644 research outputs found

    Remedy for Now but Prohibit for Tomorrow: The Deterrence Effects of Merger Policy Tools

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    Antitrust policy involves not just the regulation of anti-competitive behavior, but also an important deterrence effect. Neither scholars nor policymakers have fully researched the deterrence effects of merger policy tools, as they have been unable to empirically measure these effects. We consider the ability of different antitrust actions – Prohibitions, Remedies, and Monitorings – to deter firms from engaging in mergers. We employ cross-jurisdiction/pan-time data on merger policy to empirically estimate the impact of antitrust actions on future merger frequencies. We find merger prohibitions to lead to decreased merger notifications in subsequent periods, and remedies to weakly increase future merger notifications: in other words, prohibitions involve a deterrence effect but remedies do not

    Remedy for Now but Prohibit for Tomorrow: The Deterrence Effects of Merger Policy Tools

    Get PDF
    Antitrust policy involves not just the regulation of anti-competitive behavior, but also an important deterrence effect. Neither scholars nor policymakers have fully researched the deterrence effects of merger policy tools, as they have been unable to empirically measure these effects. We consider the ability of different antitrust actions - Prohibitions, Remedies, and Monitorings - to deter firms from engaging in mergers. We employ cross-jurisdiction/pan-time data on merger policy to empirically estimate the impact of antitrust actions on future merger frequencies. We find merger prohibitions to lead to decreased merger notifications in subsequent periods, and remedies to weakly increase future merger notifications: in other words, prohibitions involve a deterrence effect but remedies do not. ZUSAMMENFASSUNG - (Auflagen heute, Untersagung morgen: Abschreckungswirkung von Wettbewerbs-intrumenten) Wettbewerbspolitik ist nicht nur Regulierung von wettbewerbsfeindlichem Verhalten, sondern hat auch eine wesentliche Abschreckungswirkung. Weder Wissenschaftler noch politische EntscheidungstrĂ€ger haben die Abschreckungswirkung von Wettbewerbspolitik vollstĂ€ndig untersucht, da es sehr schwierig ist diese Wirkung empirisch nachzuweisen. Wir untersuchen die Wirkung verschiedener wettbewerbspolitischer Maßnahmen - Untersagung, Auflagen und Monitoring - um Unternehmen von ZusammenschlĂŒssen abzuhalten. Wir nutzen einen Panel-Datensatz, um den Einfluss von Wettbewerbspolitik auf die kĂŒnftige Anzahl von FirmenzusammenschlĂŒssen zu bewerten. Wir zeigen, dass die Untersagung von ZusammenschlĂŒssen die FusionsankĂŒndigung in der Zukunft reduziert, und dass Fusionsauflagen kĂŒnftige AnkĂŒndigungen schwach ansteigen lassen. Anders gesagt: Untersagungen haben eine fĂŒhren zu Abschreckungswirkung, Auflagen nicht.merger policy tools, deterrence effects, cross-section/time-series data

    Remedy for Now but Prohibit for Tomorrow: The Deterrence Effects of Merger Policy Tools

    Get PDF
    Antitrust policy involves not just the regulation of anti-competitive behavior, but also an important deterrence effect. Neither scholars nor policymakers have fully researched the deterrence effects of merger policy tools, as they have been unable to empirically measure these effects. We consider the ability of different antitrust actions – Prohibitions, Remedies, and Monitorings – to deter firms from engaging in mergers. We employ cross-jurisdiction/pan-time data on merger policy to empirically estimate the impact of antitrust actions on future merger frequencies. We find merger prohibitions to lead to decreased merger notifications in subsequent periods, and remedies to weakly increase future merger notifications: in other words, prohibitions involve a deterrence effect but remedies do not.

    Remedy for now but prohibit for tomorrow: the deterrence effects of merger policy tools

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    "Antitrust policy involves not just the regulation of anti-competitive behavior, but also an important deterrence effect. Neither scholars nor policymakers have fully researched the deterrence effects of merger policy tools, as they have been unable to empirically measure these effects. We consider the ability of different antitrust actions - Prohibitions, Remedies, and Monitorings - to deter firms from engaging in mergers. We employ cross-jurisdiction/ pan-time data on merger policy to empirically estimate the impact of antitrust actions on future merger frequencies. We find merger prohibitions to lead to decreased merger notifications in subsequent periods, and remedies to weakly increase future merger notifications: in other words, prohibitions involve a deterrence effect but remedies do not." (author's abstract)"Wettbewerbspolitik ist nicht nur Regulierung von wettbewerbsfeindlichem Verhalten, sondern hat auch eine wesentliche Abschreckungswirkung. Weder Wissenschaftler noch politische EntscheidungstrĂ€ger haben die Abschreckungswirkung von Wettbewerbspolitik vollstĂ€ndig untersucht, da es sehr schwierig ist diese Wirkung empirisch nachzuweisen. Wir untersuchen die Wirkung verschiedener wettbewerbspolitischer Maßnahmen - Untersagung, Auflagen und Monitoring - um Unternehmen von ZusammenschlĂŒssen abzuhalten. Wir nutzen einen Panel-Datensatz, um den Einfluss von Wettbewerbspolitik auf die kĂŒnftige Anzahl von FirmenzusammenschlĂŒssen zu bewerten. Wir zeigen, dass die Untersagung von ZusammenschlĂŒssen die FusionsankĂŒndigung in der Zukunft reduziert, und dass Fusionsauflagen kĂŒnftige AnkĂŒndigungen schwach ansteigen lassen. Anders gesagt: Untersagungen haben eine Abschreckungswirkung, Auflagen nicht." (Autorenreferat

