The Incredible Shrinking Universe of US Stocks – Credit Suisse

The U.S. public equity market has evolved dramatically over the past 40 years. This is important because the U.S. equity market is 53 percent of the global stock market as of December 31, 2016. The main feature of this change is a sharp fall in the number of listed equities since 1996, which was preceded…

A Checklist for Assessing Mergers & Acquisitions – Credit Suisse

Companies spend more on mergers and acquisitions (M&A) than any other alternative for capital allocation. For many companies, M&A is the most significant and costliest course to redistribute corporate resources and pursue strategic goals. Since 1995, M&A volume has averaged 8 percent of the equity market capitalization in the U.S. and the world. As a…