论横向并购规制中的反垄断审查实体标准

【作者】 冯欣；

【导师】 丁丁；

【作者基本信息】 对外经济贸易大学 ， 国际法学， 2007， 硕士

【摘要】 作为反垄断法规制的三大支柱内容之一,企业集中特别是企业之间的横向并购越来越成为监管机关所关注的焦点。而反垄断审查制度作为企业并购控制的核心制度也随着欧美各国企业并购的发达和对应立法司法实践的发展而逐渐趋向透明和完善。作为该制度的核心内容,反垄断审查的实体标准解决的首要问题就是判断企业并购所造成的垄断效应(反竞争效果),从而决定是否对并购采取进一步的规制措施。鉴于我国于2006年8月出台的《外国投资者并购境内企业规定》(“《并购新规》”)中也对该实体标准做出规定,但相关的配套适用制度尚属空白。由于实体标准及其具体适用包含了对各种因素的分析,因此本文在开展此论题时,紧紧围绕着我国的并购现实环境和反垄断立法现实,以《并购新规》为基础,确定进行比较分析的范围。本文首先从该实体标准的基础分析入手,分析欧美并购发达国家是如何设定实体标准,从而找出设定该实体标准的立法趋势,同时对《并购新规》的实体标准进行简要点评,指出其缺陷并提出笔者的修改建议。其次本文分析了西方各国在具体适用该标准时的若干要素,鉴于我国反垄断立法现实,特别是并购的现实环境,重点分析了欧美各并购发达国家应用此标准时的分析起点——相关市场和市场集中度,这种分析也呼应了2007年3月商务部刚刚出台了《外国投资者并购境内企业反垄断申报指南》所关注的焦点,即对相关市场和市场集中度的分析。最后本文分析了对该标准具体适用时的两项例外抗辩——效率抗辩和破产企业抗辩,这也是为了呼应《并购新规》所规定的两项反垄断审查豁免条件——重组企业并保障就业和引进先进技术提高企业国际竞争力,为监管机关如何更好地理解并执行这两项反垄断审查豁免条件提供借鉴。更多还原

【Abstract】 As a basic aspect under the antitrust law system, control of concentration between the enterprises (Merger Control) has been under scrutiny by the antitrust authorities throughout the world. The antitrust review as the core content of Merger Control system has become more transparent and scientific along with the development of Mergers practice in the Europe and U.S.A. When conducting antitrust review, the substantive test is used to appraise the anti competition effect in a merger case so as to decide which measure be taken to control such merger (e.g. forbidding the merger, or other corrective measures such as spin-off).As the Chinese Merger Control System is far from perfect, this paper intends to analysis the substantive test used in the Europe and U.S.A from the following aspects so as to offer some beneficial implications to the construction of our own Merger Control legal system:The basic analysis of the substantive test and the relevant legislative trendThe application of the substantive test, such as the determination of relevant market, the calculation of market concentration extent and the recent hot topic of non-coordinative effect (unilateral effect).The efficiency defense and the failing firm defense for Merger ControlIt shall be noted that the above content (excluding unilateral effect) is also regulated in the newly issued Administrative Regulations in Merger of Domestic Enterprise by Foreign Investors (“New Merger Regulation”). So the paper will, based on the analysis of the above content, point out the disadvantages of the New Merger Regulation and offer a constructive suggestion.更多还原