Department   Undergraduate School  , School of Commerce
   Position   Professor
Language Japanese
Publication Date 2016/09
Type Academic Journal
Peer Review Peer reviewed
Invitation Invited paper
Title Sequential Mergers under General Symmetric Product Differentiation with Four Firms, Asia-Pacific Journal of Accounting & Economics, (Special Issue)
Contribution Type Co-authored (first author)
Journal Asia-Pacific Journal of Accounting & Economics
Journal TypeAnother Country
Publisher Taylor & Francis
Volume, Issue, Page 23(3),pp.306-326
Author and coauthor Takeshi Ebina and Daisuke Shimizu
Details This paper studies the types of sequential mergers that emerge and how they emerge when goods produced by firms in an industry are differentiated. In particular, we employ the most general differentiation setting with four firms by introducing a new parameter describing the highest degree of differentiation. We analyze how the degree of product differentiation affects the emergence of sequential mergers and find that when the value of this new parameter decreases, sequential mergers are more likely to emerge. Furthermore, we also provide welfare and numerical analyses to discuss the product differentiation ranges that would or would not lead to sequential mergers or no mergers in equilibrium. Consequently, policymakers can use this new parameter as a rule-of-thumb parameter in predicting the future merger structure.
URL for researchmap https://researchmap.jp/ebinatakeshi2010/