Are alleged efficiency gains in airline mergers for real? A research on the productivity of the Brazilian airline industry
Autor(a) principal: | |
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Data de Publicação: | 2023 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Economia Ensaios |
Texto Completo: | https://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/66123 |
Resumo: | Aware of the potential concentration effects of Merger and Acquisitions operations in the market, Airlines advocate efficiency gains to justify these business combinations. Most of the literature in this area focus on mature, well-developed markets, but on the last decade two significant operations were witnessed in the Brazilian market. The methodology used in this study is comprised by a qualitative analysis complimented by an efficiency calculation, regarding the input-output relationship, using Total Factor Productivity calculations. Results show that efficiency gains on Azul-Trip merger were focused on overhead and administrative expenses and that the acquisition of Webjet by Gol provided no efficiency gains. |
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Are alleged efficiency gains in airline mergers for real? A research on the productivity of the Brazilian airline industryHá ganhos de eficiência em fusões de companhias aéreas? Uma análise na produtividade da indústria de transporte aéreo brasileiraProdutividade na indústria de transporte aéreoprodutividade total dos fatoresfusões e aquisições na indústria de transporte aéreoProductivity in the airline industryTotal factor productivityMergers and acquisitions in the airline industryAware of the potential concentration effects of Merger and Acquisitions operations in the market, Airlines advocate efficiency gains to justify these business combinations. Most of the literature in this area focus on mature, well-developed markets, but on the last decade two significant operations were witnessed in the Brazilian market. The methodology used in this study is comprised by a qualitative analysis complimented by an efficiency calculation, regarding the input-output relationship, using Total Factor Productivity calculations. Results show that efficiency gains on Azul-Trip merger were focused on overhead and administrative expenses and that the acquisition of Webjet by Gol provided no efficiency gains.Cientes dos potenciais efeitos de concentração em operações de fusões e aquisições, companhias aéreas advogam ganhos de eficiência para defender este tipo de combinação de negócio. Na última década, o mercado brasileiro de transporte aéreo testemunhou duas grandes operações desta natureza, oferecendo uma oportunidade para expandir a literatura nesta área do conhecimento, fortemente concentrada no estudo de mercados já maduros. Empregando o cálculo de Produtividade Total dos Fatores e análise qualitativa este trabalho revela que a fusão entre Azul e Trip trouxe ganhos restritos de produtividade e que a aquisição da Webjet pela Gol não ofereceu ganhos de produtividade.EDUFU2023-09-21info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/6612310.14393/REE-v38n2a2023-66123Revista Economia Ensaios; Vol. 38 No. 2 (2023)Revista Economia Ensaios; v. 38 n. 2 (2023)1983-19940102-2482reponame:Economia Ensaiosinstname:Universidade Federal de Uberlândia (UFU)instacron:UFUporhttps://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/66123/36846Copyright (c) 2023 Revista Economia Ensaiosinfo:eu-repo/semantics/openAccessCosta, Francisco Augustode A. Gomes, Rogéria2024-02-07T19:44:12Zoai:ojs.www.seer.ufu.br:article/66123Revistahttps://seer.ufu.br/index.php/revistaeconomiaensaiosPUBhttps://seer.ufu.br/index.php/revistaeconomiaensaios/oai||ecoensaios@ufu.br|| ecoensaios@ufu.br1983-19940102-2482opendoar:2024-02-07T19:44:12Economia Ensaios - Universidade Federal de Uberlândia (UFU)false |
dc.title.none.fl_str_mv |
Are alleged efficiency gains in airline mergers for real? A research on the productivity of the Brazilian airline industry Há ganhos de eficiência em fusões de companhias aéreas? Uma análise na produtividade da indústria de transporte aéreo brasileira |
title |
Are alleged efficiency gains in airline mergers for real? A research on the productivity of the Brazilian airline industry |
spellingShingle |
Are alleged efficiency gains in airline mergers for real? A research on the productivity of the Brazilian airline industry Costa, Francisco Augusto Produtividade na indústria de transporte aéreo produtividade total dos fatores fusões e aquisições na indústria de transporte aéreo Productivity in the airline industry Total factor productivity Mergers and acquisitions in the airline industry |
title_short |
Are alleged efficiency gains in airline mergers for real? A research on the productivity of the Brazilian airline industry |
title_full |
Are alleged efficiency gains in airline mergers for real? A research on the productivity of the Brazilian airline industry |
title_fullStr |
Are alleged efficiency gains in airline mergers for real? A research on the productivity of the Brazilian airline industry |
title_full_unstemmed |
Are alleged efficiency gains in airline mergers for real? A research on the productivity of the Brazilian airline industry |
title_sort |
Are alleged efficiency gains in airline mergers for real? A research on the productivity of the Brazilian airline industry |
author |
Costa, Francisco Augusto |
author_facet |
Costa, Francisco Augusto de A. Gomes, Rogéria |
author_role |
author |
author2 |
de A. Gomes, Rogéria |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Costa, Francisco Augusto de A. Gomes, Rogéria |
dc.subject.por.fl_str_mv |
Produtividade na indústria de transporte aéreo produtividade total dos fatores fusões e aquisições na indústria de transporte aéreo Productivity in the airline industry Total factor productivity Mergers and acquisitions in the airline industry |
topic |
Produtividade na indústria de transporte aéreo produtividade total dos fatores fusões e aquisições na indústria de transporte aéreo Productivity in the airline industry Total factor productivity Mergers and acquisitions in the airline industry |
description |
Aware of the potential concentration effects of Merger and Acquisitions operations in the market, Airlines advocate efficiency gains to justify these business combinations. Most of the literature in this area focus on mature, well-developed markets, but on the last decade two significant operations were witnessed in the Brazilian market. The methodology used in this study is comprised by a qualitative analysis complimented by an efficiency calculation, regarding the input-output relationship, using Total Factor Productivity calculations. Results show that efficiency gains on Azul-Trip merger were focused on overhead and administrative expenses and that the acquisition of Webjet by Gol provided no efficiency gains. |
publishDate |
2023 |
dc.date.none.fl_str_mv |
2023-09-21 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/66123 10.14393/REE-v38n2a2023-66123 |
url |
https://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/66123 |
identifier_str_mv |
10.14393/REE-v38n2a2023-66123 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/66123/36846 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2023 Revista Economia Ensaios info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2023 Revista Economia Ensaios |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
EDUFU |
publisher.none.fl_str_mv |
EDUFU |
dc.source.none.fl_str_mv |
Revista Economia Ensaios; Vol. 38 No. 2 (2023) Revista Economia Ensaios; v. 38 n. 2 (2023) 1983-1994 0102-2482 reponame:Economia Ensaios instname:Universidade Federal de Uberlândia (UFU) instacron:UFU |
instname_str |
Universidade Federal de Uberlândia (UFU) |
instacron_str |
UFU |
institution |
UFU |
reponame_str |
Economia Ensaios |
collection |
Economia Ensaios |
repository.name.fl_str_mv |
Economia Ensaios - Universidade Federal de Uberlândia (UFU) |
repository.mail.fl_str_mv |
||ecoensaios@ufu.br|| ecoensaios@ufu.br |
_version_ |
1799944249950601216 |