更为经济的方法:欧盟经营者集中控制实体标准论衡

More Economic Approach:The Standards of Appraisal of Merger Control in EU

实体标准是反垄断主管机关监控企业并购的核心标准和主要依据。欧盟并购反垄断审查实体标准主要经历了滥用市场支配性地位标准、市场支配性地位标准、严重妨碍有效竞争标准三个发展阶段。与此相反,美国的实质性减少竞争标准从形式上来看一直没有变化,但是其内涵与执法实践却受到了美国不同时期的经济环境、政治背景、价值观念、利益博弈等因素的影响,从而旧瓶装新酒。欧美之间这两种标准的差异在著名的波音并购麦道案、通用电气与霍尼韦尔并购案中表现极为明显,这促使了欧美控制标准的变革。欧美控制标准的变革应该置于"更为经济的方法"这一运动中得以理解。

Substantive standards are the core criteria and the main basis for the anti-monopoly authori- ties to control mergers and acquisitions of enterprises. The EU merger review substantive standards have undergone three development stages： ＂abuse of market dominance test＂, ＂market dominance test＂, ＂sig- nificant impede effective competition test＂. On the contrary, the substantive lessening of competition standards in the United States illustrates no change on the surface, but its connotation and law enforce- ment practice has been influenced by various factors such as economic environment, political background, moral values, interest conflicts and so on, then using old bottles for new wine. The difference between the two categories of standards in EU and US in the famous merger cases of Boeing/McDonnell Douglas, Gen- eral Electric EGET/Honeywell is clearly exposed, which prompted EU striving to revise the substantive merger test. The purpose of this paper is to shed some light on this shift in EU in the context of movement to ＂more economic approach＂.