Showing 1 - 10 of 12,931
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 …
Persistent link: https://www.econbiz.de/10011549386
Numerous external growths have significant consequences on the structure of the firm. It asks the question of an acquisition competence existing in the firm. Must this competence remain project oriented? Is it possible to implement a formal structure, as we do for marketing or logistic? This...
Persistent link: https://www.econbiz.de/10012725546
, merger laws and enforcement practices, econometric methods for analyzing prospective horizontal mergers, and evidence …
Persistent link: https://www.econbiz.de/10014024580
inputs and outputs. Results are mixed for outcomes related to variety and product quality. Literature on merger effects on … derive a number of ideas and options for merger policy. …
Persistent link: https://www.econbiz.de/10014310467
Previous work on exit in declining industries has neglected mergers. We examine a simple model that predicts which declining industries experience horizontal mergers. Mergers are more likely if 1) market concentration is high; 2) the inverse demand curve is steep at high levels of output and...
Persistent link: https://www.econbiz.de/10011569023
when taking merger decisions. In practice, firms and competition authorities cannot know exact future efficiency gains …, prior to merger consummation. This paper analyzes horizontal mergers when the output decision-making process is sequential … of "Merger Approval", the paper emphasizes the timing of regulatory intervention and distinguishes two different merger …
Persistent link: https://www.econbiz.de/10010221710
exact amount of cost efficiency/inefficiency that will result from the merger. Nevertheless, the key element of the model is … always have incentives to merge, irrespective of cost uncertainty, while a merger without role redistribution is ex ante … merger between leaders always enhances welfare if participants have incentives to merge, such that private and collective …
Persistent link: https://www.econbiz.de/10010362519
In contrast to empirical evidence, recent theories of cross-border mergers and acquisitions (M&As) assume perfect knowledge transfers – from high to low productivity firms – between acquirer and target. Using the Melitz (2003) model of heterogeneous firms, we develop a matching model of...
Persistent link: https://www.econbiz.de/10012914676
addition to standard merger price effects. ccGUPPI is sufficient to correctly predict whether a merger of capacity … full merger simulation …
Persistent link: https://www.econbiz.de/10012896939
This paper explains why consolidation acquisitions occur in waves and it predicts the differing role each firm is likely to play in the consolidation game. We propose that whether a firm assumes the role of rival consolidator, target, or passive observer depends on the position of the firm...
Persistent link: https://www.econbiz.de/10011372521