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Merger Control and Enterprise Competitiveness - Empirical Analysis and Policy Recommendations

Author

Listed:
  • Stennek, Johan

    (The Research Institute of Industrial Economics)

  • Verboven, Frank

    (University of Antwerp)

Abstract
This report studies the importance of efficiency gains from horizontal mergers. A general theme throughout this report is that efficiency gains, and their pass-on to consumers, may vary substantially from merger to merger. For this reason it seems appropriate to reconsider current practice in European merger control, which does not allow the merging parties to appeal to an efficiency defence. Our report provides a detailed examination of two main parts of an efficiency analysis. The first chapter considers the presence of efficiencies from mergers, with a focus on economies of scale. The second chapter consider the pass-on of efficiencies to consumers in the form of lower prices.

Suggested Citation

  • Stennek, Johan & Verboven, Frank, 2001. "Merger Control and Enterprise Competitiveness - Empirical Analysis and Policy Recommendations," Working Paper Series 556, Research Institute of Industrial Economics.
    • Handle: RePEc:hhs:iuiwop:0556
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    File URL: https://www.ifn.se/Wfiles/wp/WP556.pdf
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    Citations

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    Cited by:

    1. Fatemeh Nazifi, 2016. "The pass-through rates of carbon costs on to electricity prices within the Australian National Electricity Market," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 18(1), pages 41-62, January.
    2. Misato Sato & Karsten Neuhoff & Verena Graichen & Katja Schumacher & Felix Matthes, 2013. "Sectors under scrutiny � Evaluation of indicators to assess the risk of carbon leakage in the UK and Germany," GRI Working Papers 113, Grantham Research Institute on Climate Change and the Environment.
    3. FRANK VERBOVEN & THEON van DIJK, 2009. "Cartel Damages Claims And The Passing‐On Defense," Journal of Industrial Economics, Wiley Blackwell, vol. 57(3), pages 457-491, September.
    4. Banal-Estanol, Albert & Macho-Stadler, Ines & Seldeslachts, Jo, 2008. "Endogenous mergers and endogenous efficiency gains: The efficiency defence revisited," International Journal of Industrial Organization, Elsevier, vol. 26(1), pages 69-91, January.
    5. Albert Banal-Estañol & Ines Macho-Stadler & Jo Seldeslachts, 2003. "Mergers, Investment Decisions and Internal Organisation," CESifo Working Paper Series 944, CESifo.
    6. Demailly, Damien & Quirion, Philippe, 2008. "European Emission Trading Scheme and competitiveness: A case study on the iron and steel industry," Energy Economics, Elsevier, vol. 30(4), pages 2009-2027, July.
    7. Demailly, Damien & Quirion, Philippe, 2008. "Changing the Allocation Rules in the EU ETS: Impact on Competitiveness and Economic Efficiency," Climate Change Modelling and Policy Working Papers 46623, Fondazione Eni Enrico Mattei (FEEM).
    8. George Georgopoulos, 2008. "The J-curve Revisited: An Empirical Analysis for Canada," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 36(3), pages 315-332, September.
    9. Adriaan Kate & Gunnar Niels, 2005. "To What Extent are Cost Savings Passed on to Consumers? An Oligopoly Approach," European Journal of Law and Economics, Springer, vol. 20(3), pages 323-337, November.
    10. Philippe Bontems & Nicolas Gruyer, 2007. "When cost improvements harm consumers," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 30(1), pages 63-79, February.
    11. Fabienne Ilzkovitz & Roderick Meiklejohn, 2006. "European Merger Control: Do We Need an Efficiency Defence?," Chapters, in: Fabienne IIzkovitz & Roderick Meiklejohn (ed.), European Merger Control, chapter 2, Edward Elgar Publishing.
    12. Bergman, Mats A. & Jakobsson, Maria & Razo, Carlos, 2005. "An econometric analysis of the European Commission's merger decisions," International Journal of Industrial Organization, Elsevier, vol. 23(9-10), pages 717-737, December.
    13. Froeb, Luke & Tschantz, Steven & Werden, Gregory J., 2005. "Pass-through rates and the price effects of mergers," International Journal of Industrial Organization, Elsevier, vol. 23(9-10), pages 703-715, December.
    14. Miguel González-Maestre & Diego Peñarrubia, 2005. "Innovation, merger policy and technology transfer," Investigaciones Economicas, Fundación SEPI, vol. 29(1), pages 181-201, January.
    15. Ali-Yrkkö, Jyrki, 2002. "Mergers and Acquisitions - Reasons and Results," Discussion Papers 792, The Research Institute of the Finnish Economy.
    16. Yihsu Chen & Jos Sijm & Benjamin Hobbs & Wietze Lise, 2008. "Implications of CO 2 emissions trading for short-run electricity market outcomes in northwest Europe," Journal of Regulatory Economics, Springer, vol. 34(3), pages 251-281, December.

    More about this item

    Keywords

    Mergers & Acquisitions; Merger Control; Competition Policy; Antitrust;
    All these keywords.

    JEL classification:

    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General

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