A carregar...
Publicação
Restructuring and merger waves
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 2.35 MB | Adobe PDF |
Autores
Orientador(es)
Resumo(s)
Although merger waves are one of the most important market structures shaping forces, they have been the object of little theoretical investigation in industrial economics. This paper explains how the occurrence of industry merger waves is determined by the interplay between the synergy opportunities offered by mergers and the possibility to free-ride other firms’ mergers market power effects. This explanation arises in the context of a two-stage model in which mergers are endogenously determined before firms compete in the product ’s market. The endogenous market structure can either be excessively or insufficiently concentrated from a total surplus perspective.
Descrição
Palavras-chave
Merger waves Endogenous mergers Market structure Antitrust policy
Contexto Educativo
Citação
RODRIGUES, Vasco - Restructuring and merger waves. International Journal of Economic Theory. ISSN 1742-7363. Vol 10, n.º 4 (2014), p. 355-369
Editora
Wiley