20世纪90年代以来的合并控制理论探析

为了适应 20世纪 90年代以来并购活动的日益增长,规制者运用“革新市场”和“单方效果”来支持积极的反托拉斯执法活动。“革新市场”理论通过对一个合并对相关市场上的研究和发展的影响来评估技术领先企业之间的合并。“单方效果”理论根据合并企业独自对相关市场上价格产生影响的能力来评估一个合并。

A Critique of Anti-Merger Theories From 1990s

Regulators are adopting some new theories such as “ innovation of markets” and “unilateral effect” to support activists’ in antitrust enforcement movement, in view of the fact that mergers have clearly increased since 1990s. “Innovation of markets” analysis deals with the mergers between technologically advanced firms based on the impact of a merger upon the research and development of the relevant market, while “unilateral effect” analysis evaluates a merger based on the ability of a single merged firm to influence the price of the relevant market. This paper holds that neither is analytically different from the SCP approach on the basis of analysis, which seems to be a challenge to the anti-merger theories.