An empirical investigation of the mergers decision process in Australia

Breunig, Robert, Menezes, Flavio M. and Tan, Kelvin Jui Keng (2012) An empirical investigation of the mergers decision process in Australia. Economic Record, 88 283: 459-475. doi:10.1111/j.1475-4932.2012.00831.x

Author Breunig, Robert
Menezes, Flavio M.
Tan, Kelvin Jui Keng
Title An empirical investigation of the mergers decision process in Australia
Journal name Economic Record   Check publisher's open access policy
ISSN 0013-0249
Publication date 2012
Sub-type Article (original research)
DOI 10.1111/j.1475-4932.2012.00831.x
Volume 88
Issue 283
Start page 459
End page 475
Total pages 17
Place of publication Richmond, VIC Australia
Publisher Wiley-Blackwell Publishing Asia
Collection year 2013
Language eng
Formatted abstract
In this article, we examine a database assembled from an Australian public register of 553 merger decisions taken between March 2004 and July 2008. Mergers may be accepted without public assessment, accepted in conjunction with publication of a Public Competition Assessment, or rejected. The public register contains qualitative information about the reasons given by the regulator for each decision. We estimate an ordered probit model, using these three possible outcomes, with the objective of gaining a better insight into the regulator's decision-making process. Our two major findings are: (i) the existence of entry barriers and the existence of undertakings are highly correlated with the regulator's decision to closely scrutinise a merger proposal; and (ii) if we compare two decisions, one which does not mention entry barriers (or import competition) with a decision that does mention entry barriers (or import competition), then the latter is significantly more likely to be opposed than the former.
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ
Additional Notes Article first published online: 17 September 2012.

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2013 Collection
UQ Business School Publications
School of Economics Publications
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Citation counts: TR Web of Science Citation Count  Cited 1 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 1 times in Scopus Article | Citations
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Created: Mon, 29 Oct 2012, 16:46:54 EST by Karen Morgan on behalf of UQ Business School