| dc.contributor | 財管系 | - |
| dc.creator (作者) | 張元晨 | - |
| dc.creator (作者) | Chakrabarti, Avik;Hsieh, Yi-Ting; Chang, Yuanchen | - |
| dc.date (日期) | 2017 | - |
| dc.date.accessioned | 5-Jun-2017 14:47:03 (UTC+8) | - |
| dc.date.available | 5-Jun-2017 14:47:03 (UTC+8) | - |
| dc.date.issued (上傳時間) | 5-Jun-2017 14:47:03 (UTC+8) | - |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/110182 | - |
| dc.description.abstract (摘要) | We present a tractable model of oligopoly to identify the linkages between local competition and cross-border mergers in a vertically related industry. We show that the incentives for cross-border mergers rise with vertical integration in an industry when the premerger concentration in that industry is sufficiently high relative to the concentration in the same industry in a foreign country. We also show that the incentives for a merger between a foreign firm and a vertically integrated home firm will be higher than that for a merger between a foreign firm and a disintegrated home firm, when the premerger concentration at home is low relative to the premerger concentration in the foreign country. We then analyze a firm-level panel of 90,614 M&A observations, between 1990 and 2012, from 86 countries. Logistic regressions confirm that market concentration is an important determinant of cross-border M&A. Our results support the conjectures of our theoretical model and are consistent with recent empirical findings and theoretical predictions. | - |
| dc.format.extent | 111 bytes | - |
| dc.format.mimetype | text/html | - |
| dc.relation (關聯) | The Journal of International Trade & Economic Development, Volume 26, Issue 1 , Pages 111-130 | - |
| dc.subject (關鍵詞) | Market concentration; cross-border merger; vertical integration; oligopoly; panel data | - |
| dc.title (題名) | Cross-Border Mergers and Market Concentration in a Vertically Related Industry: Theory and Evidence | - |
| dc.type (資料類型) | article | - |
| dc.identifier.doi (DOI) | 10.1080/09638199.2016.1220971 | - |
| dc.doi.uri (DOI) | http://dx.doi.org/10.1080/09638199.2016.1220971 | - |
