Publicação

Mergers and capital flight in unionised oligopolies: Is there scope for a 'national champion' policy?

Ver documento

Detalhes bibliográficos
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

Registos relacionados

Registos relacionados