| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4048 |
| DP4048 Communication Externalities in Cities | |
| Gilles Gilles Duranton; Sylvie Charlot | |
| 发表日期 | 2003-09-23 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | This Paper studies cross-border acquisitions and greenfield entry in a multi-firm setting. Acquisition entry is more likely when the acquirer gains a strong position in the product market, relative to greenfield entrants. We also show that such acquisitions might have a low profitability, however. The reason is that the bidding competition over the domestic assets is then so fierce that the firms involved would be better off not starting a bidding war. Moreover, this implies that domestic firms will then sell their assets at a substantially higher price than their reservation price. Implications for stock market values are also derived. |
| 主题 | Industrial Organization |
| 关键词 | Fdi Mergers and acquisitions Stock market value |
| URL | https://cepr.org/publications/dp4048 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533024 |
| 推荐引用方式 GB/T 7714 | Gilles Gilles Duranton,Sylvie Charlot. DP4048 Communication Externalities in Cities. 2003. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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