Limit qualities and entry deterrence

Article Abstract:

Competition among incumbent firms can affect the entry of other players into an industry. Asymmetries between pioneers and late industry entrants may exist due to sunk costs and advantages in information and other costs. Analysis reveals that competition among pioneering firms can become a barrier to late entrants when incumbents choose to provide less differentiated products. This results not only in increased competition amongst themselves, but also in a stronger collective stance against future entrants.

Barriers to entry (Industrial organization), Barriers to entry

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Are mega-mergers anticompetitive? Evidence from the first great merger wave

Article Abstract:

Application of event study methodology to evaluate the industrial consolidation trend of 1897-1903 showed benefits for the merging companies with 12-18% value added. Although competitors exhibited expected losses due to the mergers, the losses were not defined by traditional monopoly conditions. This result indicates a greater thrust on improved efficiency rather than monopoly gains for the merging companies.

Diversified Companies, Conglomerate corporations, Acquisitions and mergers

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The effects of competition on executive behavior

Article Abstract:

A study was done to evaluate the presumption that firms reduce agency problems to be more efficient in competitive markets. The study shows that executive behavior is conditioned by income effects, risk-adjustment effects, change-in-information-effects and change-in-the-relative-value-of-actions effects. The study also provides conditions when increased competition reduces agency problems.

Beliefs, opinions and attitudes, Executives

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