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Vertical Mergers And Integration In Digital Markets
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Book Synopsis Vertical Mergers and Integration in Digital Markets by : John M. Yun
Download or read book Vertical Mergers and Integration in Digital Markets written by John M. Yun and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this chapter, we address three issues relating to vertical mergers and antitrust: (1) incorporating the elimination of double marginalization into the analysis of the likelihood of a unilateral price effect rather than treating it as a separate efficiencies defense; (2) recognizing, inter alia, the importance of reduced transaction costs in analyzing the efficiencies commonly associated with vertical mergers; and (3) highlighting that the weight of the empirical evidence continues to support the proposition that vertical mergers are less likely to generate competitive concerns than horizontal mergers.
Book Synopsis Vertical Integration and R&D Information Flow by : Stefan Georg Hunger
Download or read book Vertical Integration and R&D Information Flow written by Stefan Georg Hunger and published by GRIN Verlag. This book was released on 2005-10-03 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2004 in the subject Business economics - Industrial Management, grade: Sehr Gut, University of Vienna (Fakultät für Wirtschaftswissenschaften), course: Industrial Management, language: English, abstract: In explaining the reasons for the large number of mergers among multinational companies as well as small specialized businesses in recent years, the realization of potential synergies among the merging firms has often been pointed out. Synergy is a ‘Holy Grail’ of business strategy; many seek it but few actually succeed and most attempts at developing synergies meet at a non desirable fate. A global survey of A.T. Kearney (1998) concluded that after three years of a transaction the profitability of the integrated firm decreases by 10 % on average and 50 % of alliances in the USA fail within four years. Nevertheless, it is particularly claimed that a vertical integration will enable the supplier to adapt his technology in a much higher degree to the needs of his customer than when he is separately owned . A world-wide study of Arthur Andersen elaborated on the factors which firms look upon when striving for merging with another company.
Book Synopsis Competition in Digital Markets by : Cho
Download or read book Competition in Digital Markets written by Cho and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Vertical Mergers and the Market Valuation of the Benefits of Vertical Integration by : Simi Kedia
Download or read book Vertical Mergers and the Market Valuation of the Benefits of Vertical Integration written by Simi Kedia and published by . This book was released on 2009 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the market reaction to vertical mergers and incorporates into the analysis predictions based on I/O theories.We develop a classification to separate the various types of mergers, and focus on the determinants and wealth impacts of vertical mergers over the period 1979-2002. Abnormal returns for vertical merger announcements are positive until 1996, and turn negative afterwards. Acquirers suffer most of the losses. We present and test several hypotheses based upon some well known I/O theories of vertical integration. We find support for the most fundamental insight in the I/O literature, namely, that vertical mergers generate most value when undertaken in imperfectly competitive markets and when firms have to invest in specialized assets making market exchanges difficult. There is little evidence to support the view that information based contracting problems or price uncertainty, at least as captured in this paper, generate a value maximizing rationale for vertical integration. However, we show that informational asymmetries can increase the value of horizontal mergers.
Book Synopsis The Antitrust Paradox by : Robert Bork
Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
Book Synopsis Killer Acquisitions in Digital Markets: An Analysis of the EU Merger Control Regime by : Giulia Sonderegger
Download or read book Killer Acquisitions in Digital Markets: An Analysis of the EU Merger Control Regime written by Giulia Sonderegger and published by buch & netz. This book was released on 2024-06-10 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: In her PhD thesis, Giulia Aurélie Sonderegger analyses killer acquisitions, which, in short, are acquisitions that aim to pre-empt potential future competition at an early stage. While this phenomenon was originally discovered in pharmaceutical markets, this thesis exclusively discusses killer acquisitions in the context of digital markets, thereby primarily focusing on the current European Merger Control Regulation (EUMR). The main research question is whether the EUMR is appropriate to tackle killer acquisitions occurring in digital markets, and if not, in what ways it needs to be amended to better address the challenges in the future. To tackle this question, the author assesses both the economic and legal effects of killer acquisitions on merger control in digital markets and, based on her findings, suggests amendments to the current European merger control regime. For a more comprehensive analysis, this thesis also includes an assessment of the recently enacted Digital Markets Act (DMA) to ascertain whether this regulation may serve as an additional tool to remedy such transactions.
