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We study the economic consequences of anti-loss trafficking rules, which disallow the use of loss carry-forwards as tax shield after a substantial ownership change. Using staggered changes to these rules, we find that limiting the transfer of tax losses reduces the number of M&As with...
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The U.S. and EU Merger Guidelines strongly emphasize the relevance of the "ease of entry" argument in merger …
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This paper investigates the effects of mergers, entry, and exit in retail markets when input prices are negotiated. Results are derived from a model of bilateral Nash-bargaining between manufacturers and retailers which allows for general forms of demand and retail competition. Whether...
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definition and the complexity of the merger. Simple, linear probability models as usually applied in the literature overestimate …We study the evolution of EC merger decisions over the first 25 years of common European merger policy. Using a novel … dataset at the level of the relevant antitrust markets and containing all merger cases scrutinized by the Commission over the …
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