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Competition and Antitrust Law: Conglomerate Mergers, 2006.
An evaluation of the European Commission treatment of the anti-competitive effects of conglomerate mergers.
2,228 words (approx. 8.9 pages), 17 sources, APA, $ 69.95
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Abstract
Whilst the US.authorities have expressly concluded that anti-trust should rarely, if at all, interfere in the taking place of conglomerate mergers, the European Commission (EC) has, in contrast, become increasingly concerned with the 'conglomerate effects' of mergers, in a number of its relatively recent decisions. This paper discusses the potential anti-competitive effects that can result from such mergers, and then subsequently focuses on two key E.C. decisions - GE/Honeywell and Tetra Laval/Sidel for the main analysis, with relevant comparison between E.C. and U.S. perspectives.
Outline
Abstract
Anti-Competitive Effects Resulting From Conglomerate Mergers
The GE/Honeywell Saga
Tetra Laval/Sidel
Conclusion
From the Paper
"The issue of 'efficiencies' represented a major point of divergence in the EC and US attitudes towards the potential effects of the merger and was a theme which ran through the core of many of the individual points and arguments made. Efficiency is considered to be the "ultimate goal" of US ant-trust policy , with the purpose of the Sherman Act and other competition laws being to "protect competition, not competitors" . The EC's decision in GE/Honeywell was thus heavily criticised for, as far as the US authorities perceived it, actually blocking the merger because it would give rise to efficiencies, such as lower capital costs and cheaper prices, which Honeywell's rivals would be unable to compete with."
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Sports and Antitrust Law, 2004.
Reviews U.S. antitrust laws and how these laws can apply to the ability or inability of a person who wants to begin a professional football career.
4,271 words (approx. 17.1 pages), 14 sources, APA, $ 113.95
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Abstract
This paper reviews a court case brought against the National Football League (NFL) by a player arguing that NFL rules regarding eligibility to enter the league are conspiratorial against his ability to earn a living. The paper explains, in detail, the history and purpose of antitrust laws and the logic behind the judge's decision in the case, which declared that the NFL is indeed in violation of antitrust legislation because of the qualifications it required of players to enter the game. The paper also presents the legal position of the NFL and, in the conclusion, offers reasons why the author agrees with their position as well.
Research Problem Statement
Is the National Football League's Requirements to Enter the Draft a
Violation of Antitrust Law? If So Why? Why Does the NFL Think It Is Not a Violation?
Defining the Antitrust Legislation
Sherman Antitrust Legislation
Clayton Antitrust amendment
Presidential Support
The Maurice Clarett Case
The NFL?s Position
The Effect on the Game
Judge Scheinin?s Decision
Literature Review
Definition of Terms
Sherman Anti-Trust Act
Clayton Act
Basis of Judge Shira Scheinin's Decision
Other Cases
Haywood vs. National Basketball Association, 401 U.S. 1204 (1971)
Impact of Case on the League
Players Straight out of High School who Have Been Successful
Kobe Bryant
Labron James
Unsuccessful Players
The Risk to the Kids who Leave Early
Will an 18 Year Old Be Physically Tough Enough
Summary and Conclusion
From the Paper
"It is hard to conceive how these laws apply to the ability, or inability of a person who wants to enter a professional football career, but the recent court case brought by Maurice Clarett against the NFL charged that their rules regarding eligibility to enter the league are conspiratorial against his ability to earn a living. The NFL has placed age requirements on individuals. The want to make sure that a person who applies to for the job of a football player in the NFL will have developed the talent, as well as physical and emotional maturity to be qualified for the game. None the less this recent court action by Judge Shira Scheindin has declared that the NFL is in violation of antitrust legislation because of the qualifications it required of players to enter the game."
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Antitrust Laws and the US Market, 2000.
A look at the debate over antitrust laws.
