Should competition authorities care about conglomerate mergers?

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dc.contributor.authorPAULO FURQUIM DE AZEVEDO
dc.contributor.authorGarcia, Carolina Policarpo
dc.coverage.paisEstados Unidospt_BR
dc.creatorGarcia, Carolina Policarpo
dc.date.accessioned2022-08-23T00:31:50Z
dc.date.available2022-08-23T00:31:50Z
dc.date.issued2019
dc.description.notesTexto completopt_BR
dc.description.otherMergers and acquisitions may change competition even when they do not affect market structure, a case known as con glomerate mergers. In this paper, we explore a wave of acqui sitions of higher education institutions by educational groups in Brazil, which allows us to disentangle the effects of con glomerate mergers and of horizontal mergers on price, quan tity, and quality indicators. Our findings show that multiunit organizations are able to increase some quality indicators. As for the effect on price and quantity, results are different. For conglomerate mergers, we estimated an increase in the num ber of freshmen and tuition fees, whereas for acquisitions that lead to horizontal concentration there is no increase in quan tity, just in prices. Also these effects are larger the smaller the market share of the acquired HEI. On the whole, our findings are consistent with the hypothesis that multiunit operations increase efficiency, but only conglomerate mergers tend to pass those gains on to consumers. Results also indicate that greater caution should be taken in market extension mergers when the acquired firm has a clear dominant position.pt_BR
dc.format.extentp. 78-118pt_BR
dc.format.mediumDigitalpt_BR
dc.identifier.doihttps://doi.org/10.1016/j.ijindorg.2019.06.001pt_BR
dc.identifier.issn1677187pt_BR
dc.identifier.urihttps://repositorio.insper.edu.br/handle/11224/4082
dc.identifier.volume66pt_BR
dc.language.isoInglêspt_BR
dc.publisherElsevierpt_BR
dc.relation.ispartofInternational Journal of Industrial Organizationpt_BR
dc.rights.licenseO INSPER E ESTE REPOSITÓRIO NÃO DETÊM OS DIREITOS DE USO E REPRODUÇÃO DOS CONTEÚDOS AQUI REGISTRADOS. É RESPONSABILIDADE DOS USUÁRIOS INDIVIDUAIS VERIFICAR OS USOS PERMITIDOS NA FONTE ORIGINAL, RESPEITANDO-SE OS DIREITOS DE AUTOR OU EDITORpt_BR
dc.subject.keywordsMergers and acquisitionspt_BR
dc.subject.keywordsconglomerate mergerspt_BR
dc.subject.keywordsmultiunit firmspt_BR
dc.subject.keywordshigher educationpt_BR
dc.titleShould competition authorities care about conglomerate mergers?pt_BR
dc.typejournal article
dspace.entity.typePublication
local.subject.cnpqCiências Sociais Aplicadaspt_BR
local.typeArtigo Científicopt_BR
relation.isAuthorOfPublication25ce9242-4c33-4eb0-8fd6-db1b8dc52452
relation.isAuthorOfPublication.latestForDiscovery25ce9242-4c33-4eb0-8fd6-db1b8dc52452
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