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Journal of Competition Law and Economics Advance Access published online on March 26, 2008
Journal of Competition Law and Economics, doi:10.1093/joclec/nhn006
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© The Author (2008). Published by Oxford University Press. All rights reserved. For Permissions, please email: journals.permissions@oxfordjournals.org

THE IMPLEMENTATION OF THE EUROPEAN COMMISSION'S MERGER REGULATION 2004: AN EMPIRICAL ANALYSIS

Borja Martinez Fernández *, Iraj Hashi ** and Marc Jegers {dagger}

The factors influencing the European Commission's decisions under the 2004 Merger Regulation are assessed on a sample of 50 cases. Probit analysis results in the finding that the probability of nonclearance in phase I of the procedure is significantly affected by the estimated market share increase due to the proposed merger, the contestability of the market, and the presence of barriers to entry. Furthermore, there is some evidence that the Commission's decisions are biased against market leaders involved in proposed mergers.

* Staffordshire University, Stoke on Trent, United Kingdom. E-mail: bor.martinez{at}gmail.com.

** Staffordshire University, Stoke on Trent, United Kingdom. E-mail: I.Hashi{at}staffs.ac.uk.

{dagger} Vrije Universiteit Brussel, Microeconomics of the Profit and Nonprofit Sectors, Pleinlaan 2, BE-1050 Brussel, Belgium. E-mail: marc.jegers{at}vub.ac.be. We thank Jean Mangan, Geoff Pugh, and Geoffrey Williams for their help, comments, and suggestions. As usual, they cannot be held responsible for any error.


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