L e contrôle des concentrations en France: une analyse empirique des avis du Conseil de la concurrence

Lionel Janin and Benoît Menoni

Economie & Prévision, 2007, vol. n° 178-179, issue 2, 93-114

Abstract: We consider the factors explaining the rulings by the French Competition Council (Conseil de la Concurrence) in merger cases, to which we apply a latent-variable decision model. We use the factors mentioned in Council opinions as explanatory variables, although we acknowledge that this raises a potential endogeneity issue. In an initial specification, entry barriers and buyer power are shown to be the main supporting arguments given in the opinions. Using a second specification that excludes some endogenous factors, we find that market share and the industry concerned are the more objective determinants of the opinions, but with low explanatory power. For a selected group of transactions, we also compare Council opinions with stockmarket reaction to merger announcements.

Keywords: competition policy; merger control (search for similar items in EconPapers)
Date: 2007
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Related works:
Journal Article: Le contrôle des concentrations en France: une analyse empirique des avis du Conseil de la concurrence (2007)
Working Paper: Le Contrôle des concentrations en France: Une analyse empirique des avis du Conseil de la Concurrence (2005)
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