About: The efficiency of EU merger control during the period 1990-2008

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
Description	The main goal of this paper is to empirically test the function of European merger control in light of the 2004 regulatory reform, which was expected to introduce a more efficient regulatory framework for the assessment of mergers within the EU. We use stock market data to identify cases where there are discrepancies between the European Commission's decisions compared to market evaluations of the mergers in question. Using the PROBIT model, these cases are further investigated to discover the sources of these discrepancies. In line with previous studies, our results suggest that the discrepancies are caused by procedural and institutional factors. Nevertheless, the regulatory reform introduced in 2004 has, to some extent, enhanced the efficiency of European merger control in the sense that the Commission's assessments of mergers under the new regulation are more consistent with the market evaluations. We found that the probability of an anti-competitive deal being cleared decreases significantly under the new regulatory framework. Nevertheless, the occurrence of unnecessary remedies has not decreased as the result of the new merger control system. The main goal of this paper is to empirically test the function of European merger control in light of the 2004 regulatory reform, which was expected to introduce a more efficient regulatory framework for the assessment of mergers within the EU. We use stock market data to identify cases where there are discrepancies between the European Commission's decisions compared to market evaluations of the mergers in question. Using the PROBIT model, these cases are further investigated to discover the sources of these discrepancies. In line with previous studies, our results suggest that the discrepancies are caused by procedural and institutional factors. Nevertheless, the regulatory reform introduced in 2004 has, to some extent, enhanced the efficiency of European merger control in the sense that the Commission's assessments of mergers under the new regulation are more consistent with the market evaluations. We found that the probability of an anti-competitive deal being cleared decreases significantly under the new regulatory framework. Nevertheless, the occurrence of unnecessary remedies has not decreased as the result of the new merger control system. (en)
Title	The efficiency of EU merger control during the period 1990-2008 The efficiency of EU merger control during the period 1990-2008 (en)
skos:prefLabel	The efficiency of EU merger control during the period 1990-2008 The efficiency of EU merger control during the period 1990-2008 (en)
skos:notation	RIV/00216208:11230/11:10100210!RIV12-GA0-11230___
http://linked.open...avai/predkladatel	Fakulta sociálních věd
http://linked.open...avai/riv/aktivita	P S Z
http://linked.open...avai/riv/aktivity	P(GAP403/10/1235), P(GPP403/10/P278), S, Z(MSM0021620841)
http://linked.open...iv/cisloPeriodika	3
http://linked.open...vai/riv/dodaniDat	2012
http://linked.open...aciTvurceVysledku	Serdarevič, Goran Teplý, Petr
http://linked.open.../riv/druhVysledku	J - Článek v odborném periodiku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Univerzita Karlova v Praze / Fakulta sociálních věd
http://linked.open...dnocenehoVysledku	196725
http://linked.open...ai/riv/idVysledku	RIV/00216208:11230/11:10100210
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	PROBIT model; regulatory reform; political economy; European Union; merger control (en)
http://linked.open.../riv/klicoveSlovo	European Union PROBIT model merger control political economy regulatory reform
http://linked.open...odStatuVydavatele	CZ - Česká republika
http://linked.open...ontrolniKodProRIV	[8EAB4F7B517B]
http://linked.open...i/riv/nazevZdroje	Finance a Uver
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	2 (xsd:int)
http://linked.open...cetTvurcuVysledku	2 (xsd:int)
http://linked.open...vavai/riv/projekt	Institutional Responses to Financial Market Failures The Implications of The Global Crisis on Economic Capital Management of Financial Institutions
http://linked.open...UplatneniVysledku	2011
http://linked.open...v/svazekPeriodika	61
http://linked.open...iv/tvurceVysledku	Teplý, Petr Serdarevič, Goran
http://linked.open...ain/vavai/riv/wos	000293383600003
http://linked.open...n/vavai/riv/zamer	Development of the Czech Society in the EU: challenges and risks
issn	0015-1920
number of pages	25 (xsd:int)
http://localhost/t...ganizacniJednotka	11230
is http://linked.open...avai/riv/vysledek of	The efficiency of EU merger control during the period 1990-2008 The efficiency of EU merger control during the period 1990-2008

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