Mergers, strategic investments and antit
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Daniel Deneffe; Peter Wakker
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Article
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1996
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John Wiley and Sons
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English
โ 894 KB
Established firms can diversify into new markets in two distinct modes: through internal development or through conglomerate merger. Building on a dynamic three-stage bargaining model with variable threats, this paper shows that a lenient antitrust position toward horizontal mergers can induce estab