A firm is dominant if it has a large degree of market power a monopolylike situation. This document includes an executive summary and the documents from the meeting. Oct 16, 2014 jeremiah is the founder of crowd companies. Ed observed, and i agreed, that donald turners role in bringing economic analysis to bear on antitrust enforcement was undervalued, even ignored. Pdf collaborative economy and the digitalization of. Williamson these remarks have their origin in a conversation i had with edwin zimmerman about two years ago. Similarly, in nature, honeycombs are resilient structures that enable access, sharing, and growth of resources among a common group. Fully articulate the rationale for the merger in terms of its strategic importance. Rethinking merger efficiencies university of michigan. Exploring the honeycomb of the collaborative economy series. 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. 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. 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.
Provided a brief basic understanding, i then focus on the main. The current version of the honeycomb seen in the figure below, aka honeycomb 3. 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. Then i take you through various corporate strategies in line with conducting mergers and acquisitions. 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 is a guest blog and may not represent the views of. 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. Products, services, and market relationships have changed as sharing startups impact business models. Exploring the honeycomb of the collaborative economy. Theres really no question whether its going to happen or not, owyang said of the high rates of adoption of peertopeer platforms. 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. Petersburg, florida 33711 conflict dynamics profile at eckerd college. The decision was, therefore, annulled for failure to respect rights of defence in relation to the handling of economic evidence by the commission. Merger integration in the utility industry our perspective.
Review of the collaborative economy in nsw liability limited by a scheme approved under professional standards legislation. 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. 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. According to the merger regulation, a merger can only be blocked if it creates or strengthens a dominant position. The collaborative economy in nsw deloitte australia.
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. Cars and bedrooms are the most cited examples, but the sharing economy includes everything from household appliances to land use. 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. How can you facilitate a higher utilisation of the asset. It displays the two partners, comprised of electric companies, natural gas companies, or energy service providers. The collaborative economy, sometimes called the sharing economy, covers a great variety of sectors and is rapidly emerging across europe. Should a merger control system take into account efficiency gains from horizontal mergers, and balance these gains against the anticompetitive effects of mergers. 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. The collaborative economy socioeconomic, regulatory and.
The consolidation of two or more separatelyowned businesses under single ownership. Control of the collaborative economy purchases of goods or services carried out by spaniards on foreign sites, 40. Do they really want the physical goodasset you are selling to them or do they only need temporarily its. Our latest version of the honeycomb framework, honeycomb 3. 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. It has been reported that between july 1, 1995 and august 31, 2001 merger. As you can see in the talks agenda, i will spend a few minutes first to define mergers and acquisitions briefly, providing few examples. Dynamic efficiencies in merger analysis 2007 the oecd competition committee debated dynamic efficiencies in merger analysis in june 2007. Develop a competence in making financial decisions using net present value, pertinent financial ratios, and breakeven analysis. This infogrid provides information on major mergers, acquisitions and convergence in the electric utility industry. Merger control by conducting economic analysis broadly falls into two main categories. In exante analysis, economic researchers try to evaluate possible anticompetitive effects of a proposed merger prudentially either by creating or strengthening a dominant. Do they really want the physical goodasset you are selling to them or do they only need temporarily its function.
The court made clear that due process standards will be strictly enforced in merger cases, despite the relatively tight deadlines. Familiarize yourself with the honeycomb, then find additional graphs, data, and reports. A congeneric merger is between firms in related but. Cars and bedrooms are the most cited examples, but the sharing economy. Importance of the collaborative economy and why it is such a big thing now. 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. Yet few merging companies devote as much time and effort to integrating alliances as they do to. Similarly, in nature, honeycombs are resilient structures that enable access, sharing, and growth of resources among. Socioeconomic, regulatory and policy issues 8 pe 595. Some of these data reveal general merger trends and some relate more directly to. It appears general uncertainties related to the us presidential elections, the longterm impact of brexit, and chinas. 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.
