In exante analysis, economic researchers try to evaluate possible anticompetitive effects of a proposed merger prudentially either by creating or strengthening a dominant. The sharing economy is often used as a general term for new business models or confused with similar emerging concepts such as the collaborative economy, the peertopeer economy, the gig economy, the ondemand economy and crowd economies. Synthetic overview of the collaborative economy p2p. The merger guidelines and the integration of efficiencies. Why the collaborative economy is changing everything. Our latest version of the honeycomb framework, honeycomb 3. Roeller impact of the new substantive test biicl 111105. If the likely efficiencies from the merger will result in a more competitive market, or prevent a lessening of competition within the market, then the postmerger market itself will retain sufficient competition to ensure that, over time, merger generated cost savings will benefit consumers through lower prices or improved quality goods. Merger control by conducting economic analysis broadly falls into two main categories. How can you facilitate a higher utilisation of the asset. According to one study cited, eightythree percent of mergers and acquisitions fail to create their intended value.
Socioeconomic, regulatory and policy issues 8 pe 595. The origins of timebanking in europe date back to the early 90s, to the sociopolitical debates about social times in italy and to the lets initiatives in the united kingdom since then, a great. Expanding alliance strategies in higher education dr. Kiel institute of world economics duesternbrooker weg 120.
The court made clear that due process standards will be strictly enforced in merger cases, despite the relatively tight deadlines. Control of the collaborative economy purchases of goods or services carried out by spaniards on foreign sites, 40. A congeneric merger is between firms in related but different industries, for example an airline acquiring an travel agency. Therefore, all else being equal, there is no reason to challenge the merger. Dec 18, 2014 familiarize yourself with the honeycomb, then find additional graphs, data, and reports. Seven months ago, in may 2014, we published the first version of the collaborative economy honeycomb, which is also embedded at the bottom of this post.
Similar issues may arise in four deals to watch in 2016. This infogrid provides information on major mergers, acquisitions and convergence in the electric utility industry. The judgment reinforces due process and transparency in eu merger control proceedings. Statutory merger concept overview, example, and breadown. Electronic and electrical equipment industries, 48 journal of industrial economics 47 march 2000. The current version of the honeycomb seen in the figure below, aka honeycomb 3. Dow and dupont executives met with the eu competition authority again in march 2017, and stated that their merger would be completed by august 2017. Dafcomp200741 2 foreword this document comprises proceedings in the original languages of a roundtable on dynamic efficiencies in merger analysis and competition policy, held by the competition committee in june 2007. The consolidation of two or more separatelyowned businesses under single ownership. This document includes an executive summary and the documents from the meeting. This free online tool allows to combine multiple pdf or image files into a single pdf document. The sharing economy sometimes also referred to as the peertopeer economy, mesh, collaborative economy, collaborative consumption is a socioeconomic system built around the sharing of human. Merger activities since the beginning of the 20th century since the mid1990s, the world economy has experienced an unprecedented merger wave.
In a statutory merger between two companies where company a merges with company b, one of the two companies will continue to survive after the transaction has completed. The collaborative economy, sometimes called the sharing economy, covers a great variety of sectors and is rapidly emerging across europe. Founder of crowd companies jeremiah owyang thinks that the sharing economythough he prefers the term collaborative economycould. In addition, a data appendix provides information on merger and acquisition activity over the past two decades.
Register to receive a highres version this is a market map to help you understand how every industry can benefit from the collaborative economy by partnering with new startups. Familiarize yourself with the honeycomb, then find additional graphs, data, and reports. The collaborative economy enables people to get what they need from each other. Collaborative economy honeycomb framework adapted from owyang 2014. According to the merger regulation, a merger can only be blocked if it creates or strengthens a dominant position. Cars and bedrooms are the most cited examples, but the sharing economy. Merger analysis use the internet to research two 2 publically held health care organizations in the state of south carolina that you believe would benefit from a merger. In its third version, the honeycomb illustrates those resilient structures among participants in the collaborative economy that enable access, sharing and growth of resources among a common group. Many people in the eu have already used, or are aware of collaborative economy services, which range from sharing houses and car journeys, to domestic services. The current bible is that hefty 350page report the synthetic overview of the collaborative economy by michel bauwens of the foundation for peertopeer alternatives, which handily depicts the spread and clout of sharing, factoring in things like cooperatives, crowdsourced achievements like. Similarly, in nature, honeycombs are resilient structures that enable access, sharing, and growth of resources among. The sharing economy refers to economic activity centred around online platforms, based on sharing underused assets or services, for free or for a fee, on a peertopeer basis.
Review of the collaborative economy in nsw liability limited by a scheme approved under professional standards legislation. Anticompetitive effects are initially mild but such mergers of large companies can lead to concentrations of economic power. Merger regulation is the introduction of the concept of joint dominance. Develop a competence in making financial decisions using net present value, pertinent financial ratios, and breakeven analysis.
Merger integration in the utility industry our perspective. The need to combine financial, social and environmental performance leads to the transition of traditional business towards sustainable, resourceefficient and lowcarbon economy. The report is intended to provide the dfsi with a baseline understanding of the current state of play of the collaborative economy in nsw. Some of these data reveal general merger trends and some relate more directly to. Far more telling, almost every type of sharing has expanded. Cars and bedrooms are the most cited examples, but the sharing economy includes everything from household appliances to land use. Mergers, acquisitions and conflict conflict dynamics. The number of worldwide mergers and acquisitions more than tripled between 1990 and 2000, and the transaction volume increased by the factor 12 figure 1.