1,675 words (approx. 6.7 pages), 5 sources, $ 54.95
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Abstract
This paper looks at the US debate over antitrust laws. Disagreements over antitrust policy range in scope from a consideration of the effectiveness of a specific policy to whether or not the entire model on which our laws are based is flawed at the core. Here an attempt is not made to give full answers to any of those questions. Instead, some examples are considered to help clarify the debate. Specifically, the competition in our free-market economy is considered, with some examples of specific policies in this area, and an example that illustrates differing opinions of the success or failure of the goals of those policies.
From the Paper
"The single most frequently used word that one will encounter in researching almost any economic topic is ?competition?. This word can be defined in the economic sense as ?a market situation characterized by a sufficiently large number of buyers and sellers so that no single buyer or seller can influence prices or quantities sold or bought in the market?. The model of ?pure competition? is, of course, illustrated by the horizontal demand curve of the firm versus the downward sloping demand curve of the industry. The fact that each firm is a price-taker and various other requirements, such as perfect knowledge and homogeneous products, exist in this model."
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Anti-Trust, Mergers and Competition Policy, 2005.
An overview of anti-trust legislation, public policies and the need for national champions.
6,388 words (approx. 25.6 pages), 18 sources, APA, $ 148.95
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Abstract
Is the current body of U.S. anti-trust law good public policy? This paper describes the roots and the current status of antitrust legislation in the U.S. with special mentioning of the Puerto Rican situation. It also covers the economic reasoning of antitrust in the light of per se unfair practices and business justification. Then, it moves on to give an overview of international antitrust regimes, namely EU, Germany, China and Brazil. It then discusses the call for loosening the law to create national champions that can compete on an international level.
Paper Outline:
Introduction
History of Antitrust Law
Public Policy Goals of Antitrust Legislation
Overview of The Economics of Antitrust
The Law: Per Se Deceptive and Unfair Business Practices and "Rule of Reason
Agencies
Consequences
International Perspective
Public Policy Discussion: The Need for National Champions?
From the Paper
"In a concentrated market, with only a few firms, the danger is that they may find it easier to lessen competition by colluding. For example, they may agree on the prices they will charge consumers. The collusion could be in (i) an explicit agreement, or in a more subtle form known as (ii) tacit coordination or coordinated interaction . Accordingly, some cases are easier than others. The courts decided many years ago that certain practices, such as price fixing, are so inherently harmful to consumers that a detailed examination is not necessary to determine whether they are reasonable. The law presumes that they are violations - so-called per se violations - and condemns them almost automatically. Other practices demand closer scrutiny based on principles that the courts and antitrust agencies have developed. These cases are examined under a "rule of reason" analysis."
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Mergers and Acquisitions, 2006.
This paper discusses mergers and acquisitions, the competitive strategy that undertake for a variety of reasons.
1,125 words (approx. 4.5 pages), 2 sources, $ 44.95
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Abstract
This paper discusses mergers and acquisitions (M&A) and how they are financed. In particular, the paper looks at how they are financed through stock swaps, cash and stock, and leveraged buyouts as well as hostile takeovers. The Sears-Kmart merger is used as an illustrative example of M&A activity while risk mitigation is included as the conclusion of the document. Cross border M&A activity is considered the most risky form of M&A.
From the Paper
"From one perspective they are viewed as an excellent way to achieve growth and market share without extensive resources dedicated to organically growing the enterprise, while on the other hand they can also be viewed as a competitive strategy to remove a market threat (Mastracchio & Zunitch, 2002). In any event, M&A has come to be associated with a specific category of corporate finance and management that involves either merging two companies into one or in an outright purchase of another company. In either case, M&A requires extensive due diligence that involves extreme examination of the each company's accounting records and financial reports in an effort to avoid any liability concerns following the M&A activity."
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Competition in Canada's Economy, 2002.
The role of the Competition Bureau in regulating mergers and corporate concentration in Canada's economy.
