC) Conference was held on 27 June 2022, again in cooperation with the European Corporate Governance Institute (ECGI).
As of January 2021, four out of eight papers presented at our first conference in 2016 have been published in the Journal of Finance and the Review of Financial Studies. Four out of seven papers presented at our second conference in 2017 have been published in the Journal of Financial Economics, the Review of Financial Studies, and the Journal of Accounting Research.
We were happy to return in 2022 to a conference format in which all the presenters and discussants attended in person, but for those unable to travel to London were able to live stream the conference
Information

Monday, 27 June 2022 | 08.30 BST (09:30 CEST)
Registration
Conference Opening
Speakers:
Session 1 | Chaired by
Speakers:
Does Regulatory Exposure Create M&A Synergies?
“Does Regulatory Exposure Create M&A Synergies?”
Presenter: Tom Griffin (Villanova University)
Co-authors: Eli Fich (Drexel University) and Joseph Kalmenovitz (Drexel University)
Discussant: Ronald Masulis (University of New South Wales)
Paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3966359
Speakers
Discussants
The (Un)intended Consequences of M&A Regulatory Enforcements
Speakers:
Discussant:
The (Un)intended Consequences of M&A Regulatory Enforcements
“The (Un)intended Consequences of M&A Regulatory Enforcements”
Presenter: Micah Officer (Loyola Marymount University)
Co-authors: Eric de Bodt (Norwegian School of Economics), Jean-Gabriel Cousin
(Université de Lille) and Richard Roll (California Institute of Technology)
Discussant: Andrey Golubov (University of Toronto)
Research paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4025495
Speakers
Discussants
Coffee Break
Session 2 | Chaired by
Speakers:
Winner’s Curse in Takeovers? Evidence from Investment Bank Valuation Disagreement
Speakers:
Discussant:
Winner’s Curse in Takeovers? Evidence from Investment Bank Valuation Disagreement
“Winner’s Curse in Takeovers? Evidence from Investment Bank Valuation Disagreement”
Presenter: Tingting Liu (Iowa State University)
Co-authors: Tao Shu (Chinese University of Hong Kong) and Jasmine Wang (University
of Virginia)
Discussant: Henri Servaes (London Business School)
Research paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3954130
Speakers
Discussants
Mergers under the Microscope: Analyzing Conference Call Transcripts
Speakers:
Discussant:
Mergers under the Microscope: Analyzing Conference Call Transcripts
Presenter: Jarrad Harford (University of Washington)
Co-authors: Sudipto Dasgupta (Chinese University of Hong Kong), Fangyuan Ma (Peking
University), Daisy Wang (Ohio State University) and Haojun Xie (Chinese
University of Hong Kong)
Discussant: Peter Haslag (Vanderbilt University)
Research paper: https://mays.tamu.edu/department-of-finance/wp-content/uploads/sites/2/2...
Speakers
Discussants
Lunch Break
Session 3 | Chaired by
Speakers:
Post-merger Restructuring of the Labor Force
Presenter: Stefan Obernberger (Erasmus University)
Co-authors: Britta Gehrke (University of Rostock), Ernst Maug (University of Manheim)
and Christoph Schneider (University of Münster)
Discussant: Dirk Jenter (London School of Economics)
Research paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3838865
Speakers
Discussants
Keynote Speech Introduction
Speakers:
Keynote speech: H2 Trends on M&A, Debt Issuance and Fund Raising
Speakers:
Keynote speech: H2 Trends on M&A, Debt Issuance and Fund Raising
Speakers
Coffee break
Session 4 | Chaired by
Speakers:
Climate Laws and Cross-border Mergers and Acquisitions
Speakers:
Discussant:
Climate Laws and Cross-border Mergers and Acquisitions
Presenter: Fei Xie (University of Delaware)
Co-authors: Dragon Yongjun Tang (University of Hong Kong) and Tong Li (University of
Hong Kong)
Discussant: Filippos Papakonstantinou (King’s College London)
Research paper: https://ecgi.global/sites/default/files/litangxie-climateandcrossborderm...
