within the firm. The welfare analysis illustrates that larger countries are better off after the merger. By contrast, smaller … countries may lose, if the pre-merger production cost differential across firms is negligible and/or a post-merger technology … effects of a merger. In this respect, the main result of the paper is that an adjustment of plant location in space can …

In this paper we compare the profitability of a merger to the profitability of a partial ownership arrangement and find …

do not necessarily distort international ownership patterns. Moreover, tax competition yields globally efficient levels …

The U.S. and EU Merger Guidelines strongly emphasize the relevance of the “ease of entry” argument in merger … number of firms in related product markets. Finally, our results confirm that post-merger changes in the equilibrium number …

Merger value is frequently evaluated in single market contexts without considering possible gains stemming from firms … multimarket firms create incremental value. We establish a simple theoretical model that determines merger value in a multimarket … firm environment. The model enables us to derive merger values as being independent of post-merger market shares, but …

Using a detailed and large data set on cross-border merger and acquisitions we discuss the relationship between theory …-seeking', (iii) M&As come in waves (the most recent wave is still unfolding), (iv) economic integration (international deregulation … stylized facts drive and should drive recent theoretical contributions in the field of international economics that try to …