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Are Mega-Mergers Anticompetitive? Evidence from the First Great Merger Wave

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Cited by:

  1. Huck, Steffen & Knoblauch, Vicki & Muller, Wieland, 2003. "On the profitability of collusion in location games," Journal of Urban Economics, Elsevier, vol. 54(3), pages 499-510, November.
  2. Gugler, Klaus & Szücs, Florian, 2016. "Merger externalities in oligopolistic markets," International Journal of Industrial Organization, Elsevier, vol. 47(C), pages 230-254.
  3. Cosnita-Langlais, Andreea, 2012. "Horizontal market concentration: Theoretical insights from spatial models," Research in Economics, Elsevier, vol. 66(1), pages 22-32.
  4. Mantecon, Tomas & Liu, Ian & Gao, Fei, 2012. "Empirical evidence of the value of monitoring in joint ownership," Journal of Banking & Finance, Elsevier, vol. 36(4), pages 1045-1056.
  5. Anthony Creane & Carl Davidson, 2004. "Multidivisional firms, internal competition, and the merger paradox," Canadian Journal of Economics, Canadian Economics Association, vol. 37(4), pages 951-977, November.
  6. Tomaso Duso & Klaus Gugler & Florian Szücs, 2013. "An Empirical Assessment of the 2004 EU Merger Policy Reform," Economic Journal, Royal Economic Society, vol. 123(11), pages 596-619, November.
  7. Joseph A. Clougherty & Tomaso Duso, 2010. "Using Rival Effects to Identify Synergies and Improve Merger Typologies," CIG Working Papers SP II 2010-13, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
  8. Huck, Steffen & Konrad, Kai A. & Müller, Wieland, 2001. "Profitable horizontal mergers without cost advantages: The role of internal organization, information, and market structure," Discussion Papers, various Research Units FS IV 01-05, WZB Berlin Social Science Center.
  9. Shahrur, Husayn, 2005. "Industry structure and horizontal takeovers: Analysis of wealth effects on rivals, suppliers, and corporate customers," Journal of Financial Economics, Elsevier, vol. 76(1), pages 61-98, April.
  10. Sergio Currarini & Marco A. Marini, 2015. "Coalitional Approaches to Collusive Agreements in Oligopoly Games," Manchester School, University of Manchester, vol. 83(3), pages 253-287, June.
  11. Whitley, John E., 2001. "The Gains and Losses from Agricultural Concentration," 2001 Conference (45th), January 23-25, 2001, Adelaide, Australia 126059, Australian Agricultural and Resource Economics Society.
  12. Pulak Mishra & Neha Jaiswal, 2017. "Impact of Mergers and Acquisitions on Firms’ Export Competitiveness," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 18(1), pages 1-20, March.
  13. Sven-Olof Fridolfsson & Johan Stennek, 2005. "Why Mergers Reduce Profits And Raise Share Prices-A Theory Of Preemptive Mergers," Journal of the European Economic Association, MIT Press, vol. 3(5), pages 1083-1104, September.
  14. Boateng, Agyenim & Du, Min & Bi, XiaoGang & Lodorfos, George, 2019. "Cultural distance and value creation of cross-border M&A: The moderating role of acquirer characteristics," International Review of Financial Analysis, Elsevier, vol. 63(C), pages 285-295.
  15. Duso, Tomaso & Gugler, Klaus & Yurtoglu, Burcin B., 2011. "How effective is European merger control?," European Economic Review, Elsevier, vol. 55(7), pages 980-1006.
  16. Amir, Rabah & Diamantoudi, Effrosyni & Xue, Licun, 2009. "Merger performance under uncertain efficiency gains," International Journal of Industrial Organization, Elsevier, vol. 27(2), pages 264-273, March.
  17. Michael Cichello & Douglas Lamdin, 2006. "Event Studies and the Analysis of Antitrust," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 13(2), pages 229-245.
  18. Thomas Giebe & Miyu Lee, 2020. "Competitors in merger control: Shall they be merely heard or also listened to?," European Journal of Law and Economics, Springer, vol. 49(3), pages 431-453, June.
  19. Huck, Steffen & Konrad, Kai A. & Müller, Wieland, 2000. "Profitable horizontal mergers: A market structure-oriented view," SFB 373 Discussion Papers 2000,27, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
  20. Chopard, Bertrand & Cortade, Thomas & Cosnita-Langlais, Andreea, 2015. "Success and failure of bargaining in merger control: The case of asset divestitures," Economic Modelling, Elsevier, vol. 49(C), pages 254-259.
  21. Ziming Meng & Xin Wang, 2021. "The Effects of Outbound Mergers and Acquisitions (M&As) on Chinese Automobile Corporations’ Performance: A Case Study of Geely’s Acquisition of Volvo," International Business Research, Canadian Center of Science and Education, vol. 14(7), pages 1-36, July.
  22. Dodonova, Anna, 2013. "Preemptive bidding in takeover auctions with externality," Journal of Economics and Business, Elsevier, vol. 69(C), pages 35-44.
  23. Sven‐Olof Fridolfsson & Johan Stennek, 2010. "Industry Concentration and Welfare: On the Use of Stock Market Evidence from Horizontal Mergers," Economica, London School of Economics and Political Science, vol. 77(308), pages 734-750, October.
  24. Whitley John, 2002. "The Gains and Losses from Agricultural Concentration: A Critical Survey of the Literature," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 1(1), pages 1-20, October.
  25. Lars-Hendrik Röller & Johan Stennek & Frank Verboven, 2006. "Efficiency Gains from Mergers," Chapters, in: Fabienne IIzkovitz & Roderick Meiklejohn (ed.), European Merger Control, chapter 3, Edward Elgar Publishing.
