Have there been any acquisitions or divestitures within last

英语翻译
Conclusions
Stock-based acquisitions are more common than any other forms of payment in (large) acquisitions.When the acquirer pays the target shareholders with its own shares,a relatively higher share price of the acquirer may provide economic gain for the acquiring firms’ shareholders.Using a sample of US mergers for the period of 1990-2010 we show that stock-based acquirers advertise more in pre-merger period to infiate the stock price.We do not find that cash-based acquirers have relatively higher advertising intensity prior to a merger.
4.英语翻译,向百度知道的英语达人提问
This may not be surprising,given that previous literature has found that advertising is related to higher stock price (and better performance).However,to our knowledge we are the first to document the link between advertising prior to a merger and the method of payment used in that merger.Finally,this paper examines whether stock-based acquirers increase their advertising intensity in the pre-merger period to gain economic benefit.It provides some evidence of the existence of an economic incentive for such strategic actions by the stock-based acquirers.

mergers and acquisitions什么意思
我知道merger是并购的意思,但后面那个acquisitions什么意思

The mergers and acquisitions market,in turn,will help catalyze improvements in the city's financ...
The mergers and acquisitions market,in turn,will help catalyze improvements in the city's financial market functions,structures and systems,as well as boosting badly needed adjustments to its economic structure.谁能帮我翻译一下这句话吗?最好分析一下as well as后面的句子结构!谢了