Book Synopsis Vertical Mergers in Platform Markets by : Jérôme Pouyet
Download or read book Vertical Mergers in Platform Markets written by Jérôme Pouyet and published by . This book was released on 2016 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the competitive impact of vertical integration between a platform and a manufacturer when platforms provide operating systems for devices sold by manufacturers to customers, and, customers care about the applications developed for the operating systems. Two-sided network effects between customers and developers create strategic substitutability between manufacturers' prices. When it brings efficiency gains, vertical integration increases consumer surplus, is not profitable when network effects are strong, and, benefits the non-integrated manufacturer. When developers bear a cost to make their applications available on a platform, manufacturers boost the participation of developers by affiliating with the same platform. This creates some market power for the integrated firm and vertical integration then harms consumers, is always profitable, and, leads to foreclosure. Introducing developer fees highlights that not only the level, but also the structure of indirect network effects matter for the competitive analysis.
Book Synopsis Vertical Integration and Market Foreclosure by : Oliver D. Hart
Download or read book Vertical Integration and Market Foreclosure written by Oliver D. Hart and published by . This book was released on 1990 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few people would disagree with the proposition that horizontal mergers have the potential to restrict output and raise consumer prices. In contrast, there is much less agreement about the anti-competitive effects of vertical mergers. The purpose of this paper is to develop a theoretical model showing how vertical integration changes the nature of competition in upstream and downstream markets and identifying conditions under which market foreclosure will be a consequence or even a purpose of such integration. In contrast to much of the literature, we do not restrict upstream and downstream firms to particular contractual arrangements, but instead allow firms to choose from a full set of contractual arrangements both when integrated and when not. We also allow non-integrated firms to respond optimally to the integration decisions of other firms, either by remaining nonintegrated, exiting the industry or integrating too (i.e. bandwagoning). In a final section we use our analysis to shed some light on a number of prominent vertical merger cases, involving computer reservation systems for airlines, the cement industry and the St. Louis Terminal Railroad.
Book Synopsis Is Vertical Integration Profitable? by : Buzzell
Download or read book Is Vertical Integration Profitable? written by Buzzell and published by . This book was released on 1983-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Merge and Compete by : Filippo Vergara Caffarelli
Download or read book Merge and Compete written by Filippo Vergara Caffarelli and published by . This book was released on 2006 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economic Assessment of Mergers Under European Competition Law by : Daniel Gore
Download or read book The Economic Assessment of Mergers Under European Competition Law written by Daniel Gore and published by Cambridge University Press. This book was released on 2013-04-25 with total page 559 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a clear, concise and practical overview of the key economic techniques and evidence employed in European merger control.
Book Synopsis Concentration-based Merger Tests and Vertical Market Structure by :
Download or read book Concentration-based Merger Tests and Vertical Market Structure written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Market Structure and the Competitive Effects of Vertical Integration by : Simon Loertscher
Download or read book Market Structure and the Competitive Effects of Vertical Integration written by Simon Loertscher and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the competitive effects of backward vertical integration when firms exert market power upstream and compete à la Cournot downstream. Contrasting with previous literature, a small degree of vertical integration is always procompetitive because efficiency gains dominate foreclosure effects, and vertical integration even to full foreclosure can be procompetitive. Surprisingly, vertical integration is more likely to be procompetitive if the industry is otherwise more concentrated. Extensions analyze incentives to integrate and differentiated Bertrand competition downstream. Our analysis suggests that antitrust authorities should be wary of vertical integration when the integrating firm faces many competitors and should be permissive otherwise.
