An empirical analysis of Canadian merger policy

Article Abstract:

An ordered probit analysis of horizontal mergers in Canada in the period since adoption of the Competition Act of 1986 indicates decisions of the Director of Investigation and Research to have applied provisions of the law consistently and in accord with principles of modern industrial organization economics. The law's merger provisions permit a certain leeway for the Director in making decisions, and mandate consideration of a number of economic factors in decision making. The analysis finds the most important factors to have been market share and concentration, with import competition and barriers also important in decision outcomes.

Admin. of general economic programs, Industry regulations, Government regulation of business, Trade regulation

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Corporate contracting around defective regulations: the Daimler-Chrysler case

Article Abstract:

Regulation is seen as a way to correct imperfections in the market, but laws may become outdated, or may be inefficient. Competition between regulators could help tackle this problem, and there is scope for self-correction. There are a number of lessons to be drawn from the merger between Daimler-Benz and Chrysler, which illustrate issues relating to regulation. The merger was not carried out in the cheapest way possible, and regulations influenced the structure that was chosen.

Motor vehicles and car bodies, Automobiles, Automobile Manufacturing, Mergers, acquisitions and divestments, Automobile industry, Daimler-Benz AG, Chrysler Corp., C

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The managerial, regulatory, and financial determinants of bank merger premiums

Article Abstract:

A study was conducted to evaluate the economic determinants which condition bank merger premiums. The study focuses on financial, regulatory and managerial variables which influence such premiums and considers the financial nature of target banks and their market franchise values. Results show that merger premiums are conditioned by both acquirer and target bank characteristics and also by the regulations of both banks' states.

Banking industry, Bank mergers

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