    How to measure the deterrence effects of merger policy: frequency or composition?

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    "We show that the number of merger proposals (frequency-based deterrence) is a more appropriate indicator of underlying changes in merger policy than the relative anti-competitiveness of merger proposals (composition-based deterrence). This has strong implications for the empirical analysis of the deterrence effects of merger policy enforcement, and potential implications regarding how to reduce anti-competitive merger proposals." (author's abstract)"Diese Studie vergleicht zwei Indikatoren zur Messung der Abschreckungswirkung von wettbewerbspolitischen Maßnahmen. Untersucht wird, welcher Indikator sich besser eignet, VerĂ€nderungen in der Strenge oder Laxheit von wettbewerbspolitischen Regimes abzubilden. Es lĂ€sst sich feststellen, dass der hĂ€ufigkeitsbasierte Indikator, der die Anzahl von offiziellen FusionsankĂŒndigungen misst, dazu besser geeignet ist als der zusammengesetzte Abschreckungsindikator, der die angekĂŒndigten Unternehmensfusionen im Hinblick auf ihre relative WettbewerbsbeschrĂ€nkung im Vergleich zu möglichen anderen Fusionen bewertet. Dieses Ergebnis hat Folgen fĂŒr die empirische Analyse der Abschreckungseffekte, die eine effektive Fusionskontrolle haben sollte. Außerdem kann es Implikationen haben fĂŒr die Frage, wie die offizielle AnkĂŒndigung von wettbewerbsreduzierenden Fusionen verhindert werden können." (Autorenreferat

    Maternal Diabetes Mellitus as a Risk Factor for High Blood Pressure in Late Childhood

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    Intrauterine fetal conditions can have lifelong cardiovascular effects. The impact of maternal diabetes mellitus on children’s cardiovascular profile is not well established. The goal of this study was to explore the association between maternal diabetes mellitus and offspring’s blood pressure (BP) ≀10 years of age. Generation XXI is a prospective birth cohort, which enrolled 8301 mother-offspring pairs, including 586 (7.1%) children of diabetic mothers. The associations between maternal diabetes mellitus and BP at 4, 7, and 10 years of age was modeled using linear regression. A mixed-effects model was built to assess differences in BP variation over time. Path analysis was used to quantify effects of potential mediators. Maternal diabetes mellitus was associated with higher BP in offspring at the age of 10 (systolic: ÎČ, 1.48; 95% CI, 0.36–2.59; and diastolic: ÎČ, 0.86; 95% CI, 0.05–1.71). This association was independent of maternal perinatal characteristics, and it was mediated by child’s body mass index and, to a lesser extent, by gestational age, type of birth, and birth weight (indirect effect proportion, 73%). No significant differences in BP were found at 4 and 7 years of age. Longitudinal analysis showed an accelerated systolic BP increase on maternal diabetes mellitus group (ÎČ, 1.16; 95% CI, 0.03–2.28). These finding were especially relevant in males, suggesting sex differences in the mechanisms of BP prenatal programing. Our results provide further evidence that maternal diabetes mellitus is associated with high BP late in childhood, demonstrating a significant role of child’s body mass in the pathway of this association.This work was supported by Programa Operacional de SaĂșde–SaĂșde XXI, Quadro ComunitĂĄrio de Apoio III, and Administração Regional de SaĂșde Norte (Regional Department of Ministry of Health); FEDER (European Regional Development Fund) through the Operational Programme Competitiveness and Internationalization and national funding from the Foundation for Science and Technology–FCT (Portuguese Ministry of Science, Technology and Higher Education) through Unidade de Investigação em Epidemiologia–Instituto de SaĂșde PĂșblica da Universidade do Porto (EPI Unit; POCI-01-0145-FEDER-006862; Ref UID/DTP/04750/2013); Norte Portugal Regional Operational Programme (NORTE 2020), under the PORTUGAL 2020 Partnership Agreement, through the European Regional Development Fund-DOCnet (NORTE-01-0145-FEDER-000003); and from the Calouste Gulbenkian Foundation