2,400 words (approx. 9.6 pages), 7 sources, $ 89.95
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Abstract
This paper discusses the role of the Competition Bureau in regulating mergers and corporate concentration in Canada's economy. The paper discusses the importance of considering the economy that the Bureau is operating in. Mergers and corporate acquisitions have become prevalent but is this all bad, if it means a company staving off bankruptcy. Other surrounding issues are addressed as well as looking at real examples in the past decade addressing this topic.
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International Competition Policy, 2004.
Analysis of global competition issues and government responses and the impact it all has on businesses and consumers worldwide.
12,039 words (approx. 48.2 pages), 41 sources, APA, $ 233.95
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Abstract
This paper begins with a look at the evolution of international competition policy, then focuses on the promotion of competition in worldwide markets and the role of inter-government cooperation in setting the policy environment for better and more productive, as well as fair, competition. It examines efforts being made to address the perceived risk that the conduct of some private businesses may reduce competition and potentially undermine government actions to promote competition (e.g., trade liberalization and deregulation). It includes a look at the adoption of both EU-level and national-level competition laws, which target anti-competitive business conduct resulting largely from US advocacy, and the importance attached to competition law in the context of EU membership. Finally, the potential role of the WTO is discussed.
Evolution of International Competition Policy
Promotion of Competition in World Markets
Role of Inter-Governmental Cooperation in Setting Policy
Private Business Practices That Reduce Competition
National vs. EU-Level Competition Laws
Role of the WTO
From the Paper
"Economic interdependence among countries across the globe has increased sharply in the past fifty years. This international economic interdependence has made vast contributions to greatly improved standards of living for most countries. Ongoing international economic integration bears the promise of further and larger benefits. However, the increasing sensitivity of national economies to events and policies that originate beyond their borders creates dilemmas and pitfalls that may prove to be disastrous if national policies and international cooperation are less than well managed."
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Monopolies and Mergers, 2004.
This paper discusses that monopolies and mergers are different, but they have many similarities in their negative effect on competition, pricing, suppliers, product quality, innovation, and the general economy.
3,165 words (approx. 12.7 pages), 9 sources, APA, $ 91.95
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Abstract
This paper explains that a monopoly is a situation within a given market where there is a single supplier of a good or service; a merger is the union of two or more corporations or commercial interests. The author points out that a major ethical concern about both monopolies and mergers is the forced manner in which they conduct business with suppliers. In both cases, the firms have enough buying power to force producers to sell components or goods at a lower margin, as in the case of Wal-Mart. The paper relates that the anticompetitive atmosphere in both monopolies and mergers can lead to a stagnant market because there is little marketplace incentive for innovation and advancement.
From the Paper
"Again, how drastically competition is affected by a merger is dependant on the type of merger. In a horizontal merger, the acquisition of competitors often leaves the market concentration far higher for the merged company, and may even completely eliminate competition in the area of the merger. In a vertical merger, competition can be drastically affected by the merged company?s ability to reduce or even eliminate the competitor?s access to an important component or channel of distribution for the product. This ?vertical foreclosure? can cause competitors to be unable to continue their business. Finally, the potential-competition merger is perhaps the most dangerous for competition. In this merger, not only is the large firm eliminating their smaller competitors, but they are also contributing to the idea that any future potential competitor will also be forced to merge. The merged company thwarts competition through the threat of a forced merger."
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Mega-Mergers, 2004.
An extensive analysis on the merger and acquisition phenomenon in the financial services industry.
7,864 words (approx. 31.5 pages), 37 sources, MLA, $ 170.95
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Abstract
This study, while focusing on mega-mergers, examines the merger and acquisition phenomenon and proposes an explanation for the same. This research evaluates why stakeholders support mergers when the post mortem data suggest that most mergers are failures. Where applicable, the paper points to other industries that have parallel issues to the financial industry but the financial services industry seems to be ahead in the merger mania.
Table of Contents
CHAPTER ONE - Introduction
Statement of the Problem
Hypotheses
Purpose of the Study
CHAPTER TWO - Literature Review
Mergers on the Rise
Is There Actually a Problem?
