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Although complementarity between products and/or technologies of bidders and targets is considered a key driver of M\&A deals, many observed mergers are inefficient: Complementarity gains in actual mergers are lower than the gains that could have been obtained were the targets acquired by...
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We develop a model of learning by doing in human capital formation in the presence of allocative inefficiencies. The inefficiencies are a result of lobbying by firms to establish, or prevent, barriers to the perfectly competitive allocation of factors of production (labor). It is shown that...
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We study a two-sector economy with investments in human and physical capital and imperfect labor markets. Human and physical capital are heterogeneous. Workers and firms endogenously select the sector they are active in, and choose the amount of their sector-specific investments in human and...
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the role of market power and efficiency. We made use of pooled OLS regression with fixed effect model. For robustness, we … loss of about 0.433 percent of observed total loans. Encouragingly, cost efficiency in the banking system fits well within … the world's mean efficiency but has been decreasing over time. Further, there is evidence that prices have not moved …
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