Welfare Standards, Substantive Tests, and Efficiency Considerations in Merger Policy PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Welfare Standards, Substantive Tests, and Efficiency Considerations in Merger Policy PDF full book. Access full book title Welfare Standards, Substantive Tests, and Efficiency Considerations in Merger Policy by An Renckens. Download full books in PDF and EPUB format.
Author: An Renckens
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
For several years already, the efficiency defense (and its incorporation in the law) has been a much debated issue in merger policy. When discussing the introduction of an efficiency defense in merger control, it is important to define clearly its content and interpretation. However, different approaches to the concept of efficiency defense exist in the literature, and it is not always clear which jurisdictions apply an efficiency defense. Therefore, to improve communication and comparison between jurisdictions, it would be useful to reach agreement on the exact content of an efficiency defense. This paper proposes to define the efficiency defense along two dimensions: a conceptual one-related to the welfare standard-and a procedural one-related to the application of the substantive test. The main conclusion of this paper is that the concept of efficiency defense can only be appropriately applied under a total welfare standard and if efficiencies can be directly balanced against the anticompetitive effects of mergers on a case-by-case basis. Using this definition, only in Canada and Australia (formal review process) would an efficiency defense exist.
Author: An Renckens
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
For several years already, the efficiency defense (and its incorporation in the law) has been a much debated issue in merger policy. When discussing the introduction of an efficiency defense in merger control, it is important to define clearly its content and interpretation. However, different approaches to the concept of efficiency defense exist in the literature, and it is not always clear which jurisdictions apply an efficiency defense. Therefore, to improve communication and comparison between jurisdictions, it would be useful to reach agreement on the exact content of an efficiency defense. This paper proposes to define the efficiency defense along two dimensions: a conceptual one-related to the welfare standard-and a procedural one-related to the application of the substantive test. The main conclusion of this paper is that the concept of efficiency defense can only be appropriately applied under a total welfare standard and if efficiencies can be directly balanced against the anticompetitive effects of mergers on a case-by-case basis. Using this definition, only in Canada and Australia (formal review process) would an efficiency defense exist.
Author: Julie Clarke
Publisher: Edward Elgar Publishing
ISBN: 1781000026
Category : Law
Languages : en
Pages : 335
Get Book Here
Book Description
International Merger Policy offers a compelling comparative assessment of domestic and regional merger laws and procedures. Identifying important areas of convergence and emerging best practice, it considers existing levels of international cooperation
Author: Catalin Stefan Rusu
Publisher: Kluwer Law International B.V.
ISBN: 9041132597
Category : Business & Economics
Languages : en
Pages : 306
Get Book Here
Book Description
Twenty years of experience have inevitably brought to light challenges and tensions in the enforcement of the European merger control system. Some of these challenges have been faced, some have been solved and some remain latent. This very valuable study starts from the proposition that the EU has never fully acknowledged those fundamental challenges which relate to the rationale behind merger control in Europe. The author shows how the Commission's focus on adapting the rules of merger control to the economic realities of the future business environment, although designed with a view to facilitating European integration, has compromised attainment of legal certainty, transparency and welfare enhancement. In its detailed evaluation of the 'future market structure prediction process' embedded in European merger control policy, this book approaches two rock-bottom, far-reaching questions: In what ways does merger control promote consumer and societal welfare? Is the Commission able to correctly predict the outcome of any given concentration transaction? These considerations take the reader through a deep and searching analysis that calls into question the very credibility and transparency of the system, leading to alternatives which promise a new clarity of purpose and procedure. The author describes how these recommendations can be integrated into the functioning framework of the European project. Taken fully into account along the way is a wide spectrum of relevant source material, including the following: applicable articles and chapters of the founding and subsequent European Treaties; secondary European legislation concerning competition and merger activity; domestic competition laws; guidelines, notices and action plans; competition law reviews, statements of intentions; draft legislative attempts; speeches on the enactment and purpose of merger control; Member States' views concerning European merger control as expressed during Council negotiations; officially available concentration-related statistics; and a wide-ranging literature review covering both the legal and economic sides of merger control. Throughout, the author substantiates theoretical assertions with case law examples, clearly exposing doctrines arising from such cases as Continental Can, Phillip Morris/Rothmans and the Airtours, Schneider and Tetra Laval trilogy. A unique feature of the analysis draws on the author's personal experience while working for a Brussels competition law firm. This book is a remarkable compound of academic guide to the roots and rationales of the European Merger Control System, practical guide to the day-to-day intricacies of merger control enforcement, and 'raw' guide for decision makers and merger control law enforcers. It will be of immense value in all three contexts.
