Fusiones Horizontales: Un Caso de Aplicación para la Argentina
AbstractThis paper studies firm merger and acquisition activities from the perspective of the economic agents involved and their consequences on economic welfare. In particular, it analyzes the case of horizontal mergers. The first chapter describes the legislation on mergers and acquisitions in force from different countries. The second chapter details the characteristics of these activities, the causes of their control in practice and the main analytical tools proposed by the literature to evaluate concentrations. The third chapter quantifies an alternative method to evaluate merger consequences and applies it to an horizontal merger in Argentina. The main conclusions are: i) it is necessary to improve the analytical and informative frames so that the evaluation of merger and acquisition operate in tandem with political economy decisions; ii) the absence of a unique and complete solution requires the implementation of rules of reason to evaluate the effects of economic concentrations on welfare and markets; iii) the parametric focus constitutes an alternative analysis that captures the particular characteristics of firms, consumers and the market; and that is applicable to a broad set of study cases with available information.
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Bibliographic InfoPaper provided by Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata in its series Department of Economics, Working Papers with number 015.
Length: 60 pages
Date of creation: Jul 1999
Date of revision:
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