Scale Economies and Synergies in Horizontal Merger Analysis
نویسندگان
چکیده
منابع مشابه
Quantifying Operational Synergies in a Merger/Acquisition
Merger and acquisition activity has increased sharply in the last decade. While the shareholders of the target firms appear to reap economic benefits from mergers, those of the bidder firms often do not fare well. In such an environment, it seems useful to have models that can help senior managers of bidder firms make informed decisions about the amount of premium, over target’s share prices pr...
متن کاملRevising the Horizontal Merger Guidelines
The U.S. Department of Justice and the Federal Trade Commission are currently in the process of revising their Horizontal Merger Guidelines. I explain that if a revision is to occur, then there are certain parts of the Guidelines that are most in need of revision, including the sections on unilateral and coordinated effects, committed and uncommitted entry, numerical concentration thresholds fo...
متن کاملEconomies of scale and a process for identifying hypothetical merger potential in Indonesian commercial banks
The aim of this study, through the estimation of a cost function, is to estimate the scale economies and scale and X-inefficiencies of commercial banks operating in Indonesia with a view to identifying hypothetical mergers that could deliver significant cost savings. Economies of scale are typically only found for the largest and smallest banks, with the industry’s estimated scale inefficiency ...
متن کاملCost Synergies and Post-Merger Predictions in Asymmetric Logit Environments
Using the experimental method we evaluate the Antitrust Logit Model (ALM), a merger simulation device used by U.S. antitrust authorities to help identify problematic horizontal mergers. We focus on environments with asymmetric sellers pre-merger. Our treatments include consolidations that generate merger-specific synergies, and variations in the magnitude of predicted post-merger price increase...
متن کاملThe Economies of Scale in Iran Manufacturing Establishments
One of the topics after two decades of applying import substitution policy in Iran manufacturing sector is the importance of industrial export expansion and foreign relations. The main impetus to this policy transfer is the market expansion and potential gains of exploiting the economies of scale and technical upgrades. Based on this argument this research estimates the efficient scale and gain...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2004
ISSN: 1556-5068
DOI: 10.2139/ssrn.502846