Working Paper No. 543

Efficiency Gains from Mergers

Publicerad: December 20, 2000Antal sidor: 104Nyckelord: Mergers & Acquisitions; Event Studies; Antitrust; Coalition FormationJEL-koder: K21; L10; L40

Efficiency Gains from Mergers Lars-Hendrik Röller, Johan Stennek and Frank Verboven


The purpose of this report is to contribute to the analysis of two questions. Should a merger control system take into account efficiency gains from horizontal mergers, and balance these gains against the anti-competitive effects of mergers? If so, how should a system be designed to account for efficiency gains? The report is based on a report to the European Commission.

To help answer the two questions we start with an extensive review of the relevant economic research, including both theoretical and empirical studies of mergers and merger control. Next, we review the current legal practice in seven OECD jurisdictions. Finally, we propose a merger control system, emphasising the central role of informational limitations.

Based on our conclusions from the empirical literature that efficiencies may need to be assessed on a case-by-case basis, we construct an information-economising two-stage decision framework for evaluating mergers. In a first stage, notified mergers are assessed using routine tools with modest information requirements. Mergers that do not pass the first stage test are subject to further investigation, including an efficiency defence.

Två filter:

Varför du har fel om nästan allt, men ändå inte vill ändra dig

Två filter av Andreas Bergh 2017 f hemsidan.jpg

Du har fel om tillståndet i världen, du har fel om vad det beror på och ändå är chansen liten att du ändrar din åsikt. Samhällsdebatten domineras av negativt tänkande förklarar Andreas Bergh, IFN, i denna bok. Han skriver att i takt med att världen blir allt bättre att leva i blir vårt instinktiva negativitetsfilter allt sämre anpassat till verkligheten.

Institutet för Näringslivsforskning, Grevgatan 34 - 2 tr, Box 55665, SE-102 15 Stockholm, Sweden | Tel: +46-(0)8-665 45 00 | info@ifn.se