This paper focuses on the efficiency of target-company investment decisions before and after Merger & Acquisition deals. We study whether M&A deals help to solve the problem of suboptimal investment after the acquisition. Using a sample of 145 target companies from BRICS countries that were acquired during the period 2004-2014. we outline those that had over- or underinvested before t... https://www.roneverhart.com/Air-Music-Technology-Vacuum-Pro-Virtual-Instrument-p8397/