Arbeitspapier
In hunt for size: Merger formation in the oil industry
This paper analyzes the recent mergers in the oil industry. Oil is assumed to be a homogeneous good which is produced by a small number of firms with different unit costs. Merger formation is endogenously explained as a result of cooperative decisions. We show that the mergers are amongst very asymmetric firms if initial size differences are moderate. If size differences are large, however, the more efficient firms participate in the mergers, while the least efficient firms are not attractive partners and, therefore, remain independent in the post-merger market.
- Language
-
Englisch
- Bibliographic citation
-
Series: Tübinger Diskussionsbeiträge ; No. 258
- Classification
-
Wirtschaft
Cooperative Games
Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
Mining, Extraction, and Refining: Hydrocarbon Fuels
- Subject
-
Asymmetric horizontal mergers
Coalition formation
Oil industry
- Event
-
Geistige Schöpfung
- (who)
-
Neubecker, Leslie
Stadler, Manfred
- Event
-
Veröffentlichung
- (who)
-
Eberhard Karls Universität Tübingen, Wirtschaftswissenschaftliche Fakultät
- (where)
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Tübingen
- (when)
-
2003
- Handle
- URN
-
urn:nbn:de:bsz:21-opus-18732
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Neubecker, Leslie
- Stadler, Manfred
- Eberhard Karls Universität Tübingen, Wirtschaftswissenschaftliche Fakultät
Time of origin
- 2003
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