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develops a stylized model of mergers and acquisitions that predicts that the incidence of merger and acquisition deals depends … costs. These predictions are examined with bilateral merger and acquisition flow data and detailed information on policy … probability of merger and acquisition inflows but this negative effect is mitigated in countries with relatively large shares of …
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more successful is the target company's performance after the takeover …
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We study the interaction of customer capital and productivity through brand reallocation across firms. We develop a firm dynamics model with brands as transferable customer capital, heterogeneous firm productivity, and variable markups. We study the matching process between transferable brand...
Persistent link: https://www.econbiz.de/10015062505
Competition authorities have a growing interest in assessing the effects of partial ownership arrangements. We show that the effects of such agreements on competition and welfare depend on the intensity of competition in the market and on the firms' governance structure. When assessing the...
Persistent link: https://www.econbiz.de/10011422847
Competition authorities have a growing interest in assessing the effects of partial ownership arrangements. We show that the effects of such agreements on competition and welfare depend on the intensity of competition in the market and on the firms' governance structure. When assessing the...
Persistent link: https://www.econbiz.de/10011429072
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...
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