Competition among producers within an integrated electricity system is impeded by any limited transmission capacity there may be at its borders. Two alternative market mechanisms have recently been designed to organize the allocation of scarce transmission capacity at cross-border level: the...

In a referendum on 23rd June 2016, the United Kingdom (UK) voted for ‘Brexit’, i.e., to leave the European Union (EU). After some delay the government will invoke Article 50 TEU, which would begin a two-year period of negotiation for a withdrawal agreement, after which the EU treaties would...

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. Th is work is the most comprehensive attempt to date to explain the many...

Size thresholds exist for overall, national merger review and for assignment to national versus supranational responsibility. I analyse competition effects close to these review thresholds. Firms could strategically pursue competition-reducing mergers before they come under any regulatory...

Common ownership fundamentally upsets the well-settled merger enforcement ecosystem. Not only it challenges basic principles informing merger policy such as the presumed profitability of mergers for the merging firms and the merger-specificity of potential efficiencies but also it works against...

The literature shows that horizontal shareholding engenders significant anticompetitive effects and that no suitable instrument exists within European competition law which reliably and effectively can be applied to curtail such intrinsic effects. This Article analyses several proposals which...

In this paper, we set forth a scoreboard for dealing with those risks that arise from the governance of any organization. Firstly, we introduce the subject of governance risks and, secondly, we move on to a cardinal index that not only measures up governance performance but also provides with a...

In this Article we submit that the compensation structures at banks before the financial crisis were not necessarily flawed and that recent reforms in this area largely reflect already existing best practices. In Part I we review recent empirical studies on corporate governance and executive pay...

Key points:• This article considers how the recent market turmoil affected national banking systems, thereby prompting state measures;• It describes the remuneration problems shown by the financial crisis: rewards for failure; short-term behaviour; inappropriate design of performance...