The Impact of Mergers on Quality Provision: Evidence from the Airline Industry
研究了美国五起航空公司并购对航班准点率的影响，发现并购对服务质量负面影响很小，长期可能因效率提升而改善，政策制定者不必过度担忧并购降低质量。
We examine how mergers affect quality provision by analyzing five U.S. airline mergers, focusing on on‐time performance (OTP). We find that airline mergers have minimal negative impacts on OTP, and likely result in long‐run improvements due to efficiencies. Importantly, we show that this finding is not driven by post‐merger changes in price that could affect OTP. Consequently, at least in the case of airlines, policymakers should not, as a rule, fear the negative quality effects of mergers.