Lead Jurisdiction Concepts: Prospects and Limits for Rationalizing International Competition Policy Enforcement

2017 ◽  
Vol 18 (2) ◽  
pp. 20160025 ◽  
Author(s):  
Oliver Budzinski
Keyword(s):  
Mergers And Acquisitions ◽  
Competition Policy ◽  
Economic Benefits ◽  
International Competition ◽  
Policy Enforcement ◽  
Policy Regimes ◽  
Cross Border ◽  
Interagency Cooperation ◽  
One Stop ◽  
International Antitrust

Lead jurisdiction models represent one option how to extend and enhance contemporary interagency cooperation among competition policy regimes. They constitute a multilateral, case-related form of cooperation that is suited to effectively create a one-stop-shop for the prosecution of international cartels, the handling of cross-border mergers and acquisitions and the governance of international antitrust cases. Thus, lead jurisdiction models offer considerable economic benefits. However, they also entail several caveats. Three possible working problems and downside effects of lead jurisdiction models in international competition policy enforcement are discussed in this paper.

International Antitrust: Demand, Restrictionsand Lessons for Customs Union

2012 ◽  
pp. 110-125 ◽  
Author(s):  
S. Avdasheva ◽  
A. Shastitko
Keyword(s):  
Competition Policy ◽  
Good Alternative ◽  
International Competition ◽  
The Other ◽  
Customs Union ◽  
Effective Competition ◽  
Market Participants ◽  
Competition Rules ◽  
The One ◽  
International Antitrust

Enforcement of antitrust rules on the international level, on the one hand, is necessary to deter restriction of competition by the largest market participants, on the other - it suffers from the contradictions between incentives of national players. That is why international competition policy is based on institutional alternatives which look very imperfect. Harmonization of competition rules seems to be a good alternative only at first glance, since transplantation of antitrust provisions in different legal systems with different standards of proofs and different enforcement practices de facto leads to modification of the rule. Effective competition policy at the level of Customs Union requires to take into account all these limitations and risks.

Cross-border mergers and acquisitions: the implications for labour

1999 ◽  
Vol 5 (3) ◽  
pp. 320-343 ◽  
Author(s):  
Tony Edwards
Keyword(s):  
Corporate Governance ◽  
Mergers And Acquisitions ◽  
International Competition ◽  
International Acquisitions ◽  
Anglo Saxon ◽  
Merger Activity ◽  
Fourfold Increase ◽  
Cross Border ◽  
Cost Minimisation ◽  
The Subject

Recent years have witnessed a rapid growth in mergers and acquisitions between companies based in different countries. Estimates suggest that the value of cross-border mergers and acquisitions amounted to $342 billion in 1997, a fourfold increase in six years, For employees and their representatives three distinct effects of this international merger activity can be identified: first, a general ‘acquisition’ effect which is common to all mergers, not just those that are cross-border in nature; second, a ‘multinational’ effect in which mergers increase the extent to which the acquired operations are subject to international competition; and, third, a ‘nationality’ effect which arises from differences by country in the way that firms are governed and financed. The nationality effect is the subject of this paper. It is argued that takeovers by Anglo-Saxon multinationals pose significant challenges to employees and their representatives, primarily because the system of corporate governance in Anglo-Saxon countries pressurises management into a ‘cost-minimisation’ approach to managing labour. This Anglo-Saxon aspect of the nationality effect is likely to be widespread, mainly because most international acquisitions are undertaken by Anglo-Saxon multinationals but also because the purchase of firms in Britain and America is a key mechanism through which European multinationals are undergoing a process of ‘Anglo-Saxonisation’.

Relationship between Cross-Border Mergers and Acquisitions and International Trade: The Case of Russian Pharmaceutical Industry

2020 ◽  
pp. 81-94
Author(s):  
Alexandra V. Chugunova ◽  
Olga A. Klochko
Keyword(s):  
International Trade ◽  
Mergers And Acquisitions ◽  
Volume Growth ◽  
Pharmaceutical Products ◽  
Pharmaceutical Companies ◽  
Cross Border ◽  
Export Volume ◽  
Relationship Of ◽  
Geographical Diversification ◽  
The Relationship

This research studies the relationship of cross-border mergers and acquisitions to international trade through the lens of Russian pharmaceutical market. To this aim, the study analyses the woks of foreign economists dedicated to evaluating the link between foreign direct investment and international trade, and the influence of mergers and acquisitions on countries’ export and import flows. The research also presents a correlation analysis between the volume of Russian pharmaceutical exports and imports and cross-border deals performed by foreign pharmaceutical companies in Russia. We characterize these deals and conduct a comparative analysis of the regional structure of Russian pharmaceutical exports and imports as well as of the countries of origin of buyers in cross-border mergers and acquisitions. The results of the analysis indicate a positive relationship between cross-border mergers and acquisitions and Russian pharmaceutical exports, which is reflected in the export volume growth and its geographical diversification. However, it is outlined that particular problems of the industry hinder the amelioration of Russian positions in international exports. Similarly, the relationship between cross-border deals and Russian imports is positive: the major pharmaceutical products supply flow occurs from the countries of origin of buyers in cross-border mergers and acquisitions conducted in the Russian pharmaceutical sector.

Foreign Direct Investment

2017 ◽  
Author(s):  
Yilmaz Akyüz
Keyword(s):  
Foreign Direct Investment ◽  
Mergers And Acquisitions ◽  
Financial Markets ◽  
Foreign Exchange ◽  
Direct Investment ◽  
Balance Of Payments ◽  
Productive Capacity ◽  
Cross Border ◽  
Direct Contribution ◽  
High Profit

Recent years have also seen increased openness of EDEs to foreign direct investment (FDI) in search for faster growth and greater stability. However, FDI is one of the most ambiguous and least understood concepts in international economics. Common debate is confounded by several myths regarding its nature and impact. It is often portrayed as a stable, cross-border flow of capital that adds to productive capacity and meets foreign exchange shortfalls. However, the reality is far more complex. FDI does not always involve inflows of financial or real capital. Greenfield investment, unlike mergers and acquisitions, makes a direct contribution to productive capacity, but can crowd out domestic investors. FDI can induce significant instability in currency and financial markets. Its immediate contribution to balance-of-payments may be positive, but its longer-term impact is often negative because of high-profit remittances and import contents.

Cross-border mergers and acquisitions for innovation

2021 ◽  
Vol 112 ◽  
pp. 102320
Author(s):  
Po-Hsuan Hsu ◽  
Peng Huang ◽  
Mark Humphery-Jenner ◽  
Ronan Powell
Keyword(s):  
Mergers And Acquisitions ◽  
Cross Border
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