haku: @author Banerjee, A. / yhteensä: 9
viite: 3 / 9
| Tekijä: | Banerjee, A. Eckard, E. W. |
| Otsikko: | Are mega-mergers anticompetitive? evidence from the first great merger wave. |
| Lehti: | RAND Journal of Economics
1998 : WIN, VOL. 29:4, p. 803-827 |
| Asiasana: | Mergers Corporate restructuring |
| Kieli: | eng |
| Tiivistelmä: | The authors analyze the competitive impacts of the first major U.S. merger wave of 1897-1903, and find merger participants of 12 % to 18%. They find that competitors suffered significant value losses inconsistent with conventional monopoly behavior. This result might be explained by apprehensions of trust predation rather than expected efficiency, but further analysis suggests that is unlikely. The evidence indicates that these mergers were generally motivated by more efficient operations, rather than monopoly power. participants, competitors |
SCIMA