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We analyze the effects of structural remedies on merger activity in a Cournot oligopoly when the Antitrust Agency (AA …) cannot observe a proposed merger's efficiency type. Provided the AA follows a consumer surplus standard, an efficient merger …
Persistent link: https://www.econbiz.de/10011414129
We analyze evidence production in merger control as a delegation problem in an inquisitorial competition policy system …. The antitrust agency’s incentives to produce evidence on the efficiency of a merger proposal depend critically on its … implemented only after evidence on the efficiency of a merger proposal has been produced. …
Persistent link: https://www.econbiz.de/10012438354
combining and further analyzing the results of 52 retrospective studies on 82 mergers or merger-like transactions it can be …In this comprehensive review of ex-post merger studies price effects of horizontal transactions are evaluated. By … shown that the industry alone is no strong indication for the direction of price-related merger effects. However, the "size …
Persistent link: https://www.econbiz.de/10012652877
Market concentration often leads to unnecessarily high prices and reduced innovation. European merger control …, merger control needs to be enforced even more stringently, especially in digital markets. Attempts to weaken merger control …
Persistent link: https://www.econbiz.de/10012007682
Persistent link: https://www.econbiz.de/10001715224
Persistent link: https://www.econbiz.de/10002462013
In the 1990s, European merger regulation (EMR) was biased against foreign acquirers, especially if the deal harmed … 2004. With a sample of 474 merger proposals submitted to the EC during 1990–2007, we show that the EC's protectionism from …
Persistent link: https://www.econbiz.de/10013105181
This study examines the effects of Canadian divestitures announcements on selling companies' shareholder wealth. Using a non parametric bootstrap approach to test for significance, our results show that the sell-off announcement produces significant positive average abnormal returns of 0.92%...
Persistent link: https://www.econbiz.de/10013150592
When an event is anticipated, the firm's stock return around the announcement of the event may have an inconsistent sign: a positive sign around negative news, or vice versa. We attempt to quantify the frequency of this problem, first with a brief mathematical model and simulation, then with...
Persistent link: https://www.econbiz.de/10013088910
China's markets gained 3.86% around December 4, 2012, when the Party announced anti-corruption reforms. State-owned enterprises (SOEs) with higher past entertainment and travel costs (ETC) gained more. NonSOEs gained in more liberalized provinces, especially those with high past ETC,...
Persistent link: https://www.econbiz.de/10014514082