Joseph farrell and carl shapiro, scale economies and synergies in horizontal merger analysis, 68 antitrust law j. The need to combine financial, social and environmental performance leads to the transition of traditional business towards sustainable, resourceefficient and lowcarbon economy. Exploring the honeycomb of the collaborative economy reinvent. Dec 18, 2014 familiarize yourself with the honeycomb, then find additional graphs, data, and reports. 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. This value can come from a larger geographic footprint, a better powergeneration and asset mix, and a more efficient cost structure. In such cases one talks more precisely of single firm dominance. This free online tool allows to combine multiple pdf or image files into a single pdf document. The report considers the economic contribution of the collaborative economy in nsw by researching more than 80 collaborative businesses across a dozen sectors. Collaborative economy honeycomb framework adapted from owyang 2014. Anticompetitive effects are initially mild but such mergers of large companies can lead to concentrations of economic power.
Mergers, acquisitions and conflict conflict dynamics. Firstly, consolidation of existing knowledge, research, literature, and. With 50 deals, the quarter saw a decline of 11% in deal volume compared to both q2 2016 and q3 2015. Why the collaborative economy is changing everything. 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. 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.
Pdf with more than half the worlds population living in ever more. Usda ers mergers and competition in seed and agricultural. The socalled collaborative economy is gaining steam, as people increasingly choose to share and crowdsource goods, services, funding, transportation, and more. Electronic and electrical equipment industries, 48 journal of industrial economics 47 march 2000. Study 26 terms bud belz midterm 22 flashcards quizlet. Pdf impact of merger on efficiency and productivity in. Deloitte refers to one or more of deloitte touche tohmatsu limited, a uk private company limited by guarantee, and its network. A conglomerate merger is between firms in unrelated businesses and has little effect on competition. 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.
Merger regulation is the introduction of the concept of joint dominance. It contained six families of industries that are being impacted by p2p commerce, including. Facing social and regulatory pressure companies incorporate stakeholder expectations in their strategic thinking and business operation. Far more telling, almost every type of sharing has expanded.
Similar issues may arise in four deals to watch in 2016. 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. Mapping out the sharing economy white rose research online. Exploring the honeycomb of the collaborative economy jeremiah. Thomas new england board of higher education with commentary provided by. 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. Acquisitions should support the utilitys longterm strategic objectives and ultimately add value for shareholders. According to one study cited, eightythree percent of mergers and acquisitions fail to create their intended value. The collaborative economy enables people to get what they need from each other. Statutory merger concept overview, example, and breadown.
Founder of crowd companies jeremiah owyang thinks that the sharing economythough he prefers the term collaborative economycould. 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. Rethinking merger efficiencies present value efficiencies that would be passed on to consumers. Then ill list the general advantages and disadvantages of mergers and acquisitions deals. Similarly, in nature, honeycombs are resilient structures that.
The report is intended to provide the dfsi with a baseline understanding of the current state of play of the collaborative economy in nsw. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Merger activities since the beginning of the 20th century since the mid1990s, the world economy has experienced an unprecedented merger wave. Expanding alliance strategies in higher education dr. It is also clear that the right solution is one that involves a mix of governmental and nongovernmental regulation. Alphabetizing throughout the lead column is based on the name of the first partner shown in each row of the infogrid. In addition, a data appendix provides information on merger and acquisition activity over the past two decades.
Kiel institute of world economics duesternbrooker weg 120. This is a common form of combination in the mergers and acquisitions process. The merger guidelines and the integration of efficiencies. Figure 9 collaborative economy honeycomb, version 2. 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. A congeneric merger is between firms in related but different industries, for example an airline acquiring an travel agency. Jerry gilley, major professor sharon drake larry ebbers ellen mullen. 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. Roeller impact of the new substantive test biicl 111105. Therefore, all else being equal, there is no reason to challenge the merger. Synthetic overview of the collaborative economy p2p. The judgment reinforces due process and transparency in eu merger control proceedings.
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