Showing 1 - 10 of 57
According to the well-known “merger paradoxâ€, in a Cournot market game mergers are generally unprofitable unless … most firms merge. The present paper proposes an optimal merger mechanism. With this mechanism mergers are never …
Persistent link: https://www.econbiz.de/10010929705
In an industry where regulated firms interact with unregulated suppliers, we investigate the welfare effects of a merger between regulated firms when cost synergies are uncertain before the merger and their realization becomes private information of the merged firm. The optimal merger policy...
Persistent link: https://www.econbiz.de/10011252548
The objective of this paper is to analyze the efficiency of the Italian Banking System over the period 2006-2010. By applying the Stochastic Frontier Approach (SFA) to a panel of 700 banks, the analysis is based on the joint estimation of a cost function and an efficiency equation (Battese and...
Persistent link: https://www.econbiz.de/10011259215
In this paper we analyze incentives for a potential entrant to get into an oligopolistic Cournot-like market by taking over one of the incumbents and we derive the conditions under which the hostile merger is possible and profitable. The key-feature is that the target of the takeover is...
Persistent link: https://www.econbiz.de/10005014712
strategies of mergers and acquisitions. …
Persistent link: https://www.econbiz.de/10009246884
to assess the welfare implications of proposed mergers and partial divestitures. …
Persistent link: https://www.econbiz.de/10008728045
In this paper we study mergers in two-sided industries. While mergers have been studied extensively in traditional … examining mergers in these markets. We present a model that shows that mergers in two-sided markets may not necessarily lead to … higher prices for either side of the market. We test our conclusions by examining a spate of mergers in the Canadian …
Persistent link: https://www.econbiz.de/10005835452
This study is undertaken to investigate the extent to which mergers lead to efficiency by which services are provided …
Persistent link: https://www.econbiz.de/10005837412
Imagine that you have reached the pinnacle of your career, and you are sitting in the driver’s seat of a multi-billion dollar enterprise. Business is good, sales are up, and the stock market responds to your company’s performance. In such circumstances, a chief executive officer (CEO) may...
Persistent link: https://www.econbiz.de/10008549644
The theoretical literature suggests that there should be a bi-directional relationship between investment and mergers … in high-income countries, cross-border mergers tend to Granger cause investment, while in low- to middle-income countries …, investment Granger causes mergers. …
Persistent link: https://www.econbiz.de/10008529256