We analyze the strategic use of the debt in a duopoly model of Cournot competition. We consider a two stage model where debt acts as a commitment variable and we characterize subgame perfect equilibria. We differ from several models based on the strategic value of the debt such as Wanzenried...

We consider an oligopolistic industry including leveraged firms and unleveraged ones where firms are engaged in a sequential decision-making process. At the first stage of the game, a firm and her bank, considering the demand uncertainty and the distribution probability of the shock, evaluate a...

<!--Début du contenu @xml:lang="en"-->?This article examines the influence of a private entrant? nationality upon its choice of market penetration when the incumbent (state-owned firm) is in charge of the Universal Service Obligations. ?<!--Fin du contenu @xml:lang="en"-->We compare the area of coverage freely chosen by each type of entrant to those that would prevail...

This paper analyses the profitability of horizontal mergers in a Stackelberg model and their impact on welfare when there is uncertainty about the marginal costs of the newly merged firms. The authors consider that the merging firms decide their production strategy knowing the actual value of...

Some path-breaking work on mergers takes efficiency gains for granted, or assumes that firms have perfect knowledge when taking merger decisions. In practice, firms and competition authorities cannot know exact future efficiency gains, prior to merger consummation. This paper analyzes horizontal...

The aim of this paper is to present, to analyze and to compare models in the field of industrial organization in which firms can strategically use their debt in order to influence the market structure or the degree of competition within the industry. The original feature of this particular trend...

[spa] PYMES y automatización : estudio econométrico, . por Bernard Franck y Olivier Gaussens.. . En el presente artículo se analiza la difusión de la automatización de la producción en las PYMES de la Región francesa de Baja Normandía. La difusión entre empresas se ve afectada...

A conceptual framework is proposed for analyzing how differences in national R&D stocks can impact on a firmÌs decision to internationalize its R&D activities. A central finding is that the integration of product markets can generate an added incentive to undertake R&D abroad. A three-stage...