Using Stock Market Evidence to Inform the Definition of Product Markets in Competition Law

2010 ◽  
Author(s):  
Paul A. Grout ◽  
Frank Windmeijer ◽  
Anna Zalewska
Keyword(s):  
Stock Market ◽  
Competition Law ◽  
Product Markets ◽  
Definition Of

scholarly journals Financial centers of new industrial countries in the world financial architecture

2021 ◽  
Vol 70 (3) ◽  
pp. 188-199
Author(s):  
M. Savchenko ◽  
L. Tsybrii
Keyword(s):  
Hong Kong ◽  
Exchange Rate ◽  
Stock Market ◽  
Open Economy ◽  
Social Progress ◽  
Financial Architecture ◽  
The World ◽  
Financial Center ◽  
Definition Of ◽  
International Financial Center

The views of scholars concerning the definition of «international financial center», which makes it possible to formulate the definition of international financial center essence are summarized in this paper. The factors influencing the formation of international financial center incluing: stable financial system, stable currency, exchange rate stability, political and social stability in the country, favorable geographical location, developed financial infrastructure, open economy for free movement of capital, etc. are identified. The role of international financial centers in increasing their global competitiveness, achieving higher levels of economic growth, prosperity and social progress is substantiated. The classification of international financial centers is investigated. The place of the Hong Kong Financial Center in the financial architecture of the world is determined. The main parameters of the current state of the Hong Kong Financial Center: the USD / HKD exchange rate, the effective exchange rate index weighted by trade, the Hang Seng index, market capitalization, etc. are diagnosed. SWOT-analysis of the Hong Kong Financia Cente is carried out in order to identify its strengths, weaknesses, opportunities and threats. Based on the results of the problem of its functioning, a set of measures to improve competitiveness is also proposed. Hong Kong has favorable macroeconomic and institutional environment, qualified personnel, and is the fifth most competitive international financial center in the world. However, there is a low degree of international element in the domestic stock market, there is also risk of losing the status of «international financial center», other regional economies that have greater access to international investment opportunities in the stock market, such as Singapore, may be a threat. The financial center should focus on overcoming the effects of the coronavirus, promote the share of foreign investment in the economy, take a set of measures to overcome the country's recession, review legal, regulatory and tax requirements to promote development, improve quality of life and attractiveness, and become Asia's leading currency hub.

scholarly journals Application of the concept of collective dominance in the Russian competition law: challenges and solutions

2020 ◽  
Vol 210 ◽  
pp. 13030
Author(s):  
Igor Bashlakov-Nikolaev ◽  
Sergey Maximov
Keyword(s):  
Law Enforcement ◽  
Competition Law ◽  
Legal Regulation ◽  
Formal Approach ◽  
The Law ◽  
Definition Of ◽  
Statutory Regulation ◽  
Collective Dominance

The Russian competition law does not include the definition of the concept of collective dominance, and the notion of this institution itself contains many gaps. The indicated disadvantages of statutory regulation and simplified approaches of the Federal Antimonopoly Service, which became possible due to the formal approach, have led to the formation of controversial law enforcement practice by the antimonopoly authority and courts. The article presents the analysis of legal regulation, as well as the law enforcement practice, and proposition on solutions to the stated problems.

The Foundations of European Union Competition Law

2011 ◽  
Author(s):  
Nazzini Renato
Keyword(s):  
Interdisciplinary Approach ◽  
Competition Law ◽  
Consumer Welfare ◽  
Case Law ◽  
Analytical Framework ◽  
Dominant Position ◽  
Eu Competition Law ◽  
The Common ◽  
Definition Of ◽  
Union Competition

Article 102 of the TFEU prohibits the abuse of a dominant position as incompatible with the common market. Its application in practice has been wide-ranging with goals as diverse as the preservation of an undistorted competitive process, the protection of economic freedom, the maximisation of consumer welfare, total welfare, or economic efficiency all cited as possible or desirable objectives. These conflicting aims have raised complex, conceptual questions such as how a dominant position should be defined, and how abuses can be assessed. This book addresses the conceptual questions underlying the test to be applied under Article 102 in light of the objectives of EU competition law. Adopting a comparative and interdisciplinary approach, the book covers all the main issues relating to Article 102, including the definition of dominance, the taxonomy of abuses, and the criteria for the assessment of individual abusive practices. It provides an in-depth doctrinal and normative commentary of the case law with the aim of establishing an intellectually robust and practically workable analytical framework for abuse of dominance.