  26. Fridolfsson, Sven-Olof & Stennek, Johan, 1999. "Why Mergers Reduce Profits, and Raise Share Prices," Working Paper Series 511, Research Institute of Industrial Economics, revised 03 Dec 2001.
  27. Valérie Moatti & Charlotte R. Ren & Jaideep Anand & Pierre Dussauge, 2015. "Disentangling the performance effects of efficiency and bargaining power in horizontal growth strategies: An empirical investigation in the global retail industry," Strategic Management Journal, Wiley Blackwell, vol. 36(5), pages 745-757, May.
  28. Joseph A. Clougherty & Tomaso Duso, 2009. "The Impact of Horizontal Mergers on Rivals: Gains to Being Left Outside a Merger," Journal of Management Studies, Wiley Blackwell, vol. 46(8), pages 1365-1395, December.
  29. Fridolfsson, Sven-Olof & Stennek, Johan, 2005. "Hold-up of anti-competitive mergers," International Journal of Industrial Organization, Elsevier, vol. 23(9-10), pages 753-775, December.
  30. Steffen Huck & Kai A. Konrad & Wieland Müller & Hans-Theo Normann, 2007. "The Merger Paradox and why Aspiration Levels Let it Fail in the Laboratory," Economic Journal, Royal Economic Society, vol. 117(522), pages 1073-1095, July.
  31. Utz Weitzel & Killian J. McCarthy, 2011. "Theory and evidence on mergers and acquisitions by small and medium enterprises," International Journal of Entrepreneurship and Innovation Management, Inderscience Enterprises Ltd, vol. 14(2/3), pages 248-275.
  32. Jrisy Motis, 2007. "Mergers and Acquisitions Motives," Working Papers 0730, University of Crete, Department of Economics.
  33. Yung-Chang Hsiao & Jun-You Lin, 2023. "Knowledge management and innovation: evidence of international joint venture," Scientometrics, Springer;Akadémiai Kiadó, vol. 128(1), pages 87-113, January.
  34. Ajeyo Banerjee & E. Woodrow Eckard, 2001. "Why Regulate Insider Trading? Evidence from the First Great Merger Wave (1897-1903)," American Economic Review, American Economic Association, vol. 91(5), pages 1329-1349, December.
  35. Oh, Seungjoon, 2018. "Fire-sale acquisitions and intra-industry contagion," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 265-293.
  36. Pulak Mishra, 2018. "Are Mergers and Acquisitions Necessarily Anti-competitive? Empirical Evidence from India’s Manufacturing Sector," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 12(3), pages 276-307, August.
  37. repec:hum:wpaper:sfb649dp2015-011 is not listed on IDEAS
  38. John S. Heywood & Matthew McGinty, 2008. "Leading and Merging: Convex Costs, Stackelberg, and the Merger Paradox," Southern Economic Journal, John Wiley & Sons, vol. 74(3), pages 879-893, January.
  39. Damien Neven & Hans Zenger, 2008. "Ex Post Evaluation of Enforcement: A Principal-Agent Perspective," De Economist, Springer, vol. 156(4), pages 477-490, December.
  40. Tomaso Duso & Klaus Gugler & Burcin Yurtoglu, 2005. "EU Merger Remedies: A Preliminary Empirical Assessment," CIG Working Papers SP II 2005-16, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
  41. Jeddy, Mohamed & Larue, Bruno, 2012. "Mergers, concurrent marketing mechanisms and the performance of sequential auctions," Working Papers 126945, Structure and Performance of Agriculture and Agri-products Industry (SPAA).
  42. Darren Filson & Saman Olfati & Fatos Radoniqi, 2015. "Evaluating Mergers in the Presence of Dynamic Competition Using Impacts on Rivals," Journal of Law and Economics, University of Chicago Press, vol. 58(4).
  43. John A. Doukas & Wenjia Zhang, 2016. "Envy†Motivated Merger Waves," European Financial Management, European Financial Management Association, vol. 22(1), pages 63-119, January.
  44. Jaworski, Taylor, 2020. "Specification and structure in economic history," Explorations in Economic History, Elsevier, vol. 77(C).
  45. Gao, Zaihan & Bao, Yue, 2023. "An investigation of market reaction differences between mega-deals and non–mega deals considering industry concentration," Finance Research Letters, Elsevier, vol. 51(C).
  46. Bittlingmayer, George & Hazlett, Thomas W., 2000. "DOS Kapital: Has antitrust action against Microsoft created value in the computer industry?," Journal of Financial Economics, Elsevier, vol. 55(3), pages 329-359, March.
  47. Rupendra Paliwal, 2010. "Intra Industry Effects Of Takeovers: A Study Of The Operating Performance Of Rival Firms," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 4(2), pages 97-115.
  48. He Soung Ahn, 2020. "Sustaining the Family Business through Open Innovation: The Role of Technological Acquisitions in Shareholder Value Creation," Sustainability, MDPI, vol. 12(18), pages 1-17, September.
  49. Günster, Andrea & van Dijk, Mathijs, 2016. "The impact of European antitrust policy: Evidence from the stock market," International Review of Law and Economics, Elsevier, vol. 46(C), pages 20-33.
  50. Thomas Poulsen & Charlotte Bay Hasager, 2017. "The (R)evolution of China: Offshore Wind Diffusion," Energies, MDPI, vol. 10(12), pages 1-32, December.
  51. Avdasheva, Svetlana & Tsytsulina, Dina, 2015. "The effects of M&As in highly concentrated domestic vis-à-vis export markets: By the example of Russian metal industries," Research in International Business and Finance, Elsevier, vol. 34(C), pages 368-382.
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