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| Author: | Markusen, A. |
| Title: | The economics of defence industry mergers and divestitures |
| Journal: | Economic Affairs
1997 : DEC, VOL. 17:4, p. 28-32 |
| Index terms: | DEFENCE ECONOMICS MERGERS |
| Language: | eng |
| Abstract: | High profile mergers in the 1990s have reduced major defence competitors to three in the USA and may evoke corresponding European consolidation and international mergers. The mergers may reduce capacity and help achieve economies of scale, but pose cost, quality and innovation concerns and have undermined diversification, conversion and civil/military integration. Expectations of enhanced political influence and short-term financial returns as well as new, perverse government incentives help to explain why the mergers have occurred. |
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