“…Fourth, while previous studies use either Tobit or Ordinary Least Squares (OLS) regressions to examine the determinants of the volume and intensity of cross-border M&A activity (e.g., Rossi and Volpin, 2004;Ferreira et al, 2010;Erel, Liao, and Weisbach, 2012), I show that Zero-Inflated…”