Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2020.1862685
Research on the impact of merger on capacity and social welfare in different market environments
Aiyuan Tao
Ce Shi
orcid.org/0000-0002-6758-4114
Fengling Zou
Sažetak
Based on the current context of DE-Capacity in China, this article
explores the impact of the merger of public and private firms on
capacity and social welfare, with the aim of giving theoretical support to the current practice of mergers and acquisitions in China.
With a mixed oligopoly model and Cournot-Nash equilibrium, we
conclude that the merger of firms can achieve the goal of DECapacity in the market environment dominated by public firms,
and that at the same time the social welfare will increase. We
also find that if the modest privatisation is considered in the merger then the ultimate social welfare can also obtain further
growth with DE-Capacity. In particular, according to the goal of
welfare maximisation under different efficiency, we give the optimal privatisation ratio for the merger of public and private firms.
However, in the market environment dominated by private firms,
the merger of public and private firms cannot achieve the result
of increasing social welfare along with DE-Capacity.
Ključne riječi
DE-capacity; mixed oligopoly; privatisation; social welfare
Hrčak ID:
301354
URI
Datum izdavanja:
31.12.2021.
Posjeta: 148 *