CAJ | 학술논문

横向并购反垄断控制的核心环节是对并购可能产生的单边效应进行评估分析。传统的结构分析方法和模拟分析方法都存在着明显的不足,UPP检验能够有效弥补二者的缺陷,较为简便科学地测度横向并购可能产生的单边效应。本文在分析UPP检验基本思路的基础上,构建UPP检验的基本模型,估计了中国冰箱行业的需求系统,计算了不同品牌的需求价格弹性和转移率,分别采用UPP检验方法和结构分析方法测度了并购可能产生的单边效应,并进行了比较。结果显示,在结构分析方法中,根据市场份额计算出的转移率指标可能导致反垄断审查出现偏误,而通过设置合理的成本节约基准值后采用UPP检验所测算的单边效应较为可信。UPP检验优于传统的结构分析方法,具有较高的准确度和可操作性,可用于中国横向并购反垄断控制中的单边效应评估审查。
횡향병구반롱단공제적핵심배절시대병구가능산생적단변효응진행평고분석。전통적결구분석방법화모의분석방법도존재착명현적불족,UPP검험능구유효미보이자적결함,교위간편과학지측도횡향병구가능산생적단변효응。본문재분석UPP검험기본사로적기출상,구건UPP검험적기본모형,고계료중국빙상행업적수구계통,계산료불동품패적수구개격탄성화전이솔,분별채용UPP검험방법화결구분석방법측도료병구가능산생적단변효응,병진행료비교。결과현시,재결구분석방법중,근거시장빈액계산출적전이솔지표가능도치반롱단심사출현편오,이통과설치합리적성본절약기준치후채용UPP검험소측산적단변효응교위가신。UPP검험우우전통적결구분석방법,구유교고적준학도화가조작성,가용우중국횡향병구반롱단공제중적단변효응평고심사。
The key step of anti-monopoly control is to evaluate the potential unilateral effects of horizontal mergers Traditional structural method and merger simulation have obvious shortages. UPP test can make up for the defects of the two methods effectively, which is a relatively simple, convenient and scientific method to measure unilateral effects of horizontal mergers. Based on the UPP test, this paper constructs the basic model, estimates the demand system of the refrigerator industry and calculates price elasticity of demand and division ratio of different brands. UPP test and structure analysis method are used to measure and compare the unilateral effects of mergers respectively. Results show that division ratio calculated according to market share and structure analysis method may lead to antitrust review deviation, and more importantly, unilateral effects measured by UPP test can be more credible by setting a reasonable cost saving reference value. UPP test is better than the traditional structural method, and has higher accuracy and operability