کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7242808 | 1471638 | 2016 | 14 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
How to counter union power? Equilibrium mergers in international oligopoly
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
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چکیده انگلیسی
We re-examine the common wisdom that cross-border mergers are the most effective merger strategy for firms facing powerful unions. In contrast, we obtain a domestic merger outcome whenever firms are sufficiently heterogeneous (in terms of productive efficiency and product differentiation). A domestic merger unfolds a “wage-unifying” effect which limits the union's ability to extract rents. When products become sufficiently homogeneous, then cross-border mergers are the unique equilibrium. However, they may be either between firms with the same cost efficiency or with different cost efficiencies. Social welfare is never higher under a domestic merger outcome than under a cross-border merger outcome.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Behavior & Organization - Volume 127, July 2016, Pages 16-29
Journal: Journal of Economic Behavior & Organization - Volume 127, July 2016, Pages 16-29
نویسندگان
Irina Baye, Beatrice Pagel, Christian Wey,