Static or dynamic efficiency: Horizontal merger effects in the wireless telecommunications industry

Arbeitspapier

This paper studies five mergers in the European wireless telecommunication industry and analyzes their impact on prices and capital expenditures of both merging carriers and their rivals. We find substantial heterogeneity in the relationship between increases in concentration and carriers' prices. The specifics of each merger case clearly matter. Moreover, we find a positive correlation between the price and the investment effects; when the prices after merger increase (decrease), the investments increase (decrease) too. Thus, we document a trade-off between static and dynamic efficiencies of mergers.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: ESMT Working Paper ; No. 17-04

Klassifikation und Themen

• Klassifikation: Management ; Firm Organization and Market Structure ; Technological Change: Choices and Consequences; Diffusion Processes ; Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance ; Telecommunications
• Thema: telecom mergers ; static and dynamic efficiency ; difference-in-difference

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Grajek, Michał ; Gugler, Klaus ; Kretschmer, Tobias ; Miscisin, Ion
• Ereignis: Veröffentlichung
• (wer): European School of Management and Technology (ESMT)
• (wo): Berlin
• (wann): 2017

Weitere Informationen

• Handle: http://hdl.handle.net/10419/174875
• URN: urn:nbn:de:101:1-20180205380
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