NDLI: Measuring the Extent of Structural Remedy in Section 7 Settlements: Was the US DOJ Successful in the 1990s?

Content Provider	Springer Nature Link
Author	Kouliavtsev, Mikhail S.
Copyright Year	2006
Abstract	This paper suggests an innovative measure of structural relief obtained in a typical Section 7 settlement. The fraction of competitive overlap subject to divestiture as a condition of the settlement is modeled as a function of merger-specific efficiencies, the proportion of the deal held “hostage” to antitrust review, the merger’s anticompetitive potential, and other factors. The model is applied to data on 86 recent Justice Department cases covering the period 1990–2003 and to the subsample of 1990s cases. All data are collected from publicly available documents only. The government is found to secure larger divestitures when the cost to the acquirer of delaying the settlement is high. The resulting estimates are used to predict several out-of-sample observations.
Starting Page	1
Ending Page	27
Page Count	27
File Format	PDF
ISSN	0889938X
Journal	Review of Industrial Organization
Volume Number	30
Issue Number	1
e-ISSN	15737160
Language	English
Publisher	Kluwer Academic Publishers-Plenum Publishers
Publisher Date	2006-10-12
Publisher Place	New York
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	merger policy U.S. Department of Justice structural remedies Microeconomics Industrial Organization
Content Type	Text
Resource Type	Article
Subject	Strategy and Management Economics and Econometrics Management of Technology and Innovation Organizational Behavior and Human Resource Management

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Measuring the Extent of Structural Remedy in Section 7 Settlements: Was the US DOJ Successful in the 1990s?