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題名 垂直結合廠商防止連續結合的先占策略
Preempting Successive Mergers by a Vertically Merged Firm作者 張馨云 貢獻者 溫偉任
張馨云關鍵詞 Preempting successive mergers
Vertically merged firm日期 2018 上傳時間 1-Oct-2018 12:05:35 (UTC+8) 摘要 We investigate strategies that an incumbent vertically merged firm will implement to achieve maximal profit. When a horizontal merger occurs, it will decrease the profit of a vertically merged firm. Thus, the vertically merged firm will preempt the horizontal merger by merging with one of the downstream firms. However, this leaves open possibility for remaining firms to merge vertically. We then further analyze how a vertically merged firm preempts subsequent vertical mergers. We find that, among various preempting strategies, it is most profitable for the firm to merge with all of the downstream firms. 參考文獻 [1] Clark, D. and Worthen, B., 2009. “Oracle Snatches Sun, Foiling IBM,” The Wall Street Journal, Eastern edition, New York, N.Y., 21 April, 2009: A.1.[2] Colangelo, G., 1995. “Vertical vs. Horizontal Integration: Pre-emptive Merging,” The Journal of Industrial Economics, 43(3), 323-337.[3] Greenwald, T., 2018. “Why Intel Is So Wary of a Broadcom-Qualcomm Merger,” The Wall Street Journal, (March 11), https://www.wsj.com/articles/why-intel-isso-wary-of-a-broadcom-qualcomm-merger-1520800808[4] H¨ackner, J., 2000. “A Note on Price and Quantity Competition in Di↵erentiated Oligopolies,” Journal of Economic Theory, 93, 233-239.[5] H¨ackner, J., 2003. “Vertical Integration and Competition Policy,” Journal of Regulatory Economics, 24(2), 213-222.[6] Hung, F. and Gold, M., 2014. “Foxconn to buy 390 million dollars stake in Taiwan telecom operator in 4G push,” Yahoo Finance, (May 27), https://finance.yahoo.com/news/foxconn-buy-390-million-stake-071639997.html[7] Meyersohn, N. and Horowitz, J., 2018. “Broadcom officially ends bid for Qualcomm,” CNNMoney, (March 14), https://money.cnn.com/2018/03/14/news/companies/broadcom-qualcommdeal-trump/index.html[8] Narioka, K., 2018. “China Approves Toshiba’s 18 Billion Dollars Sale of Its Memory-Chip Unit,” The Wall Street Journal, (May 17), https://www.wsj.com/articles/china-approves-toshibas-18-billion-sale-of-memorychip-unit-1526552434[9] Ordover, J. A., Saloner, G. and Salop, S. C., 1990, “Equilibrium Vertical Foreclosure,” The American Economic Review, 80(1), p.127-142.[10] Yao, Z. and Zhou, W., 2015, “Vertical or Horizontal: Endogenous Merger Waves in Vertically Related Industries,” The B.E. Journal of Economics Analysis and Policy, 15(3), p.1237-1262. 描述 碩士
國立政治大學
國際經營與貿易學系
105351015資料來源 http://thesis.lib.nccu.edu.tw/record/#G1053510151 資料類型 thesis dc.contributor.advisor 溫偉任 zh_TW dc.contributor.author (Authors) 張馨云 zh_TW dc.creator (作者) 張馨云 zh_TW dc.date (日期) 2018 en_US dc.date.accessioned 1-Oct-2018 12:05:35 (UTC+8) - dc.date.available 1-Oct-2018 12:05:35 (UTC+8) - dc.date.issued (上傳時間) 1-Oct-2018 12:05:35 (UTC+8) - dc.identifier (Other Identifiers) G1053510151 en_US dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/120228 - dc.description (描述) 碩士 zh_TW dc.description (描述) 國立政治大學 zh_TW dc.description (描述) 國際經營與貿易學系 zh_TW dc.description (描述) 105351015 zh_TW dc.description.abstract (摘要) We investigate strategies that an