What is It? Competition Law’s Veiled Identity

2020 ◽  
pp. 11-16
Author(s):  
David J. Gerber
Keyword(s):  
Economic Efficiency ◽  
Competition Law ◽  
Main Theme ◽  
Competition Laws ◽  
Definition Of ◽  
Legal Mechanism

Both domestic factors and transnational influences shape competition laws, so there are many versions of competition law. In part for this reason, competition law is also often misunderstood. Some see it as a technical domain concerned only with economic efficiency. For others it is a tool for supporting fairness and openness in an economy. There are also those who view it as a legal mechanism to be used more broadly for social, political, and privacy goals. These variations and misunderstandings are barriers to understanding and communication. This chapter notes the veils that obscure competition law and distort perceptions of it. It then penetrates these veils by identifying the basic problems that all competition laws address, providing a definition of competition law that can apply to all competition laws, and outlining variations on the main theme. This provides a base that can provide insights into competition law and facilitate communication about it, especially across borders.

Legal Aspects of Defining Market’ Boundaries where Digital Platforms’ Owners Participate: Amex Case

2021 ◽  
pp. 88-97
Author(s):  
A. O. Maslov
Keyword(s):  
Supreme Court ◽  
Competition Law ◽  
Legal Aspects ◽  
Product Markets ◽  
Digital Platforms ◽  
Doing Business ◽  
The Us ◽  
Us Supreme Court ◽  
The World

Year by year, digital platforms are becoming more popular in doing business. At the same time antitrust regulators around all the world face with challenges in analyzing the market boundaries where digital platforms’ owners participate.The article examines legal aspects of determining product and geographical boundariesof markets where digital platforms’ owners operate.The article deals with Amex case in which The US Supreme Court held that boundaries of the market where two-sided transactional digital platforms’ owners operate should be determined by the transaction. No doubt, this approach is debatable and the fact that the Court issued 5—4 decision proves that.The article also deals with approaches in competition law doctrine to defining the boundaries of product markets in which the owners of digital platforms are involved.

Internetsuchmaschinen in der unionskartellrechtlichen Missbrauchskontrolle

2020 ◽  
Author(s):  
Sarah Zinndorf
Keyword(s):  
Vertical Integration ◽  
Network Effects ◽  
Competition Law ◽  
The Internet ◽  
Preferential Treatment ◽  
Economic Dynamic ◽  
Internet Search Engine ◽  
Internet Economy ◽  
Abusive Behaviour ◽  
Definition Of

This work deals with one of the central questions with regard to the application of competition law to markets of the internet economy: To what extent can the prohibition of the abuse of market power according to Art. 102 TFEU be applied to innovative markets like the internet search engine market? The challenges which the law faces in this context due to the special economic dynamic have not yet been thoroughly analysed. The study sheds light on the definition of the relevant markets and the important economic characteristics (indirect positive network effects in particular). On this basis, the work focuses on the preferential treatment of proprietary services and content (vertical integration) as potential abusive behaviour with reference to the essential facilities doctrine and unlawful tying.

Zum so genannten freien Wettbewerb und dem vermeintlichen Verbot vertikaler Kartelle im EU-Wettbewerbsrecht

2011 ◽  
Vol 60 (3) ◽  
Author(s):  
Felix Fuders
Keyword(s):  
Competition Law ◽  
Free Competition ◽  
Eu Competition Law ◽  
Definition Of ◽  
The Relationship ◽  
Freiburg School

AbstractAlthough a lot has been philosophised about the relationship between competition and freedom, especially in the Freiburg School of Economics, there is still no universal or generally accepted definition of so-called free competition. The article attempts to find such a definition based on the Kantian notion of freedom. The definition found then seems to make necessary a new assessment of the prohibition of vertical agreements in EU competition law.

scholarly journals ON THE TESTING MULTI-VALUED MARTINGALE DIFFERENCE HYPOTHESIS

2018 ◽  
Vol 34 (3) ◽  
pp. 233-248
Author(s):  
Lục Trí Tuyên
Keyword(s):  
Spectral Analysis ◽  
Exchange Rate ◽  
Stock Market ◽  
Financial Data ◽  
Nonlinear Dependence ◽  
Martingale Difference ◽  
Rate Data ◽  
Statistical Tools ◽  
Definition Of ◽  
Castaing Representation

This paper presents a definition of Multi-Valued Martingale Difference (MVMD) based on Castaing representation of a multi-valued martingale that consists of martingale difference selections. Testing the Multi-Valued Martingale Difference Hypothesis (MVMDH) then examined. Testing the Martingale Difference Hypothesis (MDH) earlier was based on linear measures then later developed  two directions in order to account for the existing nonlinearity in economic and financial data. First, the classical approaches have been modified by take into account the possible nonlinear dependence. Second, the use of more sophisticated statistical tools such as those based generalized spectral analysis. According to this article, both these developments in MDH are modified for MVMDH and applies them to exchange rate data and returns of stock market data.

Sign in / Sign up

Export Citation Format

Share Document