Cross-border mergers in a mixed oligopoly

被引：10
|
作者：
Heywood, John S. [1 ]
McGinty, Matthew [1 ]
机构：
[1] Univ Wisconsin, Dept Econ, Milwaukee, WI 53201 USA
来源：
ECONOMIC MODELLING | 2011年 / 28卷 / 1-2期
关键词：
Cross border mergers; Mixed oligopoly; Merger paradox; HORIZONTAL MERGERS; BANKING SECTOR; CONVEX COSTS; COMPETITION; OWNERSHIP; PRIVATE; FIRMS;
D O I：
10.1016/j.econmod.2010.08.011
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper identifies the unique strategic issues of cross-border mergers in a mixed oligopoly showing that the presence of a welfare maximizing public firm increases the incentive for such mergers. The well-known merger paradox that two-firm mergers are rarely profitable is substantially relaxed in the cases of both linear and convex production costs. The ability to identify profitable two-firm mergers in this context takes on added importance as the recent cross-border merger wave often involved industries with public firms. (C) 2010 Elsevier B.V. All rights reserved.
引用
收藏
页码：382 / 389
页数：8
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