Why We Undertake Mergers
Globalization
Deregulation
Technological Changes
Scale Economies
Mega-Mergers
Bank Mergers and Acquisitions
What Can Make Mergers Fail
What Happens When Mergers Fail
Definition of Terms
CHAPTER THREE - Methodology
Data Gathering Method
Limitations and Validity Issues
Validity of Data
Originality and Limitation of Data
References
From the Paper
"For various reasons, continuous growth is esteemed a desirable goal by company decision-makers. It seems to be very nearly a universal law that biological life begins to end when an organism's period of growth ends; it's all downhill from there. It follows that continuous growth will ensure a firm's eternal life. In other words, no firm can succumb to countervailing forces if it is always growing. Whether this is actually true is debatable; however, it seems true, and this is what makes it an important motivator for management. Growth itself can be undertaken not only for its own sake (the company should always be growing, no matter what) but also to solve certain business problems."
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"On Competition", 2001.
This paper analyzes Michael E. Porter?s view of the business world as outlined in "On Competition", a collection of his works that examines the Hobbesian nature of the international economy.
3,580 words (approx. 14.3 pages), 4 sources, MLA, $ 100.95
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Abstract
This paper analyzes Michael E. Porter?s book "On Competition", a collection of his works that details the international economy. Porter's work has defined our fundamental understanding of competition and competitive strategy. His book is organized around three primary categories: Competition and Strategy: Core Concepts, The Competitiveness of Location, and Competitive Solutions to Societal Problems.The first section of the essay collection takes on competitive strategy, evaluating strategies and weaknesses for business, while the second addresses the role of location in competition experienced by government entities. Porter also analyses a number of sectors of the economy using his criterion of competition from what makes some global companies work to the relationship between business success and environmental regulation.
From the Paper
"It isn?t only that there isn?t any free lunch. But while you?re shelling out hard-earned bucks for your repast someone else is pushing their way ahead of you, probably egged on by people you thought were your friends. At least that?s Michael E. Porter?s view of the business world as outlined in On Competition, a collection of his works that examines the Hobbesian nature of the international economy. The credentials that Porter brings to this project are impressive: a Harvard Business School professor, Porter is one of the most respected and innovative economists of his time. The author of 15 books, he advises both elected officials and business leaders in all parts of the world."
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Mergers, 2002.
An overview of the history of mergers and their impact on economic efficiency and market competitiveness.
2,400 words (approx. 9.6 pages), 6 sources, $ 89.95
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Abstract
This paper will discuss the nature of the merger problem. In particular, it will analyze the polemical question of whether mergers are sources of economic efficiency or whether they jeopardize market competitiveness. This will be looked at in a contemporary context, but it is useful to first present a history of mergers to better understand the present-day situation.
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Society and Competition in Sports, 2002.
A report examining the link with a focus on competition in sport and what effect overemphasizing competition in sport can have on society.
2,200 words (approx. 8.8 pages), 5 sources, MLA, $ 68.95
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Abstract
The following paper begins by describing the link between sport and society. It then moves on to discuss competition as essential to sport. This is followed by a discussion of the link between society and competition. Perspectives on overemphasizing sport will then be given as well as a discussion on the value of sport to society. Finally, the paper concludes by summarizing the problems that result when competition in sport is overemphasized.
From the Paper
?Sport can be identified as an important part of society, often reflecting the values of society. Christopher Bates Doob in Sociology: An Introduction notes how sports stars are idolized, being seen as the ultimate models of success, with Michael Jordan, Shaquille O?Neal and Charles Barkley being given as examples, with it being noted that these sports stars are famous, wealthy and widely marketed. The impact of sports on people is largely related to identity and to the process of people identifying with sports people. In the Olympics, country competes against country, with spectators of a country cheering for their own and reacting as if they have won when the athlete wins. The reality is that the spectator has no relationship with the athlete except that they share a common culture. Logically, this seems absurd that the spectator would register a win because the athlete wins. This shows the way that people associate with the sports person and the way their actions impact directly on the spectator. It also shows just how much sport means to an individual. The same can be applied to town against town sports, or university against university sports. In all cases, the spectator identifies with a certain side and this gives the sport meaning to them.?
