Studies in Industrial Organization

Mergers, Markets and Public Policy

Editors: Mussati, Giuliano (Ed.)

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About this book

GIULIANO MUSSATI Why do mergers occur, which are their effects on social welfare and which is the best economic policy toward them? These three questions have been puzzling industrial economists since the end of the last century when the first great merger wave has come about in the US. They have returned at the centre of the stage of the theoretical and empirical economic research during the last decade when merger and acquisition activity became one of the most evident firms' activities in all industrialised countries, being fostered by some general and country specific facts. These facts have been identified in the appearance of new financial instruments facilitating fund raising by firms, in the benevolent behaviour of the authorities in charge of competition policy during the Reagan administration in the US, while inter­ nal market completion has become a strong incentive for European firms to reach a true continental dimension in the UE through external growth. However a robust and univocal answer to these questions has not yet been found in spite of its importance not only from the theoretical point of view, but also from the normative one. In fact the correct identification of firms' motivations in pursuing merger and acquisition operations and of their consequences on social welfare would help the choice by administra­ tive authorities of different possible options in competition and industrial policies.

Table of contents (8 chapters)

  • Introduction

    Mussati, Giuliano

    Pages 1-8

  • Mergers: Theory and Evidence

    Mueller, Dennis C.

    Pages 9-43

  • Merger Activity and Antitrust Policy in the United States

    Smiley, Robert H.

    Pages 45-79

  • Horizontal Concentration and European Merger Policy

    Jacquemin, Alexis

    Pages 81-94

  • Competition Policy in the Federal Republic of Germany

    Neumann, Manfred

    Pages 95-131

Buy this book

eBook $74.99
price for USA (gross)
  • ISBN 978-94-011-0387-9
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $99.00
price for USA
  • ISBN 978-0-7923-3643-3
  • Free shipping for individuals worldwide
  • This title is currently reprinting. You can pre-order your copy now.
Softcover $99.00
price for USA
  • ISBN 978-94-010-4173-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Mergers, Markets and Public Policy
Editors
  • Giuliano Mussati
Series Title
Studies in Industrial Organization
Series Volume
21
Copyright
1995
Publisher
Springer Netherlands
Copyright Holder
Springer Science+Business Media Dordrecht
eBook ISBN
978-94-011-0387-9
DOI
10.1007/978-94-011-0387-9
Hardcover ISBN
978-0-7923-3643-3
Softcover ISBN
978-94-010-4173-7
Series ISSN
0924-4646
Edition Number
1
Number of Pages
X, 221
Number of Illustrations and Tables
1 b/w illustrations
Topics