政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/110182

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | Items with full text/Total items : 113303/144284 (79%)
Visitors : 50831745 Online Users : 702

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer

政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/110182

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/110182

Title:	Cross-Border Mergers and Market Concentration in a Vertically Related Industry: Theory and Evidence
Authors:	張元晨 Chakrabarti, Avik;Hsieh, Yi-Ting;Chang, Yuanchen
Contributors:	財管系
Keywords:	Market concentration;cross-border merger;vertical integration;oligopoly;panel data
Date:	2017
Issue Date:	2017-06-05 14:47:03 (UTC+8)
Abstract:	We present a tractable model of oligopoly to identify the linkages between local competition and cross-border mergers in a vertically related industry. We show that the incentives for cross-border mergers rise with vertical integration in an industry when the premerger concentration in that industry is sufficiently high relative to the concentration in the same industry in a foreign country. We also show that the incentives for a merger between a foreign firm and a vertically integrated home firm will be higher than that for a merger between a foreign firm and a disintegrated home firm, when the premerger concentration at home is low relative to the premerger concentration in the foreign country. We then analyze a firm-level panel of 90,614 M&A observations, between 1990 and 2012, from 86 countries. Logistic regressions confirm that market concentration is an important determinant of cross-border M&A. Our results support the conjectures of our theoretical model and are consistent with recent empirical findings and theoretical predictions.
Relation:	The Journal of International Trade & Economic Development, Volume 26, Issue 1 , Pages 111-130
Data Type:	article
DOI 連結:	http://dx.doi.org/10.1080/09638199.2016.1220971
DOI:	10.1080/09638199.2016.1220971
Appears in Collections:	[財務管理學系] 期刊論文

Files in This Item:

File	Description	Size	Format
index.html		0Kb	HTML2	727	View/Open

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

Loading...