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Article: International mergers: Incentives and welfare

TitleInternational mergers: Incentives and welfare
Authors
KeywordsCross-Border Mergers
Information Sharing
International Mergers
Merger Incentives
Output Coordination
Welfare
Issue Date2006
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jie
Citation
Journal Of International Economics, 2006, v. 68 n. 1, p. 38-58 How to Cite?
AbstractInformation asymmetry creates incentives for firms from different countries to merge. To demonstrate this point, we develop a model of international oligopolistic competition under demand uncertainty and asymmetric information. We show that when domestic firms but not foreign firms are completely informed of local market demands, information sharing enhances the profitability of a merger between a domestic firm and a foreign firm. We also examine how such a merger affects the non-merging firms' profits, consumer surplus and social welfare. © 2005 Elsevier B.V. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/177733
ISSN
2015 Impact Factor: 2.017
2015 SCImago Journal Rankings: 3.723
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorQiu, LDen_US
dc.contributor.authorZhou, Wen_US
dc.date.accessioned2012-12-19T09:39:44Z-
dc.date.available2012-12-19T09:39:44Z-
dc.date.issued2006en_US
dc.identifier.citationJournal Of International Economics, 2006, v. 68 n. 1, p. 38-58en_US
dc.identifier.issn0022-1996en_US
dc.identifier.urihttp://hdl.handle.net/10722/177733-
dc.description.abstractInformation asymmetry creates incentives for firms from different countries to merge. To demonstrate this point, we develop a model of international oligopolistic competition under demand uncertainty and asymmetric information. We show that when domestic firms but not foreign firms are completely informed of local market demands, information sharing enhances the profitability of a merger between a domestic firm and a foreign firm. We also examine how such a merger affects the non-merging firms' profits, consumer surplus and social welfare. © 2005 Elsevier B.V. All rights reserved.en_US
dc.languageengen_US
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jieen_US
dc.relation.ispartofJournal of International Economicsen_US
dc.subjectCross-Border Mergersen_US
dc.subjectInformation Sharingen_US
dc.subjectInternational Mergersen_US
dc.subjectMerger Incentivesen_US
dc.subjectOutput Coordinationen_US
dc.subjectWelfareen_US
dc.titleInternational mergers: Incentives and welfareen_US
dc.typeArticleen_US
dc.identifier.emailQiu, LD: larryqiu@hku.hken_US
dc.identifier.emailZhou, W: wzhou@hkucc.hku.hken_US
dc.identifier.authorityQiu, LD=rp01093en_US
dc.identifier.authorityZhou, W=rp01128en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1016/j.jinteco.2004.12.005en_US
dc.identifier.scopuseid_2-s2.0-29844449092en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-29844449092&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume68en_US
dc.identifier.issue1en_US
dc.identifier.spage38en_US
dc.identifier.epage58en_US
dc.identifier.eissn1873-0353-
dc.identifier.isiWOS:000234383800003-
dc.publisher.placeNetherlandsen_US
dc.identifier.scopusauthoridQiu, LD=7201538008en_US
dc.identifier.scopusauthoridZhou, W=10739745800en_US

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