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Based on a database of 326 merger cases scrutinized by the European Commission between 1990 and 2007, we evaluate the economic impact of the change in European merger legislation in 2004. We first propose a general framework to assess merger policy effectiveness, which is based on standard...
Persistent link: https://www.econbiz.de/10008822615
We propose a general framework to assess merger policy effectiveness based on standard oligopoly theory and stock market reactions. We focus on four different dimensions of effectiveness: 1) legal certainty, 2) decision errors, 3) reversion of anti-competitive rents, and 4) deterrence. We apply...
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erforscht. Zuerst wird ein allgemeiner Ansatz vorgeschlagen, um die Effektivität der Fusionskontrolle zu evaluieren, welcher auf …. Vier unterschiedliche Aspekte der Effektivität der Fusionskontrolle werden dann untersucht: 1) die Rechtssicherheit, 2) die … mäßigen Verbesserung der Europäischen Fusionskontrolle geführt hat. …
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We evaluate the economic impact of the change in European merger legislation in 2004 and propose a general framework focusing on four different policy dimensions: 1) predictability, 2) decision errors, 3) reversion of anti-competitive rents, and 4) deterrence. We find that after the reform the...
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