The competitive effects of firm exit Evidence from the U.S. airline industry

被引：7

作者：

Hueschelrath, Kai ^{[1
,2
,3
]}

Mueller, Kathrin ^{[1
,2
]}

机构：

[1] ZEW Ctr European Econ Res, Competit & Regulat Res Grp, POB 103443, D-68034 Mannheim, Germany

[2] MaCCI Mannheim Ctr Competit & Innovat, Mannheim, Germany

[3] WHU Otto Beisheim Sch Management, D-56179 Vallendar, Germany

来源：

ECONOMICS OF TRANSPORTATION | 2013年 / 2卷 / 2-3期

关键词：

Airline industry; Exit; Liquidation; Merger; Efficiencies; Entry-inducing effects;

D O I：

10.1016/j.ecotra.2013.05.001

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We study the competitive effects of five liquidations and six mergers in the domestic U.S. airline industry between 1995 and 2010. Applying fixed effects regression models, we find that route exits due to liquidation lead to substantially larger price increases than merger-related exits. Within the merger category, our analysis reveals significant price increases on all affected routes immediately after the exit events. In the medium and long-run, however, realized merger efficiencies and entry-inducing effects are found to be strong enough to drive prices down to pre-exit levels. (C) 2013 Elsevier Ltd. All rights reserved.

引用

页码：72 / 85

页数：14

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