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Mark-Up Pricing in Mergers and Acquisitions
Schwert, G. William - 1994
This paper studies the premiums paid in successful tender offers and mergers involving NYSE and Amex-listed target firms from 1975-91 in relation to pre-announcement stock price runups. It has been conventional to measure corporate control premiums including the price runups that occur before...
Persistent link: https://www.econbiz.de/10012474048
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Understanding Markups in the Open Economy under Bertrand Competition
de Blas, Beatriz - 2010
The purpose of this paper is to understand the effects of endogenous markups and trade costs on the pricing behavior of exporters when firms are heterogeneous in productivity. Using new analytical distributions for markups under Bertrand competition, we uncover Ricardian patterns of export...
Persistent link: https://www.econbiz.de/10012462070
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An Experimental Approach to Merger Evaluation
Conlon, Christopher T. - 2013
The 2010 Department of Justice and Federal Trade Commission Horizontal Merger Guidelines lay out a new standard for … cases in which the GUPPI would imply increased regulatory scrutiny of a proposed merger …
Persistent link: https://www.econbiz.de/10012458959
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The Price Effects of a Large Merger of Manufacturers : A Case Study of Maytag-Whirlpool
Ashenfelter, Orley C. - 2011
appliance markets most affected by the merger to markets where concentration changed much less or not at all. We estimate price …
Persistent link: https://www.econbiz.de/10012461181
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How Offshore Financial Competition Disciplines Exit Resistence by Incentive-Conflicted Bank Regulators
Kane, Edward J. - 1999
This paper studies the impact of technological change and regulatory competition on governmental efforts to generate rents for banks in two stylized regulatory environments. In the first environment, incentive-conflicted regulators attempt to create rents by restricting the size and scope of...
Persistent link: https://www.econbiz.de/10012471631
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Antitrust and Competition in Health Care Markets
Gaynor, Martin - 1999
In this paper we review issues relating to antitrust and competition in health care markets. The paper begins with a brief review of antitrust legislation. We then discuss whether and how health care is different from other industries in ways that might affect the optimality of competition. The...
Persistent link: https://www.econbiz.de/10012471682
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Mergers and Marginal Costs : New Evidence on Hospital Buyer Power
Craig, Stuart - 2018
We estimate the effects of horizontal mergers on marginal cost efficiencies - an ubiquitous merger justification … mechanisms underlying "buyer power." We find that merger target hospitals save on average $176 thousand (or 1.5 percent) annually …
Persistent link: https://www.econbiz.de/10012480581
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Concentration Screens for Horizontal Mergers
Nocke, Volker - 2020
Concentration-based screens for horizontal mergers, such as those employed in the US DOJ and FTC Horizontal Merger … Guidelines, play a central role in merger analysis. However, the basis for these screens, in both form and level, remains unclear …
Persistent link: https://www.econbiz.de/10012481388
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Evidence of Regulatory Arbitrage in Cross-Border Mergers of Banks in the EU
Carbo-Valverde, Santiago - 2009
banks in individual EU countries help to explain the nature of cross-border merger activity. If they wish to protect …
Persistent link: https://www.econbiz.de/10012463202
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Dynamic Merger Review
Nocke, Volker - 2008
We analyze the optimal dynamic policy of an antitrust authority towards horizontal mergers when merger proposals are … endogenous and occur over time. Approving a currently proposed merger will affect the profitability and welfare effects of … surplus by using a completely myopic merger review policy that approves a merger today if and only if it does not lower …
Persistent link: https://www.econbiz.de/10012464121