Optimizing the pre-merger notification rule with regulatory data: Empirical analysis from China

IF 3.4 3区 经济学 Q1 ECONOMICS
Qiaoqin Xiong , Feng Deng , Hongjun Li , Danxia Xie
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引用次数: 0

Abstract

This paper leverages a regulatory dataset from the China antitrust authority to provide methodological guidance for improving the pre-merger notification rule, examining both its form and level. We simulate the government's decision-making process and use the Receiver Operating Characteristic (ROC) curve to optimize the rule. Our goal is to address concerns about excessively low thresholds or complex criteria (Type I error) and unreasonably high thresholds or singular criteria (Type II error). We find that China's current notification threshold levels tend to be rigid. Relative to the turnover-based "Size-of-Person" criterion, the "Size-of-Transaction" criterion appears more effective for identifying potential anti-competitive cases in a "simple and objective" manner. Although the study is based in China, the techniques and empirical findings are expected to have broader implications.
基于监管数据的并购前通知规则优化——来自中国的实证分析
本文利用中国反垄断机构的监管数据集,对并购前通知制度的形式和水平进行考察,为完善并购前通知制度提供方法指导。我们模拟了政府决策过程,并利用接受者工作特征(ROC)曲线来优化规则。我们的目标是解决过低阈值或复杂标准(类型I错误)和不合理的高阈值或单一标准(类型II错误)的问题。我们发现,中国目前的通报门槛水平往往是刚性的。相对于基于营业额的“人员规模”标准,“交易规模”标准似乎更有效地以“简单客观”的方式识别潜在的反竞争案件。虽然这项研究是在中国进行的,但其技术和实证研究结果有望产生更广泛的影响。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
4.70
自引率
9.40%
发文量
90
期刊介绍: The Journal of Asian Economics provides a forum for publication of increasingly growing research in Asian economic studies and a unique forum for continental Asian economic studies with focus on (i) special studies in adaptive innovation paradigms in Asian economic regimes, (ii) studies relative to unique dimensions of Asian economic development paradigm, as they are investigated by researchers, (iii) comparative studies of development paradigms in other developing continents, Latin America and Africa, (iv) the emerging new pattern of comparative advantages between Asian countries and the United States and North America.
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