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Conglomerate dynamics and antitrust policy
[Dynamique des conglomérats et politique antitrust]

Author

Listed:
  • Armel Jacques

    (CEMOI - Centre d'Économie et de Management de l'Océan Indien - UR - Université de La Réunion)

Abstract

Changes in the organisation chosen by groups wishing to engage in collusion practices in several markets are analysed. If the synergies between the different activities are strong, the groups bring together their activities within a conglomerate. Although synergies are weak, the groups prefer to divide their different activities into several autonomous firms when they engage in collusion in several markets. When the competition authority dissolves one of the collusion agreements, the groups merge to combine their activities and benefit from the potential synergies. This dynamic of the group organisation reveals a conglomerate discount.

Suggested Citation

  • Armel Jacques, 2023. "Conglomerate dynamics and antitrust policy [Dynamique des conglomérats et politique antitrust]," Post-Print hal-04293751, HAL.
    • Handle: RePEc:hal:journl:hal-04293751
    Note: View the original document on HAL open archive server: https://hal.science/hal-04293751
    as

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