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Bandwagon mergers, international competitiveness, and government policy

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  • Hans Schenk

Abstract

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Suggested Citation

  • Hans Schenk, 1996. "Bandwagon mergers, international competitiveness, and government policy," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 23(3), pages 255-278, October.
  • Handle: RePEc:kap:empiri:v:23:y:1996:i:3:p:255-278
    DOI: 10.1007/BF00924973
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    References listed on IDEAS

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    1. Geroski, P A, 1989. "European Industrial Policy and Industrial Policy in Europe," Oxford Review of Economic Policy, Oxford University Press, vol. 5(2), pages 20-36, Summer.
    2. Mueller, Dennis C., 1996. "Lessons from the United States's antitrust history," International Journal of Industrial Organization, Elsevier, vol. 14(4), pages 415-445, June.
    3. Geroski, P. A., 1984. "On the relationship between aggregate merger activity and the stock market," European Economic Review, Elsevier, vol. 25(2), pages 223-233, July.
    4. Julian Simon & Manouchehr Mokhtari & Daniel Simon, 1996. "Are Mergers Beneficial or Detrimental? Evidence from Advertising Agencies1," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 3(1), pages 69-82.
    5. Mueller,Dennis C., 2009. "Profits in the Long Run," Cambridge Books, Cambridge University Press, number 9780521101592.
    6. Scherer, Frederic Michael, 1996. "Competition policy convergence: where next?," ZEW Discussion Papers 96-24, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    7. Allen N. Berger & David B. Humphrey, 1992. "Megamergers in banking and the use of cost efficiency as an antitrust defense," Finance and Economics Discussion Series 203, Board of Governors of the Federal Reserve System (U.S.).
    8. Abhijit V. Banerjee, 1992. "A Simple Model of Herd Behavior," The Quarterly Journal of Economics, Oxford University Press, vol. 107(3), pages 797-817.
    9. Oliver E. Williamson (ed.), 1990. "Industrial Organization," Books, Edward Elgar Publishing, number 593.
    10. Roll, Richard, 1986. "The Hubris Hypothesis of Corporate Takeovers," The Journal of Business, University of Chicago Press, vol. 59(2), pages 197-216, April.
    11. Mueller, Dennis C., 1989. "Mergers : Causes, effects and policies," International Journal of Industrial Organization, Elsevier, vol. 7(1), pages 1-10, March.
    12. Maddison, Angus, 1987. "Growth and Slowdown in Advanced Capitalist Economies: Techniques of Quantitative Assessment," Journal of Economic Literature, American Economic Association, vol. 25(2), pages 649-698, June.
    13. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    14. Peter E. Earl, 1995. "Microeconomics for Business and Marketing," Books, Edward Elgar Publishing, number 159.
    15. Healy, Paul M. & Palepu, Krishna G. & Ruback, Richard S., 1992. "Does corporate performance improve after mergers?," Journal of Financial Economics, Elsevier, vol. 31(2), pages 135-175, April.
    16. Jensen, Michael C, 1988. "Takeovers: Their Causes and Consequences," Journal of Economic Perspectives, American Economic Association, vol. 2(1), pages 21-48, Winter.
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    Citations

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    Cited by:

    1. Nilsson Hakkala, Katariina & Bertrand, Olivier & Norbäck, Pehr-Johan & Persson, Lars, 2008. "Should RD Champions be Protected from Foreign Takeovers?," Discussion Papers 459, VATT Institute for Economic Research.
    2. Hermans, Michel, 2003. "Small- and medium-sized enterprises' restructuring in a context of transition: a shared process: inter-player effects on efficient boundary choice in the Argentine manufacturing sector," Estudios y Perspectivas – Oficina de la CEPAL en Buenos Aires 13, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    3. Richards, Timothy J. & Manfredo, Mark R., 2003. "Cooperative Mergers and Acquisitions: The Role of Capital Constraints," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 28(01), April.
    4. van Driel, Hugo, 2000. "Collusion in transport: group effects in a historical perspective," Journal of Economic Behavior & Organization, Elsevier, vol. 41(4), pages 385-404, April.
    5. Gábor Péli & Hans Schenk, 2015. "Organizational decision-maker bias supports merger wave formation: demonstration with logical formalization," Quality & Quantity: International Journal of Methodology, Springer, vol. 49(6), pages 2459-2480, November.
    6. Kleinert, Jörn & Klodt, Henning, 2002. "Causes and consequences of merger waves," Kiel Working Papers 1092, Kiel Institute for the World Economy (IfW).
    7. Singh, Ajit & Weisse, Bruce A., 1998. "Emerging stock markets, portfolio capital flows and long-term economie growth: Micro and macroeconomic perspectives," World Development, Elsevier, vol. 26(4), pages 607-622, April.

    More about this item

    Keywords

    Theory of mergers; competitiveness; competition policy; industrial policy; D81; F23; L21; L13; L40; L50; O38;

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General
    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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