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Article: Merger waves: A model of endogenous mergers
Title | Merger waves: A model of endogenous mergers |
---|---|
Authors | |
Issue Date | 2007 |
Publisher | Wiley-Blackwell Publishing, Inc.. The Journal's web site is located at http://www.rje.org/ |
Citation | Rand Journal Of Economics, 2007, v. 38 n. 1, p. 214-226 How to Cite? |
Abstract | We develop a model of endogenous mergers to study their dynamic process. Firms choose whether, when, and with whom to merge. Two necessary conditions are identified for mergers to occur: firm heterogeneity and negative demand shocks. We show that mergers are strategic complements and therefore tend to occur in waves. Moreover, some mergers occur for strategic reasons in order to precipitate further mergers. Copyright © 2007, RAND. |
Persistent Identifier | http://hdl.handle.net/10722/125583 |
ISSN | 2023 Impact Factor: 2.8 2023 SCImago Journal Rankings: 3.860 |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
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dc.contributor.author | Qiu, LD | en_HK |
dc.contributor.author | Zhou, W | en_HK |
dc.date.accessioned | 2010-10-31T11:39:43Z | - |
dc.date.available | 2010-10-31T11:39:43Z | - |
dc.date.issued | 2007 | en_HK |
dc.identifier.citation | Rand Journal Of Economics, 2007, v. 38 n. 1, p. 214-226 | en_HK |
dc.identifier.issn | 0741-6261 | en_HK |
dc.identifier.uri | http://hdl.handle.net/10722/125583 | - |
dc.description.abstract | We develop a model of endogenous mergers to study their dynamic process. Firms choose whether, when, and with whom to merge. Two necessary conditions are identified for mergers to occur: firm heterogeneity and negative demand shocks. We show that mergers are strategic complements and therefore tend to occur in waves. Moreover, some mergers occur for strategic reasons in order to precipitate further mergers. Copyright © 2007, RAND. | en_HK |
dc.language | eng | en_HK |
dc.publisher | Wiley-Blackwell Publishing, Inc.. The Journal's web site is located at http://www.rje.org/ | en_HK |
dc.relation.ispartof | RAND Journal of Economics | en_HK |
dc.rights | This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License. | - |
dc.title | Merger waves: A model of endogenous mergers | en_HK |
dc.type | Article | en_HK |
dc.identifier.openurl | http://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0741-6261&volume=38&spage=214&epage=226&date=2007&atitle=Merger+waves:+A+model+of+endogenous+mergers | en_HK |
dc.identifier.email | Qiu, LD: larryqiu@hku.hk | en_HK |
dc.identifier.email | Zhou, W: wzhou@hkucc.hku.hk | en_HK |
dc.identifier.authority | Qiu, LD=rp01093 | en_HK |
dc.identifier.authority | Zhou, W=rp01128 | en_HK |
dc.description.nature | preprint | - |
dc.identifier.doi | 10.1111/j.1756-2171.2007.tb00052.x | en_HK |
dc.identifier.scopus | eid_2-s2.0-36549040012 | en_HK |
dc.identifier.hkuros | 181664 | en_HK |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-36549040012&selection=ref&src=s&origin=recordpage | en_HK |
dc.identifier.volume | 38 | en_HK |
dc.identifier.issue | 1 | en_HK |
dc.identifier.spage | 214 | en_HK |
dc.identifier.epage | 226 | en_HK |
dc.identifier.eissn | 1756-2171 | - |
dc.identifier.isi | WOS:000250674100012 | - |
dc.publisher.place | United States | en_HK |
dc.identifier.scopusauthorid | Qiu, LD=7201538008 | en_HK |
dc.identifier.scopusauthorid | Zhou, W=10739745800 | en_HK |
dc.identifier.issnl | 0741-6261 | - |