and profitability. We find that the "merger paradox" (Salant, Switzer and Reynolds 1983) is absent in these markets. The … merger. This may explain the emergence of brand conglomerates such as Richemont, PPR or LVMH. -- Brand portfolios ; merger …, im Hinblick auf Preisbildung und Rentabilität. Wir können dabei feststellen, dass das "merger paradox" (Salant, Switzer …

We study the profitability incentives of merger and the endogenous industry structure in a strategic trade policy … environment. Merger changes the strategic trade policy equlilibrium. We show that merger can be profitable and welfare enhancing …. incentives to give subsidies to their local firms. National merger induces more strategic trade policy, whereas international …

are linear. The results help to reconcile theory with various empirical findings on mergers. -- efficient hedging …

The seminal paper by Salant, Switzer and Reynolds (1983) showed that merger in a standard Cournot framework with linear … demand and linear costs is not profitable unless a large majority of the firms are involved in the merger. However, many … recurring to cost savings of merger. Firms interact with each other, with customers, suppliers, their owners, and with …