Interindustry Takeover, Economies of Scope, and Takeover Premia
AbstractThe existence of takeover premia is well established in the finance literature. This research motivates the existence of premia by utilising the concept of economies of scope which are empirically proxied by the 'closeness' of industries, and subsequently provides a theoretical framework for the analysis. Potential takeover premia are shown to exist under standard conditions of Cournot competition for firms which operate in two related industries and for whom the products are considered to be strategic substitutes.
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Bibliographic InfoPaper provided by School of Economics, La Trobe University in its series Working Papers with number 1997.09.
Length: 16 pages
Date of creation: 1997
Date of revision:
Oligopolies. Financial Market EDIRC Provider-Institution: RePEc:edi:smlatau;
Other versions of this item:
- Chongwoo Choe & Chander Shekhar, 1997. "Interindustry Takeover, Economies of Scope, and Takeover Premia," Working Papers 1997.09, School of Economics, La Trobe University.
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