Fusions endogènes : une revue de la littérature

Laurent Granier (1)

1 GATE Lyon Saint-Étienne - Groupe d'Analyse et de Théorie Economique Lyon - Saint-Etienne

This paper analyzes the literature concerning models of endogenous mergers. Traditional models of exogenous mergers analyze mergers as isolated phenomena. However, some empirical facts about M&A don't seem to be explained in this literature. Models of endogenous mergers take into account all interactions created by merger decisions in an industry. By this way, they can give more reliable predictions. In order to better understand the literature, we describe it in two points. First, we investigate models caracteristics. Second, we present the main predictions obtained in the literature.

Mots clés: endogenous mergers; game theory; literature

Domaines: Economies et finances

Laurent Granier. Fusions endogènes : une revue de la littérature. 2010. ⟨halshs-00537413⟩