Shareholder Optimism

Shareholders’ Expectations, Aspiration Levels and Mergers
  • Enrico Diecidue
  • Jeroen van de Ven
  • Utz Weitzel


In the last two decades, significant resources have been spent on corporate mergers. At the beginning of the 1980s, US mergers and acquisitions (M&As) amounted to an average of 3.6% of the country’s gross domestic product (GDP) (Weston et al., 2004). By 1995, M&A activity has reached 5% of GDP and equated to about 48% of non-residential gross investment (Andrade et al., 2001). Records peaked in 1999 at 15.4% of GDP (Weston et al., 2004) and even after the downturn that followed in the USA a total of $1.24 trillion (and $2.56 trillion globally) changed hands in 2006 alone.


Gross Domestic Product Financial Economic Agency Cost Internal Project Aspiration Level 
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Copyright information

© Enrico Diecidue, Jeroen van de Ven and Utz Weitzel 2013

Authors and Affiliations

  • Enrico Diecidue
  • Jeroen van de Ven
  • Utz Weitzel

There are no affiliations available

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