Full Description
This book presents an integrated theory of firms' strategies and two types of policies, namely environmental policies, and merger control policies. It develops a framework to examine the intricate relationship between merger and acquisition (M&A) incentives, merger control policy, environmental policies, and firms' sustainability practices. The chapters highlight the importance of policy coordination to underscore the link between M&A and environmental externality, and the link between merger policy and environmental policy. Drawing together related fields that are seldom linked in the literature, this volume offers a comprehensive and authoritative reference for scholars, graduate students, and policymakers.
Contents
Part I Merger Incentives in Pollution Intensive Industries.- Merger Incentives and the Natural Environment.- Mergers in Cournot Markets with Environmental Externality and Product Differentiation.- The Impact of Foreign Emission Tax on Domestic Merger Profitability.- Electric Utility Mergers in the Presence of Distributed Renewable Energy.- An Empirical Investigation of the Impact of Environmental Policy on M&A Activities.- Part II Welfare Implication of Mergers.- Welfare Impact of New Firm Acquisition.- Merger Induced Welfare Gains in the Presence of Environmental Externality and Product Differentiation.- Are Big Mergers Welfare Enhancing when there is Environmental Externality.- Part III Environmental Policy in the Presence of Mergers.- Merger Control and Environmental Policy.- Environmental Taxation and Mergers in Oligopoly Markets with Product Differentiation.- Cross-Country Emission Tax Effect of Mergers.- The Design of Emission Taxes in Markets with New Firm Acquisitions.- An Analytical Approach for Policy Coordination.
