A familiar result in the literature on mergers is that the principal beneficiaries from such activity are the firms which are excluded from participation. The possible existence of this ‘merger paradox’ contrasts strongly with the frequently expressed view that merger is anti-competitive. This paper examines the question within the context of a model of spatial competition in which firms choose...

We study the incentives for a “diagonal” merger between two Internet Service Providers, one a wireless retail only ISP in two origination markets, and the second a vertically integrated wired retailer in one market and an upstream provider in the other. The merger’s effects depend on differentiation in access modalities; only with high differentiation does the merger have positive welfare effec...

In October 2008, the Department of Justice approved the Delta/Northwest merger, claiming the potential for substantial cost efficiencies with little or no harmful effects on competition. What makes this merger particularly interesting is that Delta and Northwest are codeshare partners. As such, the merger could have varying effects across different product types (pure online versus codeshare). ...

This paper investigates the effects of analyst recommendations issued after a merger announcement on deal completion. We find the probability of completion increases (decreases) with the favorability of acquirer (target) recommendations. Results from instrumental variables tests support causality running from recommendations to merger outcomes. Additional tests suggest that these relations are ...

The volatile environment is nothing new, but in the last two years, when world had to cope with a pandemic, it was agile companies that were able survive or even make profit. More than ever, business done through projects and practices used difference between being fast follower. present work analyzes presence of context merger acquisition European Chinese company Europe. For assessment volatil...

At present, the world is undergoing profound changes unseen in a century, and international political economic governance system changes. Protectionism antiglobalization are on rise, normalization of COVID-19 prevention control has intensified investment trade frictions. The domestic foreign environment faced by overseas merger Chinese power enterprises increasingly complex, potential risks unc...

A three-dimensional hydrodynamical N-body model for the formation of the Galaxy is presented with special attention to the formation of the bulge component. Since all previous numerical models for the Galaxy formation do not have a proper treatment of the chemical evolution and/or sufficient spatial resolutions, we have constructed a detailed model of the chemical and dynamical evolution of the...

Purpose: Analysing financial performance is one of the popular methods for measuring operational efficiency a firm. Ratio analysis an important tool analysis. The key parameters enables diverse group stakeholders to obtain information about profitability and growth prospects. Mergers acquisitions are means inorganic growth. Indian Banking Industry has used this effective consolidate grow in siz...

We use semi-analytical modelling of galaxy formation to study the redshift evolution of the galaxy merger fractions and merger rates in ΛCDM and quintessence (QCDM) cosmologies, their dependence on physical parameters as the environment, the merger timescale, the way major mergers are defined, and the minimum mass of objects taken into account. We find that for a given final halo mass the redsh...