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Merger Policy in Digital Markets : An Ex-Post Assessment

Argentesi, Elena - 2020

This paper presents a broad retrospective evaluation of mergers and merger decisions in the digital sector. We first … theories of harm in major merger cases in the past few years. We then analyse the characteristics of almost 300 acquisitions … important merger cases, Facebook/Instagram and Google/Waze, providing a systematic assessment of the theories of harm considered …

Persistent link: https://www.econbiz.de/10012845689

The Effect of Mergers on Variety in Grocery Retailing

Argentesi, Elena; Cervone, Roberto; Duso, Tomaso; … - 2021

We study the effect of a merger between two Dutch supermarket chains to assess its effect on the depth as well as … composition of assortment. We adopt a difference-in-differences strategy that exploits local variation in the merger’s effects …, controlling for selection on observables through a matching procedure when defining our control group. We show that the merger led …

Persistent link: https://www.econbiz.de/10013222202

Distressed Acquisitions : Evidence from European Emerging Markets

Iwasaki, Ichirō; Kočenda, Evžen; Shida, Yoshisada - 2021

We analyze factors behind 23,213 distressed acquisitions in European emerging markets from 2007–2019. Besides the impact of financial ratios, legal form, ownership structure, firm size, and age, we emphasize the role of institutions and channels of their propagation. We show that the quality...

Persistent link: https://www.econbiz.de/10013231968

Mergers in the Digital Economy

Gautier, Axel - 2020

Over the period 2015-2017, the five giant technologically leading firms, Google, Amazon, Facebook, Amazon and Microsoft (GAFAM) acquired 175 companies, from small start-ups to billion dollar deals. By investigating this intense M&A, this paper ambitions a better understanding of the Big Five's...

Persistent link: https://www.econbiz.de/10012842674

Corporate Acquisitions and Firm-Level Uncertainty : Domestic versus Cross-Border Deals

Bai, Ye - 2020

-level uncertainty is characterized by a pecking order: the announcement of a domestic takeover leads to a reduction in the uncertainty …

Persistent link: https://www.econbiz.de/10012841927

Cross-border mergers and acquisitions : on revealed comparative advantage and merger waves

Brakman, Steven; Garretsen, Harry; van Marrewijk, Charles - 2005

By combining two large data sets (on international trade flows and on mergers and acquisitions – M&As), we are able to test two implications of Neary's (2003, 2004a) recent theoretical work. Analyzing M&As in a General Oligopolistic Equilibrium (GOLE) model incorporating strategic interaction...

Persistent link: https://www.econbiz.de/10010275774

Cross-border mergers & acquisitions: the facts as a guide for international economics

Brakman, Steven; Garretsen, Harry; van Marrewijk, Charles - 2006

Using a detailed and large data set on cross-border merger and acquisitions we discuss the relationship between theory …

Persistent link: https://www.econbiz.de/10010275794

Unlocking the value of cross-border mergers and acquisitions

Brakman, Steven; Garita, Gus; Garretsen, Harry; van … - 2008

Most FDI takes place between the developed countries, which suggests that the market-seeking motive is important for understanding FDI. However, given the stylized fact that trade barriers (e.g. transportation costs and financial barriers) have declined over the past 20 years, models that aim to...

Persistent link: https://www.econbiz.de/10010275800

Creative destruction and productive preemption

Norbäck, Pehr-Johan; Persson, Lars; Svensson, Roger - 2013

We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are more likely to be sold (or licensed) to an incumbent due to strategic product market effects on the sales price. Such preemptive acquisitions by incumbents are shown to stimulate...

Persistent link: https://www.econbiz.de/10010291511

Intellectual property rights, technology transfer and exports in developing countries

Yang, Lei; Maskus, Keith E. - 2008

We develop a model to analyze one mechanism under which stronger intellectual property rights (IPR) protection may improve the ability of firms in developing countries to break into export markets. A Northern firm with a superior process technology chooses either exports or technology transfer...

Persistent link: https://www.econbiz.de/10010264489