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Asymmetric Information, Bargaining, and International Mergers

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  • Satya P. Das
  • Sarbajit Sengupta

Abstract

The formation of international mergers is examined in the presence of two kinds of asymmetric information, one when a local firm has private information on market size and the other when a foreign firm has private information on its technology. In each situation, parametric configurations are identified under which a merger offer may or may not be made. It also examines the kind of offer and the probability of its acceptance. The likelihood of a merger beingformed is also related to the basic market size, demand uncertainty, and cost uncertainty. Welfare effects of tax/subsidy policies by the host country are also analyzed. Copyright (c) 2001 Massachusetts Institute of Technology.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Journal of Economics & Management Strategy.

Volume (Year): 10 (2001)
Issue (Month): 4 (December)
Pages: 565-590

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Handle: RePEc:bla:jemstr:v:10:y:2001:i:4:p:565-590

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Web page: http://www.kellogg.northwestern.edu/research/journals/JEMS/

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Cited by:
  1. Arijit Mukherjee, 2006. "Cross-border merger and domestic welfare," Economics Bulletin, AccessEcon, vol. 6(16), pages 1-8.
  2. Mattoo, Aaditya & Olarreaga, Marcelo & Saggi, Kamal, 2001. "Mode of Foreign Entry, Technology Transfer, and FDI Policy," CEPR Discussion Papers, C.E.P.R. Discussion Papers 2870, C.E.P.R. Discussion Papers.
  3. Beladi, Hamid & Chakrabarti, Avik & Marjit, Sugata, 2013. "Cross-border mergers in vertically related industries," European Economic Review, Elsevier, vol. 59(C), pages 97-108.
  4. Ray Chaudhuri, A., 2010. "Monopolization Through Acquisitions in Multimarket Oligopolies (Replaced by CentER DP 2011-112)," Discussion Paper, Tilburg University, Center for Economic Research 2010-96, Tilburg University, Center for Economic Research.
  5. Müller, Thomas, 2003. "The Multinational Enterprise," Munich Dissertations in Economics 799, University of Munich, Department of Economics.
  6. Banal-Estanol, Albert, 2007. "Information-sharing implications of horizontal mergers," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 25(1), pages 31-49, February.
  7. James Gaisford & Stefan Lutz, 2007. "A Multi-Product Framework Generating Waves of Mergers and Divestitures," ICER Working Papers, ICER - International Centre for Economic Research 36-2007, ICER - International Centre for Economic Research.
  8. Ray Chaudhuri, A., 2014. "Acquisitions by Multinationals and Trade Liberalization," Discussion Paper, Tilburg University, Center for Economic Research 2014-006, Tilburg University, Center for Economic Research.
  9. Qiu, Larry D. & Zhou, Wen, 2006. "International mergers: Incentives and welfare," Journal of International Economics, Elsevier, vol. 68(1), pages 38-58, January.
  10. repec:ebl:ecbull:v:6:y:2006:i:16:p:1-8 is not listed on IDEAS

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