论欧盟并购控制法的权力分配机制

欧盟作为世界上最为成功的区域性国际组织,在处理欧盟与成员国关系方面取得了创造性的成就.在并购控制领域,欧盟通过一系列法律制度,确立了明确、透明、灵活的权力分配机制.阐述欧盟并购控制的权力分配原则及分配标准,进而介绍并购控制的移送管辖制度,最后对新并购条例管辖权分配机制运行状况进行评价.     

欧盟法对企业合并的规制

企业合并是当今各国优化产业结构和企业组织结构的重要手段,也是企业迅速扩张、提高规模经济效益和国际竞争力的有效手段.然而,经济力量的集中和由此导致的市场结构的改变,容易产生或加强市场支配力量,从而起到排除或限制竞争的作用.为了防止企业通过并购实现或加强市场支配地位,维护市场上的竞争秩序,对一定规模以上的企业并购交易进行反垄断审查,已成为市场经济国家设计和实施反垄断法的通行做法.目前,已有七十多个国家建立了企业并购控制机制.其中十分引人注目的是,欧盟于上世纪90年代初建立了企业合并控制机制,并于2004年进行了改革.到目前为止,欧盟竞争总司作出的并购审查决定已达两千多件,在此过程中积累了丰富的经验.拟对欧盟企业合并控制制度的建立、理论、程序及实体规则进行研究,并就中国企业合并控制制度的现状及发展提出自己的看法.     

The Role of Organisational Culture in the Merger of English Local Authorities into a Single Unitary Authority

Cornwall Council is a new ‘unitary’ local authority which was created following the merger of six district councils and one county council on 1 April 2009. A questionnaire survey based on specific ‘dimensions’ of organisational culture was circulated to staff prior to the merger date. Overall, the results indicated a generally congruent culture characterised by a strong team spirit and commitment to the workplace. A number of differences were observed between the cultural orientations of the seven councils, but there was only weak evidence of differences between tiers of management or professional groupings. The study suggests that the new organisation will have to find ways of ‘unfreezing’ staff from their established ways of thinking and working before changes can be properly embedded. It is recommended that the organisational change process shifts from a top-down ‘planned’ approach to a more ‘emergent’ approach to facilitate learning and organisational development.     

Territorial Boundaries as Limits: A Foucauldian Analysis of the Agglomeration of Municipalities

Public management theories have focused scholars' attention on agglomeration processes between public administrations. Such processes are relevant at a local level to increase efficiency and effectiveness in the provision of public services. Scholars and practitioners have pointed out economies of scale and efficiency in the production of public services as the most important incentives for adopting agglomeration policies.

All kinds of related discourse, such as that relating to economics for example, need to be coordinated in order to change the behaviour of citizens and make the agglomeration process acceptable. The present article adopts a Foucauldian approach in highlighting an additional variable/discourse in addition to all the others used to foster agglomeration processes: the identity and culture of the communities involved in this kind of process.     

Eu merger control and the compatibility test:a review of recent developments

The compatibility test contained in Article 2 of the Merger Control Regulation (MCR) is at the very heart of EU merger control, for it determines whether a concentration with a community dimension is deemed compatible or incompatible with the common market. Incompatibility can lead to prohibition of a concentration, although this is rare. The paper reviews the recent developments to the conditions of the test itself as well as the analytical methods employed to determine compatibility. Concerning the former, the new foreseeable dominance interpretation, put forward by the European Commission and made law by the Court of First Instance (CFI), is explored. This new variant of the dominance condition is important on its own right but it is also of major interest because of the explicit legal requirement placed on the Commission to assess the future likelihood of abusive behaviour by the merging parties in its prospective analysis. This is not the case with the original dominance compatibility condition. The unexpected but important clarification by the CFI of the notion of substantial part of the common market, as contained in the express wording of the compatibility test, is also commented upon. Concerning the determination of compatibility, the Commission's controversial employment in certain conglomerate concentrations of the range effects of competitive harm theory is examined, as is the need to take cognisance of merger specific efficiencies when determining if a merger increases societal welfare. The EU is making progress toward such an efficiencies assessment as part of the compatibility determination. EU merger control – and hence the compatibility test – do not exist in a vacuum. The EU has played a major role in shaping the new multilateral architecture and its goal of increasing international convergence in competition matters. This in turn has led the EU to rethink the nature of the compatibility test. For example, it has sought to evaluate the dominance condition of the compatibility test with the substantial lessening of competition (SLC) approach used by some other regulators, like the US. The paper concludes by looking at a fundamental issue that has arisen from recent CFI judgements and the GE/Honeywell merger: the competence of the Commission, or more accurately the Merger Task Force (MTF), to carry out the compatibility determination. Proposals are outlined so as to ensure that the Commission's prospective analysis in a concentration case meets the requisite legal standard. It is essential for this standard to be met if EU merger control is to remain credible. This revised version was published online in July 2006 with corrections to the Cover Date.     

公司并购中的职工权益保护

公司并购是一种市场交易行为,在这种市场行为过程中,公司往往以追求经济利益最大化为目的而易于忽视或侵害公司职工权益。职工权益是公司整体利益的组成部分,切实维护职工权益,处理好公司与职工的关系是顺利开展公司并购活动、实现并购预期的重要环节。     

美国《横向合并指南》的最新修订及启示

美国司法部与联邦贸易委员会于2010年8月联合发布了新版《横向合并指南》,新指南进一步淡化了结构主义色彩,打破了1992年指南所创设的五步分析法,相关市场界定的重要性也被大大降低,指南的制度设计趋向一个事实为基、更富弹性的分析框架。中国应借鉴美国的成熟经验,尽快研究制定横向合并指南,从"反竞争效果认定制度群"、"反竞争效果抗辩制度群"以及"反竞争效果补救制度群"三大方面来把握横向合并指南的内容。中国应注意平衡合并审查制度的确定性与灵活性,加强合并审查中法学与经济学的融合,并积极创建合并案件跟访制度。     

合并控制中的向上定价压力测试法

向上定价压力测试法简称UPP测试法,是近年理论界提出的一种评估差异性产品供应商之间横向合并能否导致单边效应的新方法。UPP测试法基于对合并企业产品之间转移率的判断,通过量化合并企业之间竞争约束的减少程度,分析合并交易带来的涨价激励,从而评估合并导致单边效应的可能性。虽然目前中国还缺乏UPP测试法的适用环境,但随着立法的完善与执法的发展,该方法在中国日后肯定有适用的空间。     

试论投资银行在企业并购中的作用

在世界企业并购浪潮一浪高过一浪之时 ,我国的企业并购仍在蹒跚学步 ,对投资银行在企业并购中的认识微乎其微。鉴于此 ,我们从投资银行业务入手 ,说明并购业务是投资银行的核心业务 ,重点论述投资银行在企业并购中的作用 ,并通过对中国宏观、微观经济环境的分析 ,提出相应的政策建议。     

外资并购的法律规制分析

在我国现有的外资并购监管方面的法律还存在诸多不足和遗憾，借鉴国际经验，立足我国实际，构建完善的外资并购监管法律体系是规范外资并购的理性选择，该体系主要应包括《外资并购法》、《外商投资企业法》、《产业法》和《反垄断法》。