    ENLACE: A Combination of Layer-Based Architecture and Wireless Communication for Emotion Monitoring in Healthcare

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    Owing to the increase in the number of people with disabilities, as a result of either accidents or old age, there has been an increase in research studies in the area of ubiquitous computing and the Internet of Things. They are aimed at monitoring health, in an efficient and easily accessible way, as a means of managing and improving the quality of life of this section of the public. It also involves adopting a Health Homes policy based on the Internet of Things and applied in smart home environments. This is aimed at providing connectivity between the patients and their surroundings and includes mechanisms for helping the diagnosis and prevention of accidents and/or diseases. Monitoring gives rise to an opportunity to exploit the way computational systems can help to determine the real-time emotional state of patients. This is necessary because there are some limitations to traditional methods of health monitoring, for example, establishing the behavior of the user’s routine and issuing alerts and warnings to family members and/or medical staff about any abnormal event or signs of the onset of depression. This article discusses how a layer-based architecture can be used to detect emotional factors to assist in healthcare and the prevention of accidents within the context of Smart Home Health. The results show that this process-based architecture allows a load distribution with a better service that takes into account the complexity of each algorithm and the processing power of each layer of the architecture to provide a prompt response when there is a need for some intervention in the emotional state of the user

    Indução da carcinogĂȘnese mamĂĄria experimental em ratas com 7,12-dimetilbenz(a)antraceno

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    PURPOSE: To test an experimental model of chemical mammary carcinogenesis induction in rats. METHODS: Twenty young virgin Sprague-Dawley female rats, aged 47 days, received 20 mg of 7,12-dimethylbenz(a)anthracene (DMBA) intragastrically by gavage. Afterwards, at 8 and 13 weeks, their mammary glands were examined. At the end of the experiment, the animals were sacrificed, and the mammary tumors were measured and weighed. Tumor fragments were analyzed using light microscopy. RESULTS: Eight weeks after DMBA injection, 16 rats presented at least 1 breast tumor (80%). After 13 weeks, all of them (100%) developed breast carcinomas that were confirmed by histopathological analysis. CONCLUSION: This experimental animal model of chemical mammary induced carcinogenesis is feasible and can be used in further experiments on the role of tumorigenic biomodulator substances.OBJETIVO: Testar um modelo experimental de indução quĂ­mica de carcinogĂȘnese mamĂĄria em ratas. MATERIAL E MÉTODOS: Com 47 dias de vida, 20 ratas Sprague-Dawley, jovens e virgens, receberam por gavagem intragĂĄstrica 20 mg de 7,12-dimetilbenz(a)antraceno (DMBA). Oito e 13 semanas depois da injeção de droga as mamas das ratas foram examinadas. Ao final os animais foram sacrificados e fragmentos dos tumores foram estudados ao microscĂłpio. RESULTADO: Oito semanas depois da injeção de DMBA 16 ratas apresentavam tumor nas mamas (80%). Com 13 semanas todas desenvolveram carcinomas de mama (100%), que foram confirmados por anĂĄlise histopatolĂłgica. CONCLUSÃO: Este modelo experimental de indução quĂ­mica de carcinogĂȘnese mamĂĄria Ă© factĂ­vel e pode ser empregado em futuras pesquisas para avaliar o papel de substĂąncias biomoduladoras da tumorigĂȘnese

    Effect of skin pass roll bending in flatness of steel strips.

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    A flex?o dos cilindros durante a lamina??o ? um fen?meno que tanto provoca defeitos de planicidade como permite corrigi-los, atrav?s da lamina??o diferenciada ao longo da largura. Este trabalho objetivou avaliar o efeito da flex?o estimada dos cilindros na lamina??o de encruamento sobre a varia??o da planicidade de tiras laminadas a quente. Isto foi realizado atrav?s de experimentos industriais com varia??o dos par?metros de for?a de lamina??o e de dobramento durante processamento no laminador de encruamento, em que se buscou correlacionar os resultados estimados de flex?o com os resultados observados de varia??o de planicidade. Foi confirmada a rela??o entre a flex?o dos cilindros e a planicidade, praticamente sem varia??o da planicidade quando o perfil transversal da tira e a flex?o dos cilindros eram coerentes e com a varia??o da planicidade aumentando ? medida que se aumentava esta incoer?ncia.Roll bending during rolling can be the cause and the solution for flatness defects through differential rolling across the strip width. This work aims to evaluate the effect of skin pass roll bending in flatness changes of hot rolled strips. This was done through industrial experiments with process parameters changings of rolling force and bending forces in the skin pass mill, correlating the estimated result of roll bending with the observed flatness changes. The results confirmed the relationship between roll bending and flatness, practically without flatness changes when the cross section of the strip and the roll bending was coherent and with flatness changes increasing with the increase of this incoherence
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