| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| Merger Performance under Uncertain Efficiency Gains | |
| Licun Xue; Rabah Amir; Effrosyni Diamantoudi | |
| 发表日期 | 2004 |
| 出处 | Climate Change and Sustainable Development |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | In view of the uncertainty over the ability of merging firms to achieve efficiency gains, we model the post-merger situation as a Cournot oligopoly wherein the outsiders face uncertainty about the merged entity's final cost. At the Bayesian equilibrium, a bilateral merger is profitable provided that non-merged firms sufficiently believe that the merger will generate large enough efficiency gains, even if ex post none actually materialize. The effects of the merger on market performance are shown to follow similar threshold rules. The findings are broadly consistent with stylized facts, and provide a rationalization for an efficiency consideration in merger policy. |
| 特色分类 | D43,L11,L22 |
| 关键词 | Horizontal merger,Bayesian Cournot equilibrium,Efficiency gains,Market performance |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/merger-performance-under-uncertain-efficiency-gains/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/117030 |
| 推荐引用方式 GB/T 7714 | Licun Xue,Rabah Amir,Effrosyni Diamantoudi. Merger Performance under Uncertain Efficiency Gains. 2004. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| NDL2004-079.pdf（1247KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
