The Regulation of Predatory Firms
AbstractThis article investigates the issue of predation by a regulated firm. Since it has private information, a regulated firm obtains higher rents incase of successful predation: the fewer the competitors, the higher the marginal social value of the regulated firm's effort and the higher the informational rents. Both principals (the investor of a "target" firm and the regulator) have to provide some incentives to prevent predation: the investor has to reduce the sensitivity of refinancing to predation; the regulator has to lower the gain of successful predation.
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Bibliographic InfoPaper provided by Toulouse - GREMAQ in its series Papers with number 96.419.
Length: 35 pages
Date of creation: 1996
Date of revision:
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REGULATIONS ; INFORMATION;
Find related papers by JEL classification:
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
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