The book examines the market reaction to mergers and acquisitions (M&A;) announcements over a period from 2003 to 2015. Mergers and acquisitions continue to be amongst the preferred competitive options available to the companies seeking to grow fast in the rapidly changing global business scenario. M&A; as a growth strategy has received attention from developed as well as emerging economies. It has been extensively used by managers as an expansion strategy and also serves as an important instrument for increasing corporate efficiency. Recently, M&A; has grown at a rapid pace, creating a need for research to analyze what drives this phenomenon and how it affects firms