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An econometric analysis of the European Commission's merger decisions

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  • Bergman, Mats A.
  • Jakobsson, Maria
  • Razo, Carlos

Abstract

Using a sample of 96 mergers notified to the EU Commission and logit regression techniques, we analyse the Commission's decision process. We find that the probability of a phase 2 investigation and of a prohibition of the merger increases with the parties' market shares. The probability increases also when the Commission finds high entry barriers or that post-merger collusion is easy. We do not find significant effects of political variables, such as the nationality of the merging firms or the identity of the commissioner.

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Bibliographic Info

Article provided by Elsevier in its journal International Journal of Industrial Organization.

Volume (Year): 23 (2005)
Issue (Month): 9-10 (December)
Pages: 717-737

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Handle: RePEc:eee:indorg:v:23:y:2005:i:9-10:p:717-737

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Web page: http://www.elsevier.com/locate/inca/505551

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  1. Daniel McFadden, 1976. "The Revealed Preferences of a Government Bureaucracy: Empirical Evidence," Bell Journal of Economics, The RAND Corporation, vol. 7(1), pages 55-72, Spring.
  2. Khemani, R S & Shapiro, Daniel M, 1993. "An Empirical Analysis of Canadian Merger Policy," Journal of Industrial Economics, Wiley Blackwell, vol. 41(2), pages 161-77, June.
  3. Daniel McFadden, 1975. "The Revealed Preferences of a Government Bureaucracy: Theory," Bell Journal of Economics, The RAND Corporation, vol. 6(2), pages 401-416, Autumn.
  4. Nilssen, Tore, 1997. "On the Consistency of Merger Policy," Journal of Industrial Economics, Wiley Blackwell, vol. 45(1), pages 89-100, March.
  5. Joseph Farrell and Carl Shapiro., 1988. "Horizontal Mergers: An Equilibrium Analysis," Economics Working Papers 8880, University of California at Berkeley.
  6. Fabienne Ilzkovitz & Roderick Meiklejohn, 2003. "European Merger Control: Do We Need an Efficiency Defence?," Journal of Industry, Competition and Trade, Springer, vol. 3(1), pages 57-85, March.
  7. Posner, Richard A, 1970. "A Statistical Study of Antitrust Enforcement," Journal of Law and Economics, University of Chicago Press, vol. 13(2), pages 365-419, October.
  8. Ghosal, Vivek & Gallo, Joseph, 2001. "The cyclical behavior of the Department of Justice's antitrust enforcement activity," International Journal of Industrial Organization, Elsevier, vol. 19(1-2), pages 27-54, January.
  9. Röller, Lars-Hendrik & Stennek, Johan & Verboven, Frank, 2000. "Efficiency Gains from Mergers," Working Paper Series 543, Research Institute of Industrial Economics.
  10. Davies, Stephen W & Driffield, Nigel L & Clarke, Roger, 1999. "Monopoly in the UK: What Determines Whether the MMC Finds against the Investigated Firms?," Journal of Industrial Economics, Wiley Blackwell, vol. 47(3), pages 263-83, September.
  11. Damien Neven, 2002. "Discrepancies Between Markets and Regulators: an Analysis of the First ten Years of EU Merger Control," IHEID Working Papers 10-2002, Economics Section, The Graduate Institute of International Studies.
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