Author: Woosik ChuPublisher:
ISBN:
Category : Prices
Languages : en
Pages : 320
Book Description
Three Essays on the Strategic Behavior of Firms
Author: Woosik ChuThree Essays on the Strategic Behavior of Partially-regulated Firms
Author: Leslie Margaret SchenkPublisher:
ISBN:
Category : Business enterprises
Languages : en
Pages : 278
Book Description
Three Essays on the Strategic Behaviour of Partially-Regulated Firms
Author: L M. SchenkThree Essays on Firm Strategy and Public Policy
Author: Byung-Cheol KimPublisher:
ISBN:
Category : Consumer protection
Languages : en
Pages : 250
Book Description
Essays on Strategic Behavior of Firms with Market Power
Author: Artak MeloyanPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
This dissertation consists of two chapters that try to examine the structural behaviour of firms with market power in two contexts: implicit collusion and merger. In the first chapter, we examine the implicit collusion in the U.S. corn seed market where several firms dominate the market and try to grasp consumer welfare. In these types of markets, firms can implicitly divide the market among each other and in each of these submarkets gain market power by offering different products than their competitors. Thus, the implicit collusion can potentially increase their market power. We show the difference in SPNE of implicit collusion between duopoly and oligopoly and examine whether or not there is evidence of implicit collusion in setting prices or product lines in the case of oligopoly. Results indicate that there is significant collusion in not only price setting stage, but also in product line choosing stage. The second chapter evaluates the impact of mergers on market prices through two different channels: efficiency gain vs. market concentration. We develop a theoretical model for firm's merger behavior, derive the equilibrium market prices both before and after the merger and decompose the total price change into two components: those due to the efficiency gain and those due to the market concentration. Then we apply the model to the case of a merger in mayonnaise market in 2015 to conduct empirical analyses using price-quantity data in the U.S. mayo market from 2013 to 2017. Results show a negative relationship between efficiency gain and market prices and positive relationship between market concentration and market prices. However, the efficiency gain effect outweighs the market concentration effect in the mayonnaise industry which leads to price decrease as a result of the merger.
Three Essays on Strategic Capital Allocation
Author: Carl Henry ViereggerPublisher:
ISBN:
Category : Electronic dissertations
Languages : en
Pages : 126
Book Description
Internal capital allocation is both economically important ($640 billion in the U.S. annually) and critical to firm strategy. Yet since Bower's 1986 book, the topic has been largely ignored in the strategy literature. My dissertation comprises three essays that begin to fill this gap by examining the strategic implications of resource allocation behavior and outcomes. The first essay, Do Firms Really Allocate Capital So Inefficiently?, tackles the prevailing conclusion that the bulk of capital allocation is inefficient. I define an alternative (strategic) definition of efficiency and demonstrate not only that managers are more than twice as efficient as prior literature suggests, but also that strategic capital allocation affects firm value. The second essay, Chasing their Tails: Why Do Firms Subsidize Underperforming Segments?, examines why multidivisional firms delay the exit decision by cross-subsidizing their underperforming business units. I conclude first that these cross-subsidizing investments appear to be motivated by anticipated synergies between the units. However, I also demonstrate these synergies are illusive because they don't enhance market value. The third essay, Corporate Investment and Managerial Foresight, investigates the ability of some firms to make unique investment decisions that enhance future value. I find that managerial characteristics, in particular a tendency to be overconfident, is associated with managerial foresight.
Three Essays on the Strategic Effects of Debt on Firms' R&D Decisions
Author: Sungcheon KangGrowth of Firms Under Uncertainty
Author: Ashoka ModyPublisher:
ISBN:
Category : Corporations
Languages : en
Pages : 314
Book Description
Three Essays on Firm Learning
Author: William MartÃn TracyPublisher:
ISBN:
Category : Economics, Mathematical
Languages : en
Pages : 320
Book Description
Author: Alexei Boulatov