کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5066456 1476779 2016 19 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The strategic value of partial vertical integration
ترجمه فارسی عنوان
ارزش استراتژیک ادغام عمودی جزئی
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی

We investigate the strategic incentives for partial vertical integration, namely, partial ownership agreements between manufacturers and retailers, when retailers privately know their costs and engage in price competition with differentiated goods. The partial misalignment between the profit objectives within a partially integrated manufacturer-retailer hierarchy implies a higher retail price than under full integration. This 'information vertical effect' translates into a 'competition horizontal effect': the partially integrated hierarchy's commitment to a higher price induces the competitor to increase its price, which strategically relaxes competition. Our analysis provides implications for vertical merger policy and theoretical support for the recently documented empirical evidence on partial vertical acquisitions.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: European Economic Review - Volume 89, October 2016, Pages 284-302
نویسندگان
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