Kapitalfondes opkøb af butikskæder: Tilfældet Matas

Arbeitspapier

According to the Competition Act, a merger that impedes eective competition signi cantly, in particular by creating or strengthening a dominant postition, shall be prohibited. To decide whether this is the case the authorities need a quanti able model of the relationship between the variables that are directly aected by the merger and some measure of competition. In this paper we set up and calibrate a simple model of the interaction of the retail and the wholesale markets for high-end cosmetics in Denmark based on the Matas case. The model predicts that the acquisition of Matas - comprising roughly half of the market for high end cosmetics - may have a significant on retail prices and that the authorities had good reasons for making its approval conditioned on the removal of a number of contract-based barriers to entry. Analytically the main results are: (1) In a linear model with constant marginal costs the optimal wholesale prices are unexpected by the structure in the retail sector. (2) The ect on of buyer-power induced quantity dioscounts depends on the speci c design of the scheme: A relative discount on the list price the independent shops are charged increases the average retail price; A xed reduction relative to the pre-