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Article: Merger waves: A model of endogenous mergers

TitleMerger waves: A model of endogenous mergers
Authors
Qiu, LDZhou, W
Issue Date2007
PublisherWiley-Blackwell Publishing, Inc.. The Journal's web site is located at http://www.rje.org/
Citation
Rand Journal Of Economics, 2007, v. 38 n. 1, p. 214-226 How to Cite?
DOI: http://dx.doi.org/10.1111/j.1756-2171.2007.tb00052.x
AbstractWe develop a model of endogenous mergers to study their dynamic process. Firms choose whether, when, and with whom to merge. Two necessary conditions are identified for mergers to occur: firm heterogeneity and negative demand shocks. We show that mergers are strategic complements and therefore tend to occur in waves. Moreover, some mergers occur for strategic reasons in order to precipitate further mergers. Copyright © 2007, RAND.
Persistent Identifierhttp://hdl.handle.net/10722/125583
ISSN
0741-6261
2021 Impact Factor: 2.250
2020 SCImago Journal Rankings: 3.687
ISI Accession Number ID
WOS:000250674100012
References
References in Scopus

 

DC FieldValueLanguage
dc.contributor.authorQiu, LDen_HK
dc.contributor.authorZhou, Wen_HK
dc.date.accessioned2010-10-31T11:39:43Z-
dc.date.available2010-10-31T11:39:43Z-
dc.date.issued2007en_HK
dc.identifier.citationRand Journal Of Economics, 2007, v. 38 n. 1, p. 214-226en_HK
dc.identifier.issn0741-6261en_HK
dc.identifier.urihttp://hdl.handle.net/10722/125583-
dc.description.abstractWe develop a model of endogenous mergers to study their dynamic process. Firms choose whether, when, and with whom to merge. Two necessary conditions are identified for mergers to occur: firm heterogeneity and negative demand shocks. We show that mergers are strategic complements and therefore tend to occur in waves. Moreover, some mergers occur for strategic reasons in order to precipitate further mergers. Copyright © 2007, RAND.en_HK
dc.languageengen_HK
dc.publisherWiley-Blackwell Publishing, Inc.. The Journal's web site is located at http://www.rje.org/en_HK
dc.relation.ispartofRAND Journal of Economicsen_HK
dc.rightsThis work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.-
dc.titleMerger waves: A model of endogenous mergersen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0741-6261&volume=38&spage=214&epage=226&date=2007&atitle=Merger+waves:+A+model+of+endogenous+mergersen_HK
dc.identifier.emailQiu, LD: larryqiu@hku.hken_HK
dc.identifier.emailZhou, W: wzhou@hkucc.hku.hken_HK
dc.identifier.authorityQiu, LD=rp01093en_HK
dc.identifier.authorityZhou, W=rp01128en_HK
dc.description.naturepreprint-
dc.identifier.doi10.1111/j.1756-2171.2007.tb00052.xen_HK
dc.identifier.scopuseid_2-s2.0-36549040012en_HK
dc.identifier.hkuros181664en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-36549040012&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume38en_HK
dc.identifier.issue1en_HK
dc.identifier.spage214en_HK
dc.identifier.epage226en_HK
dc.identifier.eissn1756-2171-
dc.identifier.isiWOS:000250674100012-
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridQiu, LD=7201538008en_HK
dc.identifier.scopusauthoridZhou, W=10739745800en_HK
dc.identifier.issnl0741-6261-

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