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- Publisher
- Inderscience Publishers
- Copyright
- Copyright © Inderscience Enterprises Ltd. All rights reserved
- ISSN
- 1756-7017
- eISSN
- 1756-7025
- DOI
- 10.1504/IJIDS.2014.064445
- Publisher site
- See Article on Publisher Site
Abstract
In this paper, we analyse the mergers and acquisitions motivated by economies of scale and risk diversification via real option approach. The model shows that the bidder and the target firm simultaneously exercise their own exchange options when the ratio of two product prices reaches either the lower threshold from below or the higher threshold from above, and the shares of two firms in the post-merger firm are determined endogenously.
Journal
International Journal of Information and Decision Sciences – Inderscience Publishers
Published: Jan 1, 2014