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Horizontal port integrations under mixed ownership

Author

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  • Xu, Lili
  • Yin, Yuntong
  • Lee, Sang-Ho

Abstract

This study examines the effects of horizontal port integrations between public and private ports under mixed ownership. It distinguishes two different types of integrations between adjacent (A-type) and non-adjacent (N-type) integrations, wherein a private port integrates with a neighboring or non-adjacent public port, respectively. Our analysis reveals that, compared with no integration, both types of integrations are profitable for the merged port when the private share of mixed ownership is high. A-type integration consistently improves local and social welfare, whereas N-type integration only achieves this benefit with lower private share levels. However, compared with N-type integration, A-type integration benefits both the port industry and society but harms shippers. This examination of merged entities' non-uniform pricing strategies corroborates conclusions drawn under a uniform pricing regime and underscores the advisability of governmental promotion of integrations between private ports and their neighboring public counterparts.

Suggested Citation

  • Xu, Lili & Yin, Yuntong & Lee, Sang-Ho, 2025. "Horizontal port integrations under mixed ownership," Research in Transportation Economics, Elsevier, vol. 109(C).
    • Handle: RePEc:eee:retrec:v:109:y:2025:i:c:s0739885925000034
    DOI: 10.1016/j.retrec.2025.101520
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    Keywords

    Hotelling model; Port integration; Uniform pricing; Non-uniform pricing; Mixed ownership;
    All these keywords.

    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
    • L92 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Railroads and Other Surface Transportation

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