An Empirical Assessment of the 2004 EU Merger Policy Reform
Bibliographic Data
| ID | 9713833 |
|---|---|
| Authors | Tomaso Duso (0000-0003-3050-1335, DIW Berlin and Duesseldorf Institute for Competition Economics (DICE)), Klaus Gugler (0000-0002-6795-7216, WU (Vienna University of Economics and Business)), Florian Szücs (0000-0001-9106-9801, DIW Berlin) |
| Year | 2013 |
| Volume | 123 |
| Issue | 572 |
| Pages | F596-F619 |
| Publication date | 2013-11-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/ecoj.12081 |
| OpenAlex | W2138300149 |
| Language | EN |
| Citations received | 9 |
| References cited | 26 |
Based on a database of 368 merger cases scrutinized by the European Commission (EC) between 1990 and 2007, we evaluate the economic impact of the change in European merger legislation in 2004. We propose a general framework to assess merger policy effectiveness, focusing on four different policy dimensions: 1) predictability, 2) decision errors, 3) reversion of anti-competitive rents, and 4) \ndeterrence. We compare the results before and after the reform, finding that the "more economic approach" resulted in improved ex-ante predictability of decisions and a reduction of the frequency of type I errors. Merger policy enforcement deters anti-competitive mergers without over-deterring pro-competitive transactions. Yet, the policy shift away from prohibitions, which are effective as a policy tool and as a deterrence mechanism, does not seem to be well grounded. (authors' abstract)
Deterrence theory · Economic rent · Economics · Legislation · Merger control · Microeconomics · Political science · Predictability · Public economics · Corporate Finance and Governance · Finance · Global trade and economics · Law · Merger and Competition Analysis
Multiunion Bargaining
The Rise of the East and the Far East: German Labor Markets and Trade Integration
Do antitrust laws erode shareholder returns? Evidence from the Chinese market
Globalization and local profiles of economic growth and industrial change
Price‐sensitive demand and market entry
Enforcement of Merger Control
Contributions to Competition Economics
Simultaneous and Sequential Contributions to Step-level Public Goods
Delegation in EU merger control
| Unique citing works | 9 |
|---|---|
| Citations per year | 0,69 |
| Citation span | 2013 - 2023 (11) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 8 |