, we contrast a measure of the merger's profitability based on event studies with one based on accounting data. We find …

Recent 'open-economy industrial organization' literature finds export orientation enhances the weight of post-merger … international competitive gains, favouring lenient domestic merger policy. However, mergers seldom generate the 'significant … merger policy. We show how non-synergistic domestic mergers in the presence of international sales might reduce national …

This paper explores the Federal Trade Commission’s unilateral effects merger policy using a sample of 184 … impediments to entry represents the marginal merger challenge. Case specific facts explain deviations from this rule and suggest … that critical diversion ratios fall into the 25-30 percent range. Share based indices (post-merger market share, change in …

problematic, particularly in dynamic markets, because economic theory does not often allow a confident prediction of what would … cases should be required to support their claims with a plausible theory and evidence, and that the burden should be greater …

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 oligopoly theory and makes use of stockmarket reactions as an external …