The history, basic institutions and theoretical hubs of Hungarian communications market regulation

2021 ◽  
Vol 1(23) ◽  
pp. 19-40
Author(s):  
András Lapsánszky
Keyword(s):  
Public Administration ◽  
Market Power ◽  
Market Competition ◽  
Scientific Basis ◽  
Asymmetric Competition ◽  
Market Regulation ◽  
Ex Ante ◽  
Communications Management ◽  
Theoretical Issues

This study systematises and analyses one of the most important instruments of communications competition management in Hungary, “market regulation”, on the basis of public administration theory. In this context, it discusses in detail the basic theoretical issues of communications market regulation and market competition, the conceptual elements of ex ante asymmetric competition management, including the connections between general competition management and special communications competition management. The study systematises the tools of Hungarian communications market regulation, procedure types and the concept of significant market power in communications management on a scientific basis, and discusses the relevant enforcement practice in detail.

scholarly journals Does Market Power Affect Banking Dividend Policy? Evidence from Nepal

2021 ◽  
Vol 1 (4) ◽  
pp. 297-306
Author(s):  
Sahadev Bhatt
Keyword(s):  
Market Power ◽  
Banking Sector ◽  
Market Competition ◽  
Influencing Factor ◽  
Commercial Banking ◽  
Agency Conflicts ◽  
Dividend Payment ◽  
Lerner Index ◽  
Asset Growth ◽  
Structural Measure

We attempt to explain how market power impacts bank dividend payment behaviors in Nepal by taking the sample from the commercial banking sector employing a panel data regression model. Using the Lerner Index (LI), a non-structural measure of market power or lack of competition, we found that market power inversely but statistically insignificantly affect dividend payment. This finding leads us to conclude that market power-a proxy of more or less competition is not an important and influencing factor to the dividend decisions in commercial banking sectors signifying that competition does not seem helpful in mitigating agency conflicts. It is also concluded that banking dividend payouts are not the result of the punitive influence of product market antagonism. Further, among other firm-specific determinants, bank size and leverage significantly positively whereas asset growth significantly negatively affect the dividend decision. However, profitability is found insignificant determinant of dividend payment. The paper enriches and contributes to the literature on banking dividend payout and helps to identify the key factors that affect banking dividend decision-making.  Keywords : Banks, Market competition, Market power, Lerner Index, Nepal

scholarly journals Multi-criteria assessment tools for achieving balance between negotiating powers under distorted conditions of competition in construction sector’s market

2021 ◽  
Vol 129 ◽  
pp. 12003
Author(s):  
Kęstutis Peleckis
Keyword(s):  
Market Power ◽  
Market Competition ◽  
Value Added ◽  
Assessment Tools ◽  
Key Factors ◽  
Negotiation Strategy ◽  
Business Negotiation ◽  
Negotiation Strategies ◽  
Business Negotiations ◽  
Business Entities

Research background: this study identified which factors influence other factors and how they have a greater impact on the value of a business entity’s HHI index. By knowing the key factors, they can be used to model possible mergers and their impact on the HHI index and possible changes in the market power balance. Purpose of the article: to present the concept of business negotiation system, enabling to model and effectively manage the process of development and implementation of negotiation strategies, assessing the negotiating power of negotiating parties and selecting multi-criteria assessment tools to balance them in the conditions of distorted construction sector market competition. Methods: multi-criteria assessment is used to assess the market power of business entities in business negotiations in order to select effective strategic solutions for construction sector’s business negotiations. Findings & Value added: a developed algorithm for the development of construction sector’s business negotiation strategy based on evaluations of bargaining power is presented.

scholarly journals Market Concentration and Market Power / Koncentrisanost tržišta i tržišna moć

2015 ◽  
Vol 5 (5) ◽  
pp. 228
Author(s):  
Aleksandar Bogojević
Keyword(s):  
Adverse Effects ◽  
Market Power ◽  
Economic Efficiency ◽  
Free Market ◽  
Market Competition ◽  
Well Being ◽  
Market Concentration ◽  
Relevant Market ◽  
Market Structures ◽  
Market Participants

Contemporary directions of the market liberalization should lead to a bigger number of market participants and to a bigger degree of competition among them. This again, leads to a more diversified offer and to bigger quality products along with higher level of services with cheaper rates. In order to control the mentioned processes, analysis of market concentration is needed, as well as studying and perfection of the methods that allow measurement of market concentration. The degree of market concentration which on a specific market one or more economic subjects have is defined as ‘’market power’’. Economic efficiency on a specific market largely depends on whether non competitive market structures which produce adverse effects on economic efficiency are existent on that market, which ultimately affects on the overall well – being. Conversance of the degree of concentration of a specific (relevant) market is important so that breaching of the market principles can be timely spotted and so that appropriate measures can be taken. Supervision over the market and the market processes, as well as appliance of specific measuring methods of market concentration have the goal of establishing and maintenance of free market competition in which all of the economic subjects participate under the same conditions.

COMPETITION-STABILITY RELATIONSHIP IN DUAL BANKING SYSTEMS: EVIDENCE FROM EFFICIENCY-ADJUSTED MARKET POWER

2021 ◽  
pp. 1-24
Author(s):  
MUDEER AHMED KHATTAK ◽  
OMAR ALAEDDIN ◽  
MOUTAZ ABOJEIB
Keyword(s):  
Market Power ◽  
Financial Stability ◽  
Banking Sector ◽  
Market Competition ◽  
Policy Implications ◽  
Islamic Banks ◽  
Banking Competition ◽  
Precise Measure ◽  
Conventional Banks ◽  
The Impact

This research attempts to explore the impact of banking competition on financial stability employing a more precise measure of market power. It was found that Islamic banks are less stable and are enjoying lower market power. The analysis shows that higher market competition makes the banking sector vulnerable to defaults, supporting the “competition-fragility view”. This research finds no difference in the relationship for Islamic banks indicates that Islamic banks might be involved in traditional banking activities as conventional banks. The results are consistent and robust to different estimation approaches and subsamples. This research carries regulatory and policy implications.

scholarly journals Wettbewerb im Internet: Was ist online anders als offline?

