Law and Economics on M&A and Strategic Alliance
| Project/Area Number |
18530210
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Economic policy
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| Research Institution | Kobe City University of Foreign Studies |
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Principal Investigator |
TANAKA Satoru Kobe City University of Foreign Studies, 外国語学部, Professor (20207096)
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| Co-Investigator(Kenkyū-buntansha) |
HAYASHI Syuya Nogoya university, Graduate School of Law, Associate Professor (30364037)
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| Project Period (FY) |
2006 – 2007
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| Project Status |
Completed (Fiscal Year 2007)
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| Budget Amount *help |
¥1,910,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥210,000)
Fiscal Year 2007: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2006: ¥1,000,000 (Direct Cost: ¥1,000,000)
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| Keywords | M&A / Strategic Alliance / Buyer Power / Antitrust Law / Waterbed Effect / 戦略的提携 / 優越的地位の濫用 / M＆A / 拮抗力 |
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| Research Abstract |
The purpose of this research is to clarify the incentives of M&A and strategic alliance among the firms, and to analyze the welfare implication of these behaviors in the viewpoint of law and economics. The analysis focused to the vertical relationship between the firms shows that the incentive of M&A and strategic alliance is strongly affected by the buyer power and the competitive conditions of upstream and downstream industries. Therefore, we concentrated the retail industry and the ICT industries in which the vertical relationship played the important role to M&A and strategic alliance.
In the ICT industries, it is shown that the regulation on the platform may have the critical welfare implication on the performance of the industries by the legal analysis. On the other hand, in the retail industry, M&A and the strategic alliance are undertaken over the relatively independent regional market. Considering this characteristics, the decrease in the input price which is attained by the buyer power of the consolidated firm causes the increase in the input price of the independent retailers (This effect is called by the "waterbed effect"). As the existence of this effect means that there are the negative externalities of buyer power of the consolidated firm, the administration of competition policy on the regulation of M&A and strategic alliance have to take into account of this effect.
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Report
(3 results)
Research Products
(14 results)