Book Synopsis Platforms, Markets and Innovation by : Annabelle Gawer
Download or read book Platforms, Markets and Innovation written by Annabelle Gawer and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt: In her pioneering book Platform Leadership (with Michael Cusumano), Gawer gave us the strategy of building coalitions of customers, suppliers, and complementors. Now, she brings together a number of the leading researchers in the area of platform strategy to give us a book that will be a key reference for both practitioners and academics. Adam Brandenburger, New York University, US Annabelle Gawer s collected volume of research shows that a vibrant community of scholars has arisen around platforms and innovation. Each of the chapters is first rate, with top researchers offering some of their latest work. This will be an indispensable book for students of innovation and technology management everywhere. Henry Chesbrough, University of California, Berkeley, US Annabelle Gawer s Platforms, Markets and Innovation is the first serious exploration of the critical but subtle role that platforms play in business, society and our personal lives. As digital technologies penetrate every nook and cranny of the world around us, we rely on platforms to both help us use the new technologies, as well as to organize new markets of innovation that add applications on top of the platforms and make them far more valuable. Dr Gawer s excellent book is designed to help us understand the mysterious nature of platforms. It brings together the insights of twenty-four experts around the world who contributed to the fourteen chapters of the book. Dr Gawer s book is invaluable to anyone trying to understand the nuanced nature of platforms, and their implications for the evolution of innovation in the 21st century. Irving Wladawsky-Berger, IBM Academy of Technology, US The emergence of platforms is a novel phenomenon impacting most industries, from products to services. Industry platforms such as Microsoft Windows or Google, embedded within industrial ecosystems, have redesigned our industrial landscapes, upset the balance of power between firms, fostered innovation and raised new questions on competition and innovation. Annabelle Gawer presents cutting-edge contributions from 24 top international scholars from 19 universities across Europe, the USA and Asia, from the disciplines of strategy, economics, innovation, organization studies and knowledge management. The novel insights assembled in this volume constitute a fundamental step towards an empirically based, nuanced understanding of the nature of platforms and the implications they hold for the evolution of industrial innovation. The book provides an overview of platforms and discusses governance, management, design and knowledge issues. With a multidisciplinary approach, this book will strongly appeal to academics and advanced students in management, innovation, strategy, economics and design. It will also prove an enlightening read for business managers in IT industries.
Book Synopsis Do Vertical Mergers Facilitate Upstream Collusion? by : Volker Nocke
Download or read book Do Vertical Mergers Facilitate Upstream Collusion? written by Volker Nocke and published by . This book was released on 2004 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Telecommunication Economics by : Antonis M. Hadjiantonis
Download or read book Telecommunication Economics written by Antonis M. Hadjiantonis and published by Springer. This book was released on 2012-04-27 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes a collaborative and selected documentation of the scientific outcome of the European COST Action IS0605 Econ@Tel "A Telecommunications Economics COST Network" which run from October 2007 to October 2011. Involving experts from around 20 European countries, the goal of Econ@Tel was to develop a strategic research and training network among key people and organizations in order to enhance Europe's competence in the field of telecommunications economics. Reflecting the organization of the COST Action IS0605 Econ@Tel in working groups the following four major research areas are addressed: - evolution and regulation of communication ecosystems; - social and policy implications of communication technologies; - economics and governance of future networks; - future networks management architectures and mechanisms.
Book Synopsis Digital markets and online platforms: new perspectives on regulation and competition law by : Jan Krämer
Download or read book Digital markets and online platforms: new perspectives on regulation and competition law written by Jan Krämer and published by Centre on Regulation in Europe (CERRE). This book was released on 2020-11-18 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Across the world, regulators and policy makers are grappling with how to establish a competitive, safe and fair online environment that also safeguards users’ fundamental rights as citizens. Ahead of the European Commission’s Digital Markets Act (DMA), this book “Digital markets and online platforms: new perspectives on regulation and competition law“, presents CERRE’s latest contribution to the debate with concrete policy recommendations. Together, the policy recommendations in this book present a roadmap that should be pursued for EU policy makers to safeguard competition and innovation in digital platform markets. They can be organised into three key areas for action: (i) More effective enforcement, (ii) increased transparency and switching easiness, and (iii) providing access to key innovation capabilities. “The need to safeguard fair and vibrant competition, which is also seen as an important driving factor for innovation, is nothing new for policy makers. However, the characteristics and complexities of digital markets have challenged some of the traditional approaches.” – Jan Krämer, editor of the book and CERRE Academic Co-Director The book’s recommendations highlight that platform transparency and associated data collection by authorities, as well as data sharing by platforms (initiated through consumers or authorities), are the two most important overarching policy measures for platform markets in the near future. They facilitate enforcement, consumer choice, and innovation capabilities in the digital economy. The contents of this book were presented and debated during a CERRE live debate with guest speakers Anne Yvrande-Billon (Arcep’s Director of Economic, Market and Digital Affairs), MEP Stéphanie Yon-Courtin (Vice-President of the European Parliament’s Committee on Economic and Monetary Affairs) and Javier Espinoza (Financial Times’ EU Correspondent covering competition and digital policy).
