Regulatory contract usage in case of antitrust mergers and acquisitions control

نویسندگان

چکیده

The article provides an analysis of counterparties’ benefits and costs within the framework regulatory contracts object which is structural prescriptions issued by antimonopoly authority controlling mergers acquisitions. purpose study to identify discrete institutional alternatives for creating credible commitments in with participation monitoring trustee (taking into account risk distorted incentives).The contract between regulator, trustee, company (merger participant) case divestiture, since this situation most sensitive terms setting incentives risks opportunism. subject such contracts. based on methods new economics law economics, it employs mathematical modeling. comparative used as main methodological approach, action coordination forms harmonization economic agents’ expectations — case, agency, a companies involved acquisitions transactions. Advantages disadvantages following contracting options were identified: independent regulator;monitoring involvement whose activities are financed competition or company; hybrid approach financing activities; distribution income from penalties way system pledges tripartite contract. also defines conditions results research can be guideline design Russian antitrust enforcement system.

برای دانلود رایگان متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Mergers and Acquisitions

 what a merger is and how it differs from an acquisition;  some of the reasons why companies merge;  the underlying merger rationales;  what a merger driver is;  what the primary merger drivers are;  the difference between horizontal integration, vertical integration and conglomeration;  the basic merger lifecycle and lifecycle phases;  some basic measures of success for mergers;  the ...

متن کامل

Mergers, Acquisitions and Control of Telecommunications Firms in Europe

Evidence is presented on twelve large acquisitions by telecommunications firms in Europe. Although the average effect on acquirers’ shareholder value is not significantly different from zero, there is high dispersion in the results. This suggests that detailed studies may uncover important aspects of the constraints that exist in the corporate control market of telecommunications firms. A case ...

متن کامل

Management practices and performance of mergers and acquisitions in Pakistan: mediating role of psychological contract

UNLABELLED The objective of this study is to examine the direct and indirect effect of management practices (procedural justice, coordination approach, communication system, integration strategy, and coping programs) on merger and acquisition (M&A) performance in the Pakistan banking industry. Psychological contract (PC) acts as a mediator between Management practices and M&A performance. The P...

متن کامل

Complementarities in Mergers and Acquisitions

We examine theoretically and empirically the determinants of the degree of complementarity between bidders and targets in mergers and acquisitions. Our paper extends existing literature, which demonstrates that firms that have stronger complementarities are more likely to become merger partners, by addressing the heterogeneity in bidders’ and targets’ complementarity in observed acquisitions. O...

متن کامل

Mergers and acquisitions: caution

They say fools of venture where angels fear to tread . Up until now , there's been no precedent for a successful technology merger of the size of the HP and Compaq merger. The most quoted failure is the merger of computer vendors Burroughs and Sperry. In 1986 these two merged their dissimilar operations and very different corporate cultures. Unisys, the resulting company, briefly held second pl...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: ??????? ?????-?????????????? ????????????

سال: 2021

ISSN: ['1811-9905', '2542-2251']

DOI: https://doi.org/10.21638/spbu05.2021.101