incumbent vertically merged firm will implement to achieve maximal profit. When a horizontal merger occurs, it will decrease the profit of a vertically merged firm. Thus, the vertically merged firm will preempt the horizontal merger by merging with one of the downstream firms. However, this leaves open possibility for remaining firms to merge vertically. We then further analyze how a vertically merged firm preempts subsequent vertical mergers. We find that, among various preempting strategies, it is most profitable for the firm to merge with all of the downstream firms. en_US dc.description.tableofcontents 1 Introduction 32 The Model 53 The Successive Model 63.1 A Vertically Merged Firm, a Non-Merged Upstream Firm and Two Non-Merged Downstream Firms 73.2 A Vertically Merged Firm, a Horizontally Merged Firm and a Non-Merged Upstream Firm 93.3 A Vertically Merged Firm Preempts the Horizontal Merger by Merging with the Downstream Firm 143.4 A Vertically Merged Firm Preempts the Vertical Merger by Merging with the Downstream Firm 194 Conclusion 22References 24 zh_TW dc.format.extent 609890 bytes - dc.format.mimetype application/pdf - dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G1053510151 en_US dc.subject (關鍵詞) Preempting successive mergers en_US dc.subject (關鍵詞) Vertically merged firm en_US dc.title (題名) 垂直結合廠商防止連續結合的先占策略 zh_TW dc.title (題名) Preempting Successive Mergers by a Vertically Merged Firm en_US dc.type (資料類型) thesis en_US dc.relation.reference (參考文獻) [1] Clark, D. and Worthen, B., 2009. “Oracle Snatches Sun, Foiling IBM,” The Wall Street Journal, Eastern edition, New York, N.Y., 21 April, 2009: A.1.[2] Colangelo, G., 1995. “Vertical vs. Horizontal Integration: Pre-emptive Merging,” The Journal of Industrial Economics, 43(3), 323-337.[3] Greenwald, T., 2018. “Why Intel Is So Wary of a Broadcom-Qualcomm Merger,” The Wall Street Journal, (March 11), https://www.wsj.com/articles/why-intel-isso-wary-of-a-broadcom-qualcomm-merger-1520800808[4] H¨ackner, J., 2000. “A Note on Price and Quantity Competition in Di↵erentiated Oligopolies,” Journal of Economic Theory, 93, 233-239.[5] H¨ackner, J., 2003. “Vertical Integration and Competition Policy,” Journal of Regulatory Economics, 24(2), 213-222.[6] Hung, F. and Gold, M., 2014. “Foxconn to buy 390 million dollars stake in Taiwan telecom operator in 4G push,” Yahoo Finance, (May 27), https://finance.yahoo.com/news/foxconn-buy-390-million-stake-071639997.html[7] Meyersohn, N. and Horowitz, J., 2018. “Broadcom officially ends bid for Qualcomm,” CNNMoney, (March 14), https://money.cnn.com/2018/03/14/news/companies/broadcom-qualcommdeal-trump/index.html[8] Narioka, K., 2018. “China Approves Toshiba’s 18 Billion Dollars Sale of Its Memory-Chip Unit,” The Wall Street Journal, (May 17), https://www.wsj.com/articles/china-approves-toshibas-18-billion-sale-of-memorychip-unit-1526552434[9] Ordover, J. A., Saloner, G. and Salop, S. C., 1990, “Equilibrium Vertical Foreclosure,” The American Economic Review, 80(1), p.127-142.[10] Yao, Z. and Zhou, W., 2015, “Vertical or Horizontal: Endogenous Merger Waves in Vertically Related Industries,” The B.E. Journal of Economics Analysis and Policy, 15(3), p.1237-1262. zh_TW dc.identifier.doi (DOI) 10.6814/THE.NCCU.IB.036.2018.F06 en_US
