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Merger Profitability and Trade Policy

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Author Info
Steffen Huck
Kai A. Konrad

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Abstract

We study the profitability incentives for merger and the endogenous industry structure in a strategic trade policy environment. Merger changes the strategic trade policy equlilibrium. We show that merger can be profitable and welfare enhancing, even though it would not be profitable in a "laissez-faire" economy. A key element is a change in the governments' incentives to give subsidies to their local firms. National merger induces more strategic trade policy, whereas international merger does not. Copyright The editors of the "Scandinavian Journal of Economics", 2004 .

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Publisher Info
Article provided by Blackwell Publishing in its journal The Scandinavian Journal of Economics.

Volume (Year): 106 (2004)
Issue (Month): 1 (03)
Pages: 107-122
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Handle: RePEc:bla:scandj:v:106:y:2004:i:1:p:107-122

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  1. Yoshio Kamijo & Yasuhiko Nakamura, 2009. "Stable market structures from merger activities in mixed oligopoly with asymmetric costs," Journal of Economics, Springer, vol. 98(1), pages 1-24, September. [Downloadable!] (restricted)
  2. Haufler, Andreas & Schulte, Christian, 2007. "Merger Policy and Tax Competition," Discussion Papers in Economics 2074, University of Munich, Department of Economics. [Downloadable!]
    Other versions:
  3. Gjermund Nese & Odd Straume, 2007. "Industry Concentration and Strategic Trade Policy in Successive Oligopoly," Journal of Industry, Competition and Trade, Springer, vol. 7(1), pages 31-52, March. [Downloadable!] (restricted)
  4. Lommerud, Kjell Erik & Olsen, Trond E. & Straume, Odd Rune, 2005. "Access regulation and cross-border mergers: Is international coordination beneficial?," Discussion Papers 2005/8, Department of Finance and Management Science, Norwegian School of Economics and Business Administration. [Downloadable!]
  5. Norbäck, Pehr-Johan & Persson, Lars, 2003. "Privatization Policy in an International Oligopoly," Working Paper Series 608, Research Institute of Industrial Economics. [Downloadable!]
    Other versions:
  6. Cathrine Hagem, 2008. "Incentives for merger in a noncompetitive permit market," Discussion Papers 568, Research Department of Statistics Norway. [Downloadable!]
  7. Joseph A. Clougherty & Anming Zhang, 2008. "Domestic Rivalry and Export Performances: Theory and Evidence from International Airline Markets," CIG Working Papers SP II 2008-12, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG). [Downloadable!]
    Other versions:
  8. Luís Santos-Pinto, 2009. "The Impact of Firm Size and Market Size Asymmetries on National Mergers in a Three-Country Model," Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) 09.06, Université de Lausanne, Faculté des HEC, DEEP. [Downloadable!]
    Other versions:
  9. Gjermund Nese & Odd Rune Staume, 2005. "Industry Concentration and Strategic Trade Policy in Successive Oligopoly," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  10. Gjermund Nese & Odd Straume, 2007. "Industry Concentration and Strategic Trade Policy in Successive Oligopoly," Experimental Economics, Springer, vol. 7(1), pages 31-52, March. [Downloadable!] (restricted)
  11. Johannes Becker & Clemens Fuest, 2007. "Corporate Tax Policy and International Mergers and Acquisitions – Is the Tax Exemption System Superior?," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  12. Andreas Haufler & Søren Bo Nielsen, 2005. "Merger Policy to Promote ‘Global Players’? A Simple Model," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  13. Johannes Becker & Clemens Fuest, 2008. "Tax Competition – Greenfield Investment versus Mergers and Acquisitions," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  14. Hartmut Egger & Peter Egger, 2008. "The Trade and Welfare Effects of Mergers in Space," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  15. Steffen Huck & Kai Konrad, 2003. "Strategic Trade Policy and Merger Profitability," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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