Does Foreign Direct Investment Induce Domestic Mergers?

被引:0
作者
Katja Zajc Kejžar
机构
[1] University of Ljubljana,Faculty of Economics
来源
Open Economies Review | 2011年 / 22卷
关键词
Investment liberalization; Industry consolidation; Foreign direct investment; Domestic mergers; Antitrust authority; Market structure; L11; L41; F23;
D O I
暂无
中图分类号
学科分类号
摘要
This paper examines the impact of foreign firm entry on the industry consolidation process in a host country that operates through mergers and exits of incumbent firms. Using a three-stage oligopolistic model, the paper shows that foreign direct investment (FDI) may trigger consolidation via a merger since the approval of a domestic merger by the antitrust authority is more likely in the case a foreign firm enters via FDI and a firm’s incentive for a domestic merger is greater and that, in turn, the possibility to merge and become more efficient modifies the outcome of the game by making FDI compared to exports less likely.
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页码:271 / 291
页数:20
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