Horizontal mergers and divestment dynamics in a sunset industry.
Industries with declining demand tend to be riddled with chronic excess capital due to the presence of a business-stealing effect and fixed costs. This article highlights the potential of mergers to internalize this business-stealing effect and thereby promote divestment. Using the case of mergers i...
| Publicado en: | RAND Journal of Economics (Wiley-Blackwell) Vol. 47; no. 4; pp. 961 - 998 |
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| Formato: | Artículo |
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Wiley-Blackwell
Winter2016
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| Acceso en línea: | Ver este registro en EBSCOhost |