Author: Kokkoris, Ioannis
Publisher: Edward Elgar Publishing
ISBN: 1789903793
Category : Law
Languages : en
Pages : 507
Get Book Here
Book Description
This incisive Research Handbook identifies and assesses the emerging trends in competition enforcement, investigating how such changes impact the enforcement approach of competition authorities and the behaviour of companies in an ever-evolving business and regulatory environment.
Author: Jacques Derenne
Publisher: Primento
ISBN: 2802745468
Category : Law
Languages : en
Pages : 352
Get Book Here
Book Description
Throughout this unprecedented crisis which is hitting all major economies in the EU, the escalation of the Eurozone recession increasingly undermines public confidence in the ability of competitive markets to deliver positive outcomes. A debate on the most appropriate way to enforce competition rules, in light of the crisis, is definitely useful. A “relaxed” stance to competition during difficult periods may be tempting and indeed, this has often been the approach used in the past. However, the enforcement of competition rules is no less important during times of crisis than during normal periods. It has also been argued that, when public resources are stretched to the limit and businesses are struggling to survive, competition authorities should seek to focus their limited resources on those anticompetitive practices which are most detrimental to consumer welfare such as cartels. Indeed, if over-enforcement is perhaps undesirable when the economy is functioning well, it will inevitably become more problematic during an economic downturn. In addition, business managers may be increasingly tempted to resort to anticompetitive practices when faced with economic hardship. This book will appeal to judges and lawyers in competition law, European law, business/corporate law and insolvency law ; the study of European competition law, European institutions, national competition authorities, and companies.
Author: Albert Sánchez Graells
Publisher: Bloomsbury Publishing
ISBN: 1782253599
Category : Law
Languages : en
Pages : 480
Get Book Here
Book Description
Shortlisted for the 2012 Prix Vogel in Economic Law. Public procurement and competition law are both important fields of EU law and policy, intimately intertwined in the creation of the internal market. Hitherto their close connection has been noted, but not closely examined. This new work is the most comprehensive attempt to date to explain the many ways in which these fields, often considered independent of one another, interact and overlap in the creation of the internal market. In this process of convergence between competition and public procurement law , the need for this joint study is clearly apparent. As such the book asks whether competition law principles inform or condition public procurement rules, and whether they are adequate to ensure that competition is not distorted in markets where public procurement is particularly significant. The book moves away from the classical focus of public procurement on the activities of private actors, developing instead an analytical framework for the appraisal of the market behaviour of the public buyer from a competition perspective. The analysis is both legal and economic. Proceeding through a careful assessment of the general rules of competition and public procurement, the book constantly tests the efficacy of the rules in competition and public procurement against a standard of the proper functioning of undistorted competition in the market for public procurement.
