Publicação
Mergers and capital flight in unionised oligopolies: Is there scope for a 'national champion' policy?
| Resumo: | Many policy makers seem to prefer domestic alternatives to cross-broder mergers. Can such sentiments make sense? We contruct a model where cross-border mergers drive down union-set wages, where domestic mergers have larger non-labour cost synergies than international ones, and where policy evaluators care more about workers than capital owners. Apparently, the stage is set for national champion policies to be sensible. However, we also introduce the possibility of capital flight in the sense that a domestic firm can physically move its production out of the country. Restrictive cross-border merger policies can then seriously backfire, since they do not necessarily bring about a domestic merger - but capital flight instead. |
|---|---|
| Autores principais: | Lommerud, Kjell Erik |
| Outros Autores: | Meland, Frode; Straume, Odd Rune |
| Assunto: | Cross-border merger National champions Greenfield FDI Trade unions |
| Ano: | 2008 |
| País: | Portugal |
| Tipo de documento: | working paper |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade do Minho |
| Idioma: | inglês |
| Origem: | RepositóriUM - Universidade do Minho |
| _version_ | 1867439559492501504 |
|---|---|
| author | Lommerud, Kjell Erik |
| author2 | Meland, Frode Straume, Odd Rune |
| author2_role | author author |
| author_facet | Lommerud, Kjell Erik Meland, Frode Straume, Odd Rune |
| author_role | author |
| contributor_name_str_mv | RepositóriUM - Universidade do Minho |
| country_str | PT |
| creators_json_txt | [{\"Person.name\":\"Lommerud, Kjell Erik\"},{\"Person.name\":\"Meland, Frode\"},{\"Person.name\":\"Straume, Odd Rune\"}] |
| datacite.contributors.contributor.contributorName.fl_str_mv | RepositóriUM - Universidade do Minho |
| datacite.creators.creator.creatorName.fl_str_mv | Lommerud, Kjell Erik Meland, Frode Straume, Odd Rune |
| datacite.date.Accepted.fl_str_mv | 2008-03-01T00:00:00Z |
| datacite.date.available.fl_str_mv | 2008-03-31T17:06:19Z |
| datacite.date.embargoed.fl_str_mv | 2008-03-31T17:06:19Z |
| datacite.rights.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| datacite.subjects.subject.fl_str_mv | Cross-border merger National champions Greenfield FDI Trade unions |
| datacite.titles.title.fl_str_mv | Mergers and capital flight in unionised oligopolies: Is there scope for a 'national champion' policy? |
| dc.contributor.none.fl_str_mv | RepositóriUM - Universidade do Minho |
| dc.creator.none.fl_str_mv | Lommerud, Kjell Erik Meland, Frode Straume, Odd Rune |
| dc.date.Accepted.fl_str_mv | 2008-03-01T00:00:00Z |
| dc.date.available.fl_str_mv | 2008-03-31T17:06:19Z |
| dc.date.embargoed.fl_str_mv | 2008-03-31T17:06:19Z |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | https://hdl.handle.net/1822/7758 |
| dc.language.none.fl_str_mv | eng |
| dc.publisher.none.fl_str_mv | Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE) |
| dc.rights.none.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| dc.subject.none.fl_str_mv | Cross-border merger National champions Greenfield FDI Trade unions |
| dc.title.fl_str_mv | Mergers and capital flight in unionised oligopolies: Is there scope for a 'national champion' policy? |
| dc.type.none.fl_str_mv | http://purl.org/coar/resource_type/c_8042 |
| description | Many policy makers seem to prefer domestic alternatives to cross-broder mergers. Can such sentiments make sense? We contruct a model where cross-border mergers drive down union-set wages, where domestic mergers have larger non-labour cost synergies than international ones, and where policy evaluators care more about workers than capital owners. Apparently, the stage is set for national champion policies to be sensible. However, we also introduce the possibility of capital flight in the sense that a domestic firm can physically move its production out of the country. Restrictive cross-border merger policies can then seriously backfire, since they do not necessarily bring about a domestic merger - but capital flight instead. |
