并购审查中相关市场界定的方法研究——临界损失分析的框架、拓展和新思路  

Relevant Market Definition Methods in Merger Review——Generalization of Critical Loss Analysis

作　　者：黄坤[1] 

机构地区：[1]北方工业大学规制与竞争研究中心,北京100144

出　　处：《财经论丛》2014年第8期78-86,共9页Collected Essays on Finance and Economics

基　　金：国家自然科学基金资助项目(713030008);国家社会科学基金重点资助项目(12AZD099)

摘　　要：相关市场界定是并购审查的关键环节,临界损失分析是目前世界上界定相关市场的主流方法。本文通过放松在价格上涨区间内需求曲线平滑和边际成本不变这两个假设条件,拓展了临界损失分析,并提出基于推测变分技术的临界损失分析方法,在此基础上,为解决备选市场有多种差异化产品时标准的临界损失分析失效的问题,提出了新的临界损失分析思路。本文对有关各方准确地理解和应用临界损失分析,完善《关于相关市场界定的指南》具有重要的理论和现实意义。Relevant market definition is one key step in merger review and critical loss analysis is a popular method for relevant market definition. This paper tries to generalize critical loss analysis by relaxing the two assumptions that the demand curve is smooth and that marginal cost is constant in the range of SSNIP. It puts forward a new variant of critical loss analysis based on conjecture technology. In order to solve the invalidity of standard critical loss analysis when a candidate market has a variety of differentiated products, the paper proposes a new way to implement critical loss analysis. The paper is intended to facilitate better understanding and proper use of the eritical loss analysis by all related parties, and also to help improve Guide- lines on Relevant Market Definition.

关 键 词：并购审查 相关市场界定 临界损失分析 

分 类 号：F038.2[经济管理—政治经济学]