Merger Policy to Promote ‘Global Players’? A Simple Model
نویسندگان
چکیده
We analyze whether merger policy will be used to create global players, i.e. firms that are more competitive in world markets. In a model where firms in two countries serve their respective domestic markets plus a world market, we consider when a cost-reducing merger will be beneficial for the firms, the home country, and the world as a whole. National merger policies will generally be too restrictive from a global efficiency perspective, whereas merger policies in a union of countries may be overly permissive. These results confirm the global player argument for merger policies at the regional, but not at the national level.
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Merger Policy to Promote Global Players? a Simple Model Merger Policy to Promote 'global Players' ? a Simple Model * Regensburg and Dresden for Helpful Comments. Competent Research Assistance Was Provided by Daniel
We use a simple framework where firms in two countries serve their respective domestic markets and a world market to analyze under which conditions cost-reducing mergers will be beneficial for the merging firms, the home country, and the world as a whole. For a national merger, the policies enacted by a national merger authority tend to be overly restrictive from a global efficiency perspective...
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We use a simple framework where firms in two countries serve their respective domestic markets and a world market to analyze under which conditions cost-reducing mergers will be beneficial for the merging firms, the home country, and the world as a whole. For a national merger, the policies enacted by a national merger authority tend to be overly restrictive from a global efficiency perspective...
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