The concentration of offshore drilling rig markets

Autor:	Jaewon Lee, Christopher J. Jablonowski, Amanda Onwuka
Rok vydání:	2012
Předmět:	Factor market Market depth Mechanical Engineering Market analysis Market saturation Market share analysis Ocean Engineering Business Market microstructure Market concentration Domestic market Industrial organization
Zdroj:	Ships and Offshore Structures. 9:119-124
ISSN:	1754-212X 1744-5302
DOI:	10.1080/17445302.2012.741808
Popis:	This paper investigates the impact of market concentration on prices in the Atlantic offshore drilling rig market from 1990 to 2005. The purpose is to test whether merger and acquisition activity has increased prices, and to provide some perspective on the geographic definition of the market. The jack-up and semi-submersible markets are investigated separately. The results of this research provides strong evidence to support the conclusion that increased market concentration has resulted in increased prices. The results also suggest that the market concentration of the Atlantic market is the relevant measure of market concentration rather than the market concentrations of the regional sub-markets. The results provide insight into the industrial organisation of an important exploration and production input market and can be used by anti-trust regulators to make judgements about market competitiveness and to make decisions regarding the social desirability of prospective mergers and acquisitions.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::69bba71b1a6a034d9e5f044b531d1922 https://doi.org/10.1080/17445302.2012.741808 Zobrazit plný text záznamu