反垄断法视野下的横向持股问题  

Horizontal Shareholding from the Perspective of Anti-Monopoly Law

作　　者：王健[1] 雷昊楠 Wang Jian;Lei Haonan

机构地区：[1]浙江理工大学

出　　处：《竞争政策研究》2022年第5期34-58,共25页Competition Policy Research

基　　金：国家社会科学基金重点项目“反垄断法制裁的现代化研究”(18AFX019)。

摘　　要：横向持股已经成为一种世界级现象。美国包括航空业在内的3个行业、欧洲银行业、亚洲网约车行业、德国汽车与化工行业,我国包括多层陶瓷电容器、共享单车、快递配送等在内的7个行业,均不同程度存在横向持股现象。横向持股本身不是反垄断法中的垄断行为,但涉嫌推动了垄断协议与反竞争的经营者集中,可能具有反竞争的单边效应、协同效应与封锁效应。横向持股的反竞争效应还很大程度上取决于市场结构,尤其是寡头市场与头部效应显著的竞争市场,这种市场结构能够加强横向持股排除、限制竞争的效果。Horizontal shareholding has become a world-class phenomenon. Horizontal shareholding exists in three industries in the United States, including airline industry, European banking, Asian online car Hailing industry, German automobile and chemical industry, and seven industries in China, including multi-layer ceramic capacitors, bicyclesharing, express delivery, etc. Horizontal shareholding itself is not a monopolistic conduct in the anti-monopoly law, but it is suspected to promote the monopoly agreements and concentration of anti-competition, which may have the unilateral effect, coordinated effect and foreclosure effect of anti-competition. The anti-competitive effect of horizontal shareholding also depends largely on the market structure, especially the oligopoly market and the competitive market with significant head effect. This market structure can strengthen the effect of horizontal shareholding to eliminate and restrict competition.

关 键 词：横向持股 垄断行为 反竞争效应 市场结构 反垄断法 

分 类 号：F113[经济管理—国际贸易] F125[经济管理—世界经济] D912.29[政治法律—民商法学]