Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/174875
Authors: 
Grajek, Michał
Gugler, Klaus
Kretschmer, Tobias
Miscisin, Ion
Year of Publication: 
2017
Series/Report no.: 
ESMT Working Paper 17-04
Abstract: 
This paper studies five mergers in the European wireless telecommunication industry and analyzes their impact on prices and capital expenditures of both merging carriers and their rivals. We find substantial heterogeneity in the relationship between increases in concentration and carriers' prices. The specifics of each merger case clearly matter. Moreover, we find a positive correlation between the price and the investment effects; when the prices after merger increase (decrease), the investments increase (decrease) too. Thus, we document a trade-off between static and dynamic efficiencies of mergers.
Subjects: 
telecom mergers
static and dynamic efficiency
difference-in-difference
JEL: 
L22
O33
G34
L96
Persistent Identifier of the first edition: 
Document Type: 
Working Paper
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