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Article: International mergers: Incentives and welfare
Title | International mergers: Incentives and welfare |
---|---|
Authors | |
Keywords | Cross-Border Mergers Information Sharing International Mergers Merger Incentives Output Coordination Welfare |
Issue Date | 2006 |
Publisher | Elsevier 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? |
Abstract | Information 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 Identifier | http://hdl.handle.net/10722/177733 |
ISSN | 2023 Impact Factor: 3.8 2023 SCImago Journal Rankings: 4.583 |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Qiu, LD | en_US |
dc.contributor.author | Zhou, W | en_US |
dc.date.accessioned | 2012-12-19T09:39:44Z | - |
dc.date.available | 2012-12-19T09:39:44Z | - |
dc.date.issued | 2006 | en_US |
dc.identifier.citation | Journal Of International Economics, 2006, v. 68 n. 1, p. 38-58 | en_US |
dc.identifier.issn | 0022-1996 | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/177733 | - |
dc.description.abstract | Information 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.language | eng | en_US |
dc.publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jie | en_US |
dc.relation.ispartof | Journal of International Economics | en_US |
dc.subject | Cross-Border Mergers | en_US |
dc.subject | Information Sharing | en_US |
dc.subject | International Mergers | en_US |
dc.subject | Merger Incentives | en_US |
dc.subject | Output Coordination | en_US |
dc.subject | Welfare | en_US |
dc.title | International mergers: Incentives and welfare | en_US |
dc.type | Article | en_US |
dc.identifier.email | Qiu, LD: larryqiu@hku.hk | en_US |
dc.identifier.email | Zhou, W: wzhou@hkucc.hku.hk | en_US |
dc.identifier.authority | Qiu, LD=rp01093 | en_US |
dc.identifier.authority | Zhou, W=rp01128 | en_US |
dc.description.nature | link_to_subscribed_fulltext | en_US |
dc.identifier.doi | 10.1016/j.jinteco.2004.12.005 | en_US |
dc.identifier.scopus | eid_2-s2.0-29844449092 | en_US |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-29844449092&selection=ref&src=s&origin=recordpage | en_US |
dc.identifier.volume | 68 | en_US |
dc.identifier.issue | 1 | en_US |
dc.identifier.spage | 38 | en_US |
dc.identifier.epage | 58 | en_US |
dc.identifier.eissn | 1873-0353 | - |
dc.identifier.isi | WOS:000234383800003 | - |
dc.publisher.place | Netherlands | en_US |
dc.identifier.scopusauthorid | Qiu, LD=7201538008 | en_US |
dc.identifier.scopusauthorid | Zhou, W=10739745800 | en_US |
dc.identifier.issnl | 0022-1996 | - |