Author: John Duns
Publisher: Edward Elgar Publishing
ISBN: 1785362577
Category : Law
Languages : en
Pages : 529
Get Book Here
Book Description
Comparative Competition Law examines the key global issues facing competition law and policy. This volume’s specially commissioned chapters by leading writers from the United States, Europe, Asia, South America, and Australia provide a synthesis of how these current issues are addressed by drawing on the approaches taken in different jurisdictions around the world. Expert contributors examine the regulation of core competitive conduct by comparing substantive law approaches in the US and the EU. The book then explores issues of enforcement – such as the regulator’s powers, whether to criminalize anti-competitive conduct, the degree to which private enforcement ought to be encouraged, and the extraterritorial scope of domestic laws. Finally, the book discusses how competition law is being implemented in a variety of countries, including Japan, China, Brazil, Chile, and Colombia. This scholarly analysis of the key substantive, procedural, and remedial challenges facing global competition law policymakers offers a comparative framework to facilitate a better understanding of relevant policies. This collection of global perspectives will be of great interest to scholars and students of competition law, microeconomics, and regulatory studies. Competition law regulators, policy makers, and law practitioners will also find this book an invaluable resource.
Author: Mika Oinonen
Publisher: Kluwer Law International B.V.
ISBN: 9041142355
Category : Law
Languages : en
Pages : 448
Get Book Here
Book Description
Although the question posed by the title of this book has generated considerable debate, the essential issue remains open and largely blurred. While some believe that there is no so-called ‘small market problem’, others discern discrimination against small market companies (i.e., companies with a strong position in their home markets but a modest position in the European and global markets) and a consequent need for changes in competition law. The author of this enormously helpful work here sets the stage for meaningful discussion by analysing the EC Merger Regulation’s objectives, economic foundations, and application practice to present a reasoned view of the issues that can be considered relevant for such a discussion. Considering their effect on the ’small market problem’, the author scrutinizes such factors as the following: the Commission’s methodology for delineating relevant markets in merger assessments; unnecessary prohibition caused by overestimation of the market power of small market mergers; erroneous approval of cases that should actually be prohibited; impact of the so-called ‘Harvard’ and ‘Chicago’ schools of competition theory and their key policy implications; process-related alternative views of competition and new synthesizing approaches; relevant criteria for a proper analysis of market power; concentration measures and market shares; barriers to entry; price and profitability analyses; and product definition v. geographic definition of markets. In a final chapter, the author presents some tentative conclusions, normative in nature, concerning the problem and the relevant issues relating to it. As the first in-depth analysis of the issues that are actually involved – with its particular diagnosis of the assessment of market power in considering the relevant issues for the problem – this study brings into salience the terms of the debate on the ‘problem’, and thus takes a giant step forward towards defining what needs to be done. Competition lawyers, policymakers, and academics in Europe and elsewhere will find the discussion of great value.
Author: Almunawar, Mohammad Nabil
Publisher: IGI Global
ISBN: 1799849856
Category : Business & Economics
Languages : en
Pages : 883
Get Book Here
Book Description
Business-to-consumer (B2C) and consumer-to-consumer (C2C) e-commerce transactions, including social commerce, are rapidly expanding, although e-commerce is still small when compared to traditional business transactions. As the familiarity of making purchases using smart devices continues to expand, many global and regional investors hope to target the ASEAN region to tap into the rising digital market in this region. The Handbook of Research on Innovation and Development of E-Commerce and E-Business in ASEAN is an essential reference source that discusses economics, marketing strategies, and mobile payment systems, as well as digital marketplaces, communication technologies, and social technologies utilized for business purposes. Featuring research on topics such as business culture, mobile technology, and consumer satisfaction, this book is ideally designed for policymakers, financial managers, business professionals, academicians, students, and researchers.
Author: Ioannis Kokkoris
Publisher: Edward Elgar Publishing
ISBN: 180037819X
Category : Law
Languages : en
Pages : 685
Get Book Here
Book Description
Over the past 30 years, merger control has become well-established around the world with broad consensus around its ambit and objectives. That consensus has fractured in recent years. Enforcement today is at a critical juncture, facing an array of challenges and calls for reform unprecedented in their scope and intensity. Authored by leading legal practitioners, economists, enforcers and jurists, this timely Research Handbook on Global Merger Control discusses those challenges and predicts how merger control is likely to evolve.