Budzinski, Oliver; Kretschmer, Jürgen-Peter - 2015
Standard analysis of mergers in oligopolies along the lines of the popular Farrell-Shapiro-Framework (FSF) relies … mergers. If this assumption held, a positive external effect of a proposed merger would represent a sufficient condition to … allow the merger. However, the empirical picture on mergers and acquisitions reveals a significant share of unprofitable …