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Mergers and Acquisitions, 2006.
A look at mergers and acquisitions (M&A) as a competitive strategy that enterprises undertake for varying reasons.
900 words (approx. 3.6 pages), 0 sources, $ 35.95
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Abstract
This paper discusses mergers and acquisitions (M&A) and how they are financed. Particularly focus is paid to financing via stock swaps, cash and stock, and leveraged buyouts as well as hostile takeovers. The Sears-Kmart merger is used as an illustrative example of M&A activity while risk mitigation is included at the conclusion of the document. In the final analysis companies need to be prepared to walk away from a cross border merger or acquisition.
From the Paper
"From one perspective they are viewed as an excellent way to achieve growth and market share without extensive resources dedicated to organically growing the enterprise, while on the other hand they can also be viewed as a competitive strategy to remove a market threat (Mastracchio & Zunitch, 2002). In any event, M&A has come to be associated with a specific category of corporate finance and management that involves either merging two companies into one or in an outright purchase of another company. In either case, M&A requires extensive due diligence that involves extreme examination of the each company's accounting records and financial reports in an effort to avoid any liability concerns following the M&A activity."
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Competition, 2002.
An overview of several important concepts of microeconomics relating to competition.
1,559 words (approx. 6.2 pages), 4 sources, MLA, $ 51.95
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Abstract
This paper examines the two types of competition, perfect and imperfect competition, as well as the various concepts regarded as subdivisions of these concepts. The paper also examines Michael Porter?s five forces model, which is based on these economic concepts of competition. It shows how Porter offers an insight into the intensity of competition and focuses on the factors that affect rivalry between firms in any industry.
Paper Outline:
Introduction
Perfect Competition
Oligopoly
Monopolistic Competition
Porter's Five Forces Model
Barriers to Entry
Rivalry
Consumer Power
Threat of Substitutes
Competitive Advantage
References
From the Paper
"Porter explains that barriers to entry play an important role in determining the intensity of competition within an industry. When few players exist and there are high restrictions placed on the entry of the new firm, the existing companies might become less competitive as they are certain of their market share and feel that no new entrant can threaten their position. On the other hand, if there are no barriers, competition can be absolutely intense, giving rise to extreme rivalry and constant change in prices or marketing strategies. Barriers can range from government restrictions to inherent limitations such as high cost of machinery or equipment needed for that business etc."
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Monopolistic Competition and the Oligopoly, 2008.
This paper discusses the competitive free market, monopolistic competition and the oligopoly.
2,265 words (approx. 9.1 pages), 9 sources, APA, $ 70.95
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Abstract
The paper discusses the pure competitive market, which does not exist in practice and the near monopoly market, which is the rule rather than the exception. The paper explains that most free markets today function within the extremes of pure monopolies and the oligopoly that are both harmful to the consumer and the free market.
Outline:
Overview
The Competitive Environment
Pure Competition
Monopolistic Competition
The Oligopoly
Conclusion
From the Paper
"Early economic theory was based on an antiquated understanding of how economics functions with respect to the consumer. Early theorists believed that the free market competition would be based on numerous competitors that sold the same types of items and competed solely on the basis of price (Sweezy, 2004). In fact, this model was overly simplistic and did not account for consumer behavior much less the ability of businesses of all sizes to innovate, differentiate, and artificially stimulate demand in the consumer market. Businesses have developed very refined abilities to sell and market their products and products and services have become highly individualized in order to capture market share. Competition in the contemporary free market has evolved into a much more complex entity than these early theorists such as Adam Smith conceived of."
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