Rethinking merger efficiencies university of michigan. Firstly, consolidation of existing knowledge, research, literature, and. Ismail and rahim 2009, in their study on the impact of mergers on efficiency and productivity in malaysian commercial banks covering the period 19952005, reported that domestic banks improved. Mapping out the sharing economy white rose research online.
A firm is dominant if it has a large degree of market power a monopolylike situation. Usda ers mergers and competition in seed and agricultural. Pdf with more than half the worlds population living in ever more. Deloitte refers to one or more of deloitte touche tohmatsu limited, a uk private company limited by guarantee, and its network. Ed observed, and i agreed, that donald turners role in bringing economic analysis to bear on antitrust enforcement was undervalued, even ignored. Exploring the honeycomb of the collaborative economy jeremiah. Dynamic efficiencies in merger analysis 2007 the oecd competition committee debated dynamic efficiencies in merger analysis in june 2007. Alphabetizing throughout the lead column is based on the name of the first partner shown in each row of the infogrid. Study 26 terms bud belz midterm 22 flashcards quizlet. Williamson these remarks have their origin in a conversation i had with edwin zimmerman about two years ago. Figure 9 collaborative economy honeycomb, version 2. Similarly, in nature, honeycombs are resilient structures that enable access, sharing, and growth of resources among a common group. Facing social and regulatory pressure companies incorporate stakeholder expectations in their strategic thinking and business operation.
Importance of the collaborative economy and why it is such a big thing now. It contained six families of industries that are being impacted by p2p commerce, including. Joseph farrell and carl shapiro, scale economies and synergies in horizontal merger analysis, 68 antitrust law j. The socalled collaborative economy is gaining steam, as people increasingly choose to share and crowdsource goods, services, funding, transportation, and more. Then ill list the general advantages and disadvantages of mergers and acquisitions deals. It appears general uncertainties related to the us presidential elections, the longterm impact of brexit, and chinas. Similarly, in nature, honeycombs are resilient structures that. This is a common form of combination in the mergers and acquisitions process. Importance of the collaborative economy and why it. Use the honeycomb graphic as a map, as a guide, and as a resource to consider how you might participate, share, and collaborate in the powerful, new collaborative economy movement. Register to receive a highres version this is a market map to help you understand how every industry can benefit from the collaborative economy by. Oct 16, 2014 jeremiah is the founder of crowd companies. In such cases one talks more precisely of single firm dominance. If this is your first time registering, please check your inbox for more information about the benefits of your forbes account and what you can do next.
Theres really no question whether its going to happen or not, owyang said of the high rates of adoption of peertopeer platforms. Pdf impact of merger on efficiency and productivity in. The collaborative economy socioeconomic, regulatory and. Exploring the honeycomb of the collaborative economy reinvent. The report considers the economic contribution of the collaborative economy in nsw by researching more than 80 collaborative businesses across a dozen sectors. Exploring the honeycomb of the collaborative economy. Mergers fall into one of three classes1 horizontal between firms that sell competing products in the same market, 2 vertical between firms in different stages of the production of one good, and 3 conglomerate between firms that are in separate industries. Rethinking merger efficiencies present value efficiencies that would be passed on to consumers. Notwithstanding their argument that the prior merger proved that consolidation in the industry did not result in higher prices, electrolux and ge abandoned their transaction in the middle of the preliminary injunction hearing. This value can come from a larger geographic footprint, a better powergeneration and asset mix, and a more efficient cost structure. The decision was, therefore, annulled for failure to respect rights of defence in relation to the handling of economic evidence by the commission. Efficiency gains from mergers larshendrik roller, johan stennek and frank verboven the purpose of this chapter is to contribute to the analysis of two questions.
It displays the two partners, comprised of electric companies, natural gas companies, or energy service providers. Learn vocabulary, terms, and more with flashcards, games, and other study tools. This is a guest blog and may not represent the views of. It has been reported that between july 1, 1995 and august 31, 2001 merger. Provided a brief basic understanding, i then focus on the main. Jerry gilley, major professor sharon drake larry ebbers ellen mullen.
Do they really want the physical goodasset you are selling to them or do they only need temporarily its function. Acquisitions should support the utilitys longterm strategic objectives and ultimately add value for shareholders. The collaborative economy in nsw deloitte australia. Do they really want the physical goodasset you are selling to them or do they only need temporarily its.
Thomas new england board of higher education with commentary provided by. Exploring the honeycomb of the collaborative economy series. Pdf collaborative economy and the digitalization of. Petersburg, florida 33711 conflict dynamics profile at eckerd college. Then i take you through various corporate strategies in line with conducting mergers and acquisitions. The employee perspective by douglas dale whittle a dissertation submitted to the graduate faculty in partial fulfillment of the requirements for the degree of doctor of philosophy major education educational leadership program of study committee. Youll learn about the most common merger model questions in this tutorial, as well as what type of progression to expect and the key principles you must understand in order to answer any math questions on this topic. Yet few merging companies devote as much time and effort to integrating alliances as they do to. A conglomerate merger is between firms in unrelated businesses and has little effect on competition. With 50 deals, the quarter saw a decline of 11% in deal volume compared to both q2 2016 and q3 2015. Fully articulate the rationale for the merger in terms of its strategic importance. A congeneric merger is between firms in related but.
1325 644 460 573 941 699 200 296 60 1087 598 703 942 1407 6 469 420 630 43 966 1656 162 1551 728 1361 650 976 658 1324 369 764 302 1404 1565 116 1441 1408 815 1116 1226 1270 216