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Competition and cascades in the financial markets: an agent-based model of endogenous mergers

Competition and cascades in the financial markets: an agent-based model of endogenous mergers
Competition and cascades in the financial markets: an agent-based model of endogenous mergers
We present an agent-based model of endogenous merger formation in a market with turnover of market participants. We describe the dynamics of the model and identify the conditions under which market competition is sufficiently disrupted to prompt extended periods during which mergers are desirable. We also demonstrate how merger waves can be triggered by industry shocks and firm overconfidence.
1055-615X
39-51
Zedan, Camillia
eb32da6f-af4d-46e2-aa36-beec120044da
Ianni, Antonella
35024f65-34cd-4e20-9b2a-554600d739f3
Bullock, Seth
2ad576e4-56b8-4f31-84e0-51bd0b7a1cd3
Zedan, Camillia
eb32da6f-af4d-46e2-aa36-beec120044da
Ianni, Antonella
35024f65-34cd-4e20-9b2a-554600d739f3
Bullock, Seth
2ad576e4-56b8-4f31-84e0-51bd0b7a1cd3

Zedan, Camillia, Ianni, Antonella and Bullock, Seth (2013) Competition and cascades in the financial markets: an agent-based model of endogenous mergers. Intelligent Systems in Accounting, Finance and Management, 20 (1), 39-51.

Record type: Article

Abstract

We present an agent-based model of endogenous merger formation in a market with turnover of market participants. We describe the dynamics of the model and identify the conditions under which market competition is sufficiently disrupted to prompt extended periods during which mergers are desirable. We also demonstrate how merger waves can be triggered by industry shocks and firm overconfidence.

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More information

Published date: 2013
Organisations: Agents, Interactions & Complexity
Learn more about Agents, Interactions & Complexity research

Identifiers

Local EPrints ID: 339768
URI: http://eprints.soton.ac.uk/id/eprint/339768
ISSN: 1055-615X
PURE UUID: 4f58453d-e886-4dd4-aace-74a380da4795
ORCID for Antonella Ianni: ORCID iD orcid.org/0000-0002-5003-4482

Catalogue record

Date deposited: 30 May 2012 10:37
Last modified: 15 Mar 2024 02:51

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Contributors

Author: Camillia Zedan
Author: Antonella Ianni ORCID iD
Author: Seth Bullock

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