THE EFFECTS OF HORIZONTAL MERGERS ON COMPETITION - THE CASE OF THE NORTHERN-SECURITIES-COMPANY

被引：29
|
作者：
PRAGER, RA [1 ]
机构：
[1] MIT,CAMBRIDGE,MA 02139
来源：
RAND JOURNAL OF ECONOMICS | 1992年 / 23卷 / 01期
关键词：
D O I：
10.2307/2555436
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Several recent articles have studied the competitive effects of horizontal mergers by examining rival firms' stock price reactions to the merger announcement and subsequent antitrust challenge. These articles have consistently failed to find any evidence for of anticompetitive effects. This article considers two alternative explanations for the previous findings, and it sheds some new light on the issue by presenting a case study of the merger that resulted in the formation of the Northern Securities Company in 1901.
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页码：123 / 133
页数：11
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