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This paper aims to build and empirically evaluate a discrete choice model of merger remedies as a basis for policy … analysis. The database consists of 229 merger cases accepted in Phase I or Phase II of the European merger process between 1990 …
Persistent link: https://www.econbiz.de/10013068862
Generalizing the idea that price momentum can be explained by different levels of uncertainty inherent in the information structure, we implement signal-specific differences in uncertainty in a Kyle type model of strategic trading. We derive the equilibrium in a single-auction setting as well as...
Persistent link: https://www.econbiz.de/10011952637
We examine whether data security affects the merger waves in the era of big data. Exploiting the staggered adoption of …
Persistent link: https://www.econbiz.de/10012828869
This paper considers a vertically separated industry with an upstream monopolist who supplies an essential input to two downstream Cournot firms. This situation is relevant to a number of sectors, including the telecommunications industry where trunk operators must have access to the local...
Persistent link: https://www.econbiz.de/10014215832
The problem of a monopolist firm that supplies an essential input to other firms that compete in the final downstream market is crucial in many utility industries that use a network. When downstream firms have different degrees of efficiency, then it could be feasible to charge them different...
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There is a growing concern that U.S. merger control may have been too lenient, but empirical evidence remains limited … reviewing the use and challenges of event studies in merger analysis, I use a novel application of Hoberg-Phillips (2010, 2016 ….S. mergers between 1997 and 2017. I document that following a merger announcement, the most likely competitors experience on …
Persistent link: https://www.econbiz.de/10012161053