Some Empirical Evidence on the Effectiveness of Antimerger Relief in the United States

The paper seeks to fill the void in the empirical economics literature of U.S. antimerger policy. A new empirical measure of relief secured in a Section 7 case is proposed. The extent of obtained relief is modeled as a fraction of the competitive overlap subject to structural divestiture. The model of determination of the relative size and scope of divestiture is applied to a sample of recent Section 7 cases. The estimated model is reasonably successful at predicting the outcomes of several out-of-sample cases.Antimerger relief, U.S. Department of Justice, structural remedies, merger policy, Section 7

A Pillar For Successful Business School Accreditation: Conducting The Curriculum Review Process A Systematic Approach

The Association to Advance Collegiate Schools of Business (AACSB) describes their accreditation as the hallmark of business education. According to information at BestBizSchools.com (n.d.), AACSB accreditation represents the highest standard of achievement for business schools worldwide. Being AACSB accredited means a business school is able to continuously pass a strict set of standards that ensure quality. As of December 2010, only 5%, or 607, of the academic business programs globally were accredited by AACSB. This number represents schools in 38 countries where the majority of programs incorporate both undergraduate and graduate education covering business, accounting, or both. An institution must be a member of AACSB in order to apply for accreditation. It is important to note, however, that membership does not imply that the program is accredited (The Association to Advance Collegiate Schools of Business, n.d.-a). Recent emphasis demanding external validation on the quality of Business Schools has resulted in the promotion of AACSB accreditation as the de facto quality standard. Earning this quality seal of approval, business programs can verify they have met the 21 AACSB standards that cover strategic, participant, and assurance of learning achievements and processes. Programs with AACSB accreditation are encouraged to promote the standard using it to externally validate their quality and to market their programs to external groups including students, employers, and contributors (The Association to Advance Collegiate Schools of Business, n.d.-b). Despite established standards, no single approach to meeting standards for accreditation is suggested by AACSB. Rather, varying approaches to meeting standards should be developed to fit individual programs of institutions (Bryant & Scherer, 2009). This position by AACSB underscores its recognition of the diversity across accredited programs and allows educators wide latitude in developing and implementing approaches to excellence. Small programs are not disadvantaged so long as their students, faculty, graduates, and the employers who hire them receive the quality outputs that help them meet the external competitive requirements (Olian, 2007). In recognition of member institutions diversity, the AACSB has established the Affinity Group program where school administrators from schools sharing similar characteristics can interact, exchange ideas, and present views on a wide range of issues (Olian, 2007). This allows AACSB member schools, who have varying missions and constituents, to find and link with other programs of a similar nature where creativity and synergy can more easily occur. The AACSB wants the accreditation process to help facilitate creativity in designing business school strategies rather than being viewed as an impediment to a programs push to quality (Romero, 2008)

A Pillar For Successful Business School Accreditation: Conducting The Curriculum Review Process A Systematic Approach

The Association to Advance Collegiate Schools of Business (AACSB) describes their accreditation as the hallmark of business education. According to information at BestBizSchools.com (n.d.), AACSB accreditation represents the highest standard of achievement for business schools worldwide. Being AACSB accredited means a business school is able to continuously pass a strict set of standards that ensure quality. As of December 2010, only 5%, or 607, of the academic business programs globally were accredited by AACSB. This number represents schools in 38 countries where the majority of programs incorporate both undergraduate and graduate education covering business, accounting, or both. An institution must be a member of AACSB in order to apply for accreditation. It is important to note, however, that membership does not imply that the program is accredited (The Association to Advance Collegiate Schools of Business, n.d.-a). Recent emphasis demanding external validation on the quality of Business Schools has resulted in the promotion of AACSB accreditation as the de facto quality standard. Earning this quality seal of approval, business programs can verify they have met the 21 AACSB standards that cover strategic, participant, and assurance of learning achievements and processes. Programs with AACSB accreditation are encouraged to promote the standard using it to externally validate their quality and to market their programs to external groups including students, employers, and contributors (The Association to Advance Collegiate Schools of Business, n.d.-b). Despite established standards, no single approach to meeting standards for accreditation is suggested by AACSB. Rather, varying approaches to meeting standards should be developed to fit individual programs of institutions (Bryant & Scherer, 2009). This position by AACSB underscores its recognition of the diversity across accredited programs and allows educators wide latitude in developing and implementing approaches to excellence. Small programs are not disadvantaged so long as their students, faculty, graduates, and the employers who hire them receive the quality outputs that help them meet the external competitive requirements (Olian, 2007). In recognition of member institutions diversity, the AACSB has established the Affinity Group program where school administrators from schools sharing similar characteristics can interact, exchange ideas, and present views on a wide range of issues (Olian, 2007). This allows AACSB member schools, who have varying missions and constituents, to find and link with other programs of a similar nature where creativity and synergy can more easily occur. The AACSB wants the accreditation process to help facilitate creativity in designing business school strategies rather than being viewed as an impediment to a programs push to quality (Romero, 2008)

Expert Advice on Finding Cheap Car Insurance

In the article, Kouliavtsev writes about the quality of low-cost car insurance, how drivers can lower their car insurance cost and how to fit the expenses into a budget

Some Empirical Evidence on the Effectiveness of Antimerger Relief in the United States

The extent of structural relief obtained by the government in a Section 7 settlement is modeled as an outcome of a bargaining game between the antitrust agency and parties to the merger. This framework is applied to data from 73 Section 7 cases settled during 1990--2000. The fraction of competitive overlap subject to divestiture is shown to depend on the extent of merger-specific efficiencies, the anticompetitive potential of the merger, and the hostage effect facing the merging firms, as well as the degree of media coverage of the case, the workload of the agency, and the partisan composition of Congress.(JEL L44, C24) Copyright 2005, Oxford University Press.

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

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. Copyright Springer Science+Business Media, LLC 2007merger policy, U.S. Department of Justice, structural remedies, L44, C24,

Productivity, Scale and Efficiency in the U.S. Textile Industry

VES function, Productivity, Textiles, Scale elasticity,