The Federal Trade Commission Staff Economic Report On Corporate Mergers
The Federal Trade Commission Staff Economic Report On Corporate Mergers
Paul W Macavoy
The book The Federal Trade Commission Staff Economic Report On Corporate Mergers was written by author Paul W Macavoy Here you can read free online of The Federal Trade Commission Staff Economic Report On Corporate Mergers book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is The Federal Trade Commission Staff Economic Report On Corporate Mergers a good or bad book?
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The arithmetic here is somewhat arbitrary — the acquired firm is assumed to grow at the all- industry rate of growth after acquisition, but that later grn«jth is credited to assets accumulated or received during the merger. Given that the most vigorous growers were the most active acquirers, and some of the purchased firms v/ere in inactive industries, then part of the growth of acquired assets after merger must be due to the policies of and affiliation with the acquiring firm. This part of gro...wth — from the acquiring firm's internal efficiency ~ is not accounted for here. It is not possible to say more than that the largest 200 firms exhibited an active merger policy, xjhich contributed to their growth. Of more interest is the type of firms these companies purchased. The purchased firms were leading firms in highly concentrated five digit industries in many cases: 190 companies purchased before 1968 held 88 "leading firm positions" in five digit industries with concen- tration ratios greater than 60 per cent [2A0].
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