2011 ◽  
Vol 60 (2) ◽  
Author(s):  
Justus Haucap ◽  
Tobias Wenzel
Keyword(s):  
Market Power ◽  
Network Effects ◽  
Economies Of Scale ◽  
Market Concentration ◽  
The Internet ◽  
General Tendency ◽  
Market Regulation ◽  
Barriers To Entry ◽  
Online Content ◽  
Indirect Network Effects

AbstractThe Internet is characterized by competition between platforms which bring together potential partners of exchange. The degree of competition between these multi-sided platforms und market concentration are determined through (1) the strength of the direct and indirect network effects, (2) the extent of economies of scale, (3) the risk of congestition, (4) platform differentiation, and (5) the possibility of multi-homing. Depending on these factors different market concentrations and barriers to entry result. While there is no general tendency for concentration in the Internet and no general need for special market regulation of online content providers and intermediaries, single platforms may still have long lasting and significant market power which is unlikely to erode fastly, as the example of ebay illustrates.

scholarly journals Structure, market power, and profitability: evidence from the banking sector in Latin America

2021 ◽  
Vol 32 (85) ◽  
pp. 126-142
Author(s):  
Cristiano Hordones ◽  
Antonio Zoratto Sanvicente
Keyword(s):  
Latin America ◽  
Interest Rates ◽  
Market Structure ◽  
Market Power ◽  
Banking Sector ◽  
Banking Industry ◽  
Scientific Basis ◽  
Performance Model ◽  
Panel Data Regression ◽  
Banking Market

ABSTRACT The aim of this paper is to evaluate the influence of market structure on the competition between banks and to determine whether competition affects their profitability in different countries in Latin America. The study also seeks to compare, between 16 countries in the continent, the levels of concentration, competition, and profitability of the respective banking sectors. This article fills the research gap regarding the structure and market power of banks in emerging countries, by comparing Brazil with the other countries in the continent. The topic is extremely important at a time of debate about the high interest rates in Brazil, the market structure observed, and the alleged effect of this on the high levels of spread between lending and borrowing rates. The research provides evidence for the debate regarding the structure of the banking industry. To evaluate competition, the Panzar-Rosse model was used. Concentration was measured by the Herfindahl-Hirschman index and CR5 ratio. To verify the link between the variables, the hypotheses of the structure-conduct-performance model were tested, via a sample of 16 countries in Latin America, covering the period from 2011 to 2017, using panel data regression. This study, conducted for the banking industry in Latin America, rejected the premises of the structure-conduct-performance (SCP) model, which affirm that concentration reduces competition, causing higher profitability in the sector. In the comparison of the studied variables between the countries in the continent, Brazil presented the lowest competition index. The concentration and profitability assessments, in turn, presented results in line with the mean. The results of the research serve to elucidate the intense debate regarding the structure of the banking market. Moreover, they serve as a scientific basis for regulators’ actions, aiming to incentivize competition and reduce bank spread.

Market power and R&D investment: the case of China

2021 ◽  
Author(s):  
Xiaohua Sun ◽  
Fang Yuan ◽  
Yun Wang
Keyword(s):  
Market Power ◽  
Small Firms ◽  
Market Competition ◽  
Industry Concentration ◽  
Alternative View ◽  
Large Firms ◽  
Industry Level ◽  
Depth Analysis ◽  
The Impact ◽  
D Investment

Abstract This article presents an in-depth analysis of market power and its impact on firm research and development (R&D) investment in China. Two opposing theories have been proposed in the literature. The first, due to Schumpeter, suggests that monopoly power has a positive effect on firms’ propensity to innovate hence their investment in R&D. The alternative view, first proposed by Arrow, suggests that firms invest in R&D in order to escape competition, and thus market competition stimulates innovation. In testing these theories, prior studies have measured market power in different ways. Some use the so-called Lerner index, which measures the profit margin of a particular firm. Others use measures of industry concentration, for example, the Herfindahl index. This article tests the competing theories using a sample of 300,095 Chinese manufacturing firms in 29 two-digit manufacturing industries. We unify the two measures of market power, using a hierarchical linear model, to determine whether industry-level measures add power to specifications based on firm-level markups alone. We find, first, that firms are less likely to carry out R&D activities as their market power intensifies. The effect is nonlinear: firms with higher markups spend even less on R&D than a linear specification predicts. This finding supports Arrow’s theory and contradicts Schumpeter’s theory. Second, for the sample as a whole, the impact of industry-level concentration is negligible. However, when we break the sample into large, medium, and small firms, industry concentration has a significant effect on large and medium-sized firms but no impact on small firms. Thus, large firms with high markups in concentrated industries spend less on R&D than large firms with high markups in less concentrated industries. We interpret this as further evidence in support of the escape competition theory: less concentrated industries are more competitive, forcing the leaders to invest more heavily on R&D.

Ex-ante evaluation and optimal mitigation of market power in electricity markets including renewable energy resources

2016 ◽  
Vol 10 (8) ◽  
pp. 1842-1852 ◽  
Author(s):  
Miadreza Shafie-khah ◽  
Mohsen Parsa Moghaddam ◽  
Mohammad Kazem Sheikh-El-Eslami
Keyword(s):  
Renewable Energy ◽  
Market Power ◽  
Electricity Markets ◽  
Energy Resources ◽  
Renewable Energy Resources ◽  
Ex Ante
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