Economic Analysis of Horizontal Mergers in an International Oligopolisitic Market

我们分析了国内和国际寡头垄断市场的横向合并。首先，我们对国内同国企业之间的并购进行了分析，这成为对跨国企业之间的并购进行理论分析的基础。在对国内并购的分析中，我们从社会福利的角度出发，从资本生产率的角度出发，重点研究了各企业内部工资谈判对均衡所有制结构和最优所有制结构之间关系的影响。在对国际并购的分析中，我们试图阐明均衡市场结构与各国社会福利和/或总社会福利方面的最优结构之间的关系，当所有现有公司都可以在国际寡头垄断中自由地相互合并时。

We analyzed horizontal mergers in domestic and international oligopolistic markets. First, we conducted the analysis on domestic mergers among firms which are located in the same countries, which becomes the basis on the theoretical analysis of international mergers among firms which are located in different countries. In the analysis of the domestic mergers, we focused on the influences of wage bargaining within each firm on the relationship between an equilibrium ownership structure and the most preferred ownership structure from the viewpoint of social welfare in a unionized oligopoly of asymmetric firms with respect to productivity of capital. In the analysis of international mergers, we attempted to clarify the relationship between the market structure in equilibrium and the most preferred structure with respect to each country's social welfare and/or total social welfare, when all existing firms can freely merge with each other in an international oligopoly.