| dirty | 0 |
| eu_rights_str_mv | openAccess |
| format | workingPaper |
| fulltext.url.fl_str_mv | https://repositorium.uminho.pt/bitstreams/316617d0-e978-495e-8bb0-35366b840e1e/download |
| id | rum_e0cdceaec0b470520c484fb77db237be |
| identifier.url.fl_str_mv | https://hdl.handle.net/1822/7758 |
| instacron_str | repositorium |
| institution | Universidade do Minho |
| instname_str | Universidade do Minho |
| language | eng |
| network_acronym_str | rum |
| network_name_str | RepositóriUM - Universidade do Minho |
| oai_identifier_str | oai:repositorium.uminho.pt:1822/7758 |
| organization_str_mv | urn:organizationAcronym:repositorium |
| person_str_mv | Lommerud, Kjell Erik Meland, Frode Straume, Odd Rune |
| publishDate | 2008 |
| publisher.none.fl_str_mv | Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE) |
| reponame_str | RepositóriUM - Universidade do Minho |
| repository_id_str | urn:repositoryAcronym:rum |
| service_str_mv | urn:repositoryAcronym:rum |
| spelling | engUniversidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)engMany policy makers seem to prefer domestic alternatives to cross-broder mergers. Can such sentiments make sense? We contruct a model where cross-border mergers drive down union-set wages, where domestic mergers have larger non-labour cost synergies than international ones, and where policy evaluators care more about workers than capital owners. Apparently, the stage is set for national champion policies to be sensible. However, we also introduce the possibility of capital flight in the sense that a domestic firm can physically move its production out of the country. Restrictive cross-border merger policies can then seriously backfire, since they do not necessarily bring about a domestic merger - but capital flight instead.application/pdfengMergers and capital flight in unionised oligopolies: Is there scope for a 'national champion' policy?Lommerud, Kjell ErikMeland, FrodeStraume, Odd RuneHostingInstitutionOrganizationalRepositóriUM - Universidade do Minhoe-mailmailto:repositorium@usdb.uminho.ptrepositorium@usdb.uminho.ptCITATIONNIPE Working Paper series; 102008-03-31T17:06:19Z2008-032008-03-01T00:00:00ZHandlehttps://hdl.handle.net/1822/7758http://purl.org/coar/access_right/c_abf2open accessCross-border mergerNational championsGreenfield FDITrade unions456656 bytesother research producthttp://purl.org/coar/resource_type/c_8042working paperhttp://purl.org/coar/access_right/c_abf2application/pdffulltexthttps://repositorium.uminho.pt/bitstreams/316617d0-e978-495e-8bb0-35366b840e1e/download |
| spellingShingle | Mergers and capital flight in unionised oligopolies: Is there scope for a 'national champion' policy? Lommerud, Kjell Erik Cross-border merger National champions Greenfield FDI Trade unions |
| status | SINGLETON |
| subject.fl_str_mv | Cross-border merger National champions Greenfield FDI Trade unions |
| title | Mergers and capital flight in unionised oligopolies: Is there scope for a 'national champion' policy? |
| title_full | Mergers and capital flight in unionised oligopolies: Is there scope for a 'national champion' policy? |
| title_fullStr | Mergers and capital flight in unionised oligopolies: Is there scope for a 'national champion' policy? |
| title_full_unstemmed | Mergers and capital flight in unionised oligopolies: Is there scope for a 'national champion' policy? |
| title_short | Mergers and capital flight in unionised oligopolies: Is there scope for a 'national champion' policy? |
| title_sort | Mergers and capital flight in unionised oligopolies: Is there scope for a 'national champion' policy? |
| topic | Cross-border merger National champions Greenfield FDI Trade unions |
| topic_facet | Cross-border merger National champions Greenfield FDI Trade unions |
| url | https://hdl.handle.net/1822/7758 |
| visible | 1 |