haku: @journal_id 1399 / yhteensä: 95
viite: 29 / 95
| Tekijä: | Fauli-Oller, R. |
| Otsikko: | Takeover waves |
| Lehti: | Journal of Economics and Management Strategy
2000 : SUMMER, VOL. 9:2, p. 189-210 |
| Asiasana: | MANAGEMENT MERGERS ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | Horizontal takeovers often occur in waves. A sequence of takeovers is obtained in a Cournot setting with cost asymmetries. They are motivated by two different reasons: 1) a low realization of demand increases the profitability of takeovers; 2) takeovers raise the profitability of future takeovers. A possible explanation of merger races is also obtained by showing that firms buying in the first place pay a lower price for their targets. |
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