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Oligopoly, macroeconomic performance, and competition policy
Azar, José; Vives, Xavier - 2018
We develop a macroeconomic framework in which firms are large and have market power with respect to both products and labor. Each firm maximizes a share-weighted average of shareholder utilities, which makes the equilibrium independent of price normalization. In a one-sector economy, if returns...
Persistent link: https://www.econbiz.de/10011891742
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A New Look at Oligopoly : Implicit Collusion Through Portfolio Diversification
Azar, Jose - 2012
In this paper, I develop a model of oligopoly with shareholder voting. Instead of assuming that firms maximize profits … monopolist. In a model of general equilibrium oligopoly with shareholder voting, higher levels of wealth inequality and …
Persistent link: https://www.econbiz.de/10013111678
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General equilibrium oligopoly and ownership structure
Vives, Xavier; Azar, José - 2020
Persistent link: https://www.econbiz.de/10012384574
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Real option analysis of a technology portfolio
Hilli, Petri; Kallio, Maarit; Kallio, Markku - In: Review of financial economics : RFE 16 (2007) 2, pp. 127-147
Persistent link: https://www.econbiz.de/10003490351
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Merger cancellation and information effects on systematic risk
Lee, Hyong-june - In: Kyŏngje-yŏn'gu 9 (1988) 1, pp. 333-342
Persistent link: https://www.econbiz.de/10001055229
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Post Merger Changes in Riskiness of Bank Loan Portfolios
Gart, Alan - 2011
and above the normal charge-offs. This paper examines the risk associated with post-merger variability in the charge … measure of risk to profitability in a bank's loan portfolio based on traditional portfolio theory. This measure is used to … the years following the merger.The paper finds that the combined loan portfolios of merging BHCs have higher than average …
Persistent link: https://www.econbiz.de/10013120122
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Post Merger Changes in the Riskiness of the Loan Portfolio
Knapp, Morris - 2011
and above the normal charge-offs. This paper examines the risk associated with post-merger variability in the charge … measure of risk to profitability in a bank's loan portfolio based on traditional portfolio theory. This measure is used to … the years following the merger. The paper finds that the combined loan portfolios of merging BHCs have higher than average …
Persistent link: https://www.econbiz.de/10013120155
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Commonalities in Investment Strategy and the Determinants of Performance in Mutual Fund Mergers
Namvar, Ethan - 2014
This paper examines the determinants of cross-sectional variation in post-merger mutual fund performance. Mergers …
Persistent link: https://www.econbiz.de/10013065334
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Anomalous Deal Return Capture : A Cross-Sectional Study of Three Hypothetical Global Merger Risk Arbitrage Portfolios 2000-2016
McCarron, Daniel - 2017
This paper examines the annual risks and returns of three disparate, hypothetical merger arbitrage portfolio strategies … December 2016 time period. Previously written and undoubtedly the most prominent literature into M&A and merger arbitrage … of such from noise/shock trading and the risk & return characteristics of a merger arbitrage trading strategy …
Persistent link: https://www.econbiz.de/10012958921
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Building Patent Portfolios to Facilitate Cross-Licensing Agreements : Implications for Merger Efficiency Analysis
Dorsey, Elyse - 2018
Persistent link: https://www.econbiz.de/10012921227