Industry costs and consolidation : efficiency gains and mergers in the railroad industry

Wilson, Wesley W.; Bitzan, John

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Industry costs and consolidation : efficiency gains and mergers in the railroad industry

2003-06-01
By Wilson, Wesley W. ; Bitzan, John

[PDF-265.08 KB]

English

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Creators:

Wilson, Wesley W. ; Bitzan, John

Wilson, Wesley W. ; Bitzan, John Less -
Corporate Contributors:

Upper Great Plains Transportation Institute
Subject/TRT Terms:

[+]

Consolidations Costs Deregulation Economic Impacts Mergers Railroads Savings
Resource Type:

Research Paper
TRIS Online Accession Number:

960460
Corporate Publisher:

Upper Great Plains Transportation Institute
NTL Classification:

NTL-RAIL TRANSPORTATION-Rail Economics and Finance;AGR-FREIGHT-Railroads;NTL-ECONOMICS AND FINANCE-ECONOMICS AND FINANCE;NTL-ECONOMICS AND FINANCE-Economic Impacts;NTL-ECONOMICS AND FINANCE-Freight Economics and Finance;NTL-ECONOMICS AND FINANCE-Rail Economics and Finance;NTL-FREIGHT-Freight Economics and Finance;NTL-FREIGHT-FREIGHT;
Abstract:

Partial deregulation of the railroad industry substantially eased regulatory impediments to consolidation. Since partial deregulation, there has been a massive consolidation of firms in the railroad industry, which has been premised on efficiency gains, network rationalization, and service quality. In this paper, we focus on efficiency gains. We develop and estimate a model of costs that allows for the estimation of merger specific cost savings as well as industry cost savings. The results suggest that early mergers gave very small effects, but recent "mega" mergers have given very large effects. Our central result is that consolidation in the railroad industry from 1983-1997 accounts for about a 17 percent reduction in industry costs.
Format:

PDF
Collection(s):

University Transportation Centers US Transportation Collection
Main Document Checksum:

[+]

urn:sha256:9d676418ddd8ec7ca6e7c0b777257305fb1ec07fbfafbaced1d983116fc8a202
Download URL:

https://rosap.ntl.bts.gov/view/dot/15938/dot_15938_DS1.pdf
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Industry costs and consolidation : efficiency gains and mergers in the railroad industry

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