کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5085758 | 1478065 | 2013 | 13 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Static and dynamic merger effects: A market share based empirical analysis
ترجمه فارسی عنوان
اثرات ادغام استاتیک و پویا: تجزیه و تحلیل تجربی بر مبنای سهم بازار
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
چکیده انگلیسی
Merger-specific efficiencies continue to play a relatively small role in merger enforcement and merger retrospectives. Motivated by the paucity of empirical analyses of merger-specific efficiencies, we examine a merger's market share effects. Standard merger theory predicts that if merger-specific efficiencies are present, the merged firm should regain market share in the long run. We estimate short- and long-run merger effects on market shares from the divestiture of Texaco's Canadian assets. Using a difference-in-difference specification we compare changes for the merging firm against changes for other vertically integrated firms in the same market. A general equilibrium type effect renders our estimates biased but the sign of each effect is consistently estimated. Our approach is a useful complement to across-market comparisons, which are often hindered by the difficulty of finding control markets that experience the same supply and demand shocks as the treatment markets.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Law and Economics - Volume 36, October 2013, Pages 12-24
Journal: International Review of Law and Economics - Volume 36, October 2013, Pages 12-24
نویسندگان
Mikko Packalen, Anindya Sen,