that it is beneficial to be a non-merging rival firm to a large horizontal merger. Using a sample of mergers with expert …It is commonly perceived that firms do not want to be outsiders to a merger between competitor firms. We instead argue … merger announcement date. Further, we find that the stock reaction of rivals to merger events is not sensitive to merger …

effect of mergers on innovation and future price competition; and reviews the empirical literature on competition, mergers …A proposal for moving from price-centric to innovation-centric competition policy, reviewing theory and evidence on … economic incentives for innovation. Competition policy and antitrust enforcement have traditionally focused on prices rather …

This paper analyzes the effects of mergers and acquisitions on the markups of non-merging rival firms across a broad … set of industries. We exploit expert market definitions from the European Commission's merger decisions to identify … their markups after mergers relative to a matched control group. Consistent with increases in market power, the effects are …

considered by the competition authorities in evaluating the matter. The merger was prohibited by the Competition Tribunal, but … this decision was overturned by the Competition Appeal Court which approved the three-to-two merger subject to behavioural … constrain upward pricing pressure post-merger, closeness of competition in differentiated product markets, the economic analysis …

This paper analyzes the effects of mergers on markups of non-merging rival firms in narrowly defined markets. Combining … data from the European Commission’s market assessments in merger decisions with production data, we use recent … the performance of almost 600 rival firms in close to 200 merger cases before and after the change in market structure …

classes across all sectors and all EU Member States, we identify different innovation profiles based on a firm's R …&D investment and/or innovation activities. We find that "basic" firms - i.e. firms that do not engage in any type of R&D or … innovation - are more common among young SMEs, while innovators - i.e. firms that do R&D and introduce new products, processes or …

what kind of assessment concepts competition authorities should use for investigating innovation effects, e.g., in merger … of competition law. This raises difficult questions about the relationship between competition and innovation as well as … cases. This paper, on one hand, reviews briefly our economic knowledge about competition and innovation, and claims that it …

what kind of assessment concepts competition authorities should use for investigating innovation effects, e.g., in merger … of competition law. This raises difficult questions about the relationship between competition and innovation as well as … cases. This paper, on one hand, reviews briefly our economic knowledge about competition and innovation, and claims that it …

Mergers and acquisitions shape industry competition. Effective merger remedies are important for market efficiency and … consumer welfare. This paper explores the need for more flexible remedies to address changing markets after mergers. While the …-phase, bifurcated merger control system. This system integrates ex-ante processes with more systematic and comprehensive ex …

such as innovation. This question arises because competition authorities are intervening in horizontal mergers that are … found to give rise to a “significant impediment to effective innovation competition” (“SIEIC”) as a result of a reduction in … impede effective competition as regards innovation both in innovation spaces where the Parties' lines of research and early …