| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22750 |
| 来源ID | Working Paper 22750 |
| Evidence for the Effects of Mergers on Market Power and Efficiency | |
| Bruce A. Blonigen; Justin R. Pierce | |
| 发表日期 | 2016-10-24 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Study of the impact of mergers and acquisitions (M&As) on productivity and market power has been complicated by the difficulty of separating these two effects. We use newly-developed techniques to separately estimate productivity and markups across a wide range of industries using detailed plant-level data. Employing a difference-in-differences framework, we find that M&As are associated with increases in average markups, but find little evidence for effects on plant-level productivity. We also examine whether M&As increase efficiency through reallocation of production to more efficient plants or through reductions in administrative operations, but again find little evidence for these channels, on average. The results are robust to a range of approaches to address the endogeneity of firms’ merger decisions. |
| 主题 | Microeconomics ; Households and Firms ; Financial Economics ; Corporate Finance ; Industrial Organization ; Firm Behavior |
| URL | https://www.nber.org/papers/w22750 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/580423 |
| 推荐引用方式 GB/T 7714 | Bruce A. Blonigen,Justin R. Pierce. Evidence for the Effects of Mergers on Market Power and Efficiency. 2016. |
| 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 | ||
| w22750.pdf（572KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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