Speakers
Discussants
The Innovation Arms Race
Presenter: Muhammad Farooq Ahmad (SKEMA Business School) Co-authors: Eric de Bodt (Norwegian School of Economics) and Jarrad Harford (University of Washington) Discussant: Juanita Gonzalez-Uribe (London School of Economics)Presenter: Muhammad Farooq Ahmad (SKEMA Business School)
Co-authors: Eric de Bodt (Norwegian School of Economics) and Jarrad Harford
(University of Washington)
Discussant: Juanita Gonzalez-Uribe (London School of Economics)
Research paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3698936
Speakers
Discussants
Conference close
Dinner
Speakers
Presentations
Conference Opening
Conference Opening
Speakers
Session 1 | Chaired by
Session 1 | Chaired by
Speakers
Does Regulatory Exposure Create M&A Synergies?
Does Regulatory Exposure Create M&A Synergies?
“Does Regulatory Exposure Create M&A Synergies?”
Presenter: Tom Griffin (Villanova University)
Co-authors: Eli Fich (Drexel University) and Joseph Kalmenovitz (Drexel University)
Discussant: Ronald Masulis (University of New South Wales)
Paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3966359
Speakers
Discussants
The (Un)intended Consequences of M&A Regulatory Enforcements
The (Un)intended Consequences of M&A Regulatory Enforcements
“The (Un)intended Consequences of M&A Regulatory Enforcements”
Presenter: Micah Officer (Loyola Marymount University)
Co-authors: Eric de Bodt (Norwegian School of Economics), Jean-Gabriel Cousin
(Université de Lille) and Richard Roll (California Institute of Technology)
Discussant: Andrey Golubov (University of Toronto)
Research paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4025495
Speakers
Discussants
Session 2 | Chaired by
Session 2 | Chaired by
Speakers
Winner’s Curse in Takeovers? Evidence from Investment Bank Valuation Disagreement
Winner’s Curse in Takeovers? Evidence from Investment Bank Valuation Disagreement
“Winner’s Curse in Takeovers? Evidence from Investment Bank Valuation Disagreement”
Presenter: Tingting Liu (Iowa State University)
Co-authors: Tao Shu (Chinese University of Hong Kong) and Jasmine Wang (University
of Virginia)
Discussant: Henri Servaes (London Business School)
Research paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3954130
Speakers
Discussants
Mergers under the Microscope: Analyzing Conference Call Transcripts
Mergers under the Microscope: Analyzing Conference Call Transcripts
Presenter: Jarrad Harford (University of Washington)
Co-authors: Sudipto Dasgupta (Chinese University of Hong Kong), Fangyuan Ma (Peking
University), Daisy Wang (Ohio State University) and Haojun Xie (Chinese
University of Hong Kong)
Discussant: Peter Haslag (Vanderbilt University)
Research paper: https://mays.tamu.edu/department-of-finance/wp-content/uploads/sites/2/2...
Speakers
Discussants
Session 3 | Chaired by
Session 3 | Chaired by
Speakers
Post-merger Restructuring of the Labor Force
Post-merger Restructuring of the Labor Force
Presenter: Stefan Obernberger (Erasmus University)
Co-authors: Britta Gehrke (University of Rostock), Ernst Maug (University of Manheim)
and Christoph Schneider (University of Münster)
Discussant: Dirk Jenter (London School of Economics)
Research paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3838865
Speakers
Discussants
Keynote Speech Introduction
Keynote Speech Introduction
Speakers
Keynote speech: H2 Trends on M&A, Debt Issuance and Fund Raising
Keynote speech: H2 Trends on M&A, Debt Issuance and Fund Raising
Speakers
Session 4 | Chaired by
Session 4 | Chaired by
Speakers
Climate Laws and Cross-border Mergers and Acquisitions
Presenter: Fei Xie (University of Delaware)
Co-authors: Dragon Yongjun Tang (University of Hong Kong) and Tong Li (University of
Hong Kong)
Discussant: Filippos Papakonstantinou (King’s College London)
Research paper: https://ecgi.global/sites/default/files/litangxie-climateandcrossborderm...
Speakers
Discussants
The Innovation Arms Race
The Innovation Arms Race
Presenter: Muhammad Farooq Ahmad (SKEMA Business School) Co-authors: Eric de Bodt (Norwegian School of Economics) and Jarrad Harford (University of Washington) Discussant: Juanita Gonzalez-Uribe (London School of Economics)Presenter: Muhammad Farooq Ahmad (SKEMA Business School)
Co-authors: Eric de Bodt (Norwegian School of Economics) and Jarrad Harford
(University of Washington)
Discussant: Juanita Gonzalez-Uribe (London School of Economics)
Research paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3698936