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We analyse the effects of investment decisions and firms internal organisation on the efficiency and stability of horizontal mergers. In our framework economies of scale are endogenous and there might be internal conflict within merged firms. We show that often stable mergers do not lead to more...
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We analyse the effects of investment decisions and firms' internal organisation on the efficiency and stability of horizontal mergers. In our framework economies of scale are endogenous and there might be internal conflict within merged firms. We show that often stable mergers do not lead to...
Persistent link: https://www.econbiz.de/10001771977
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and welfare-improving even if costs are linear. The driving force behind these results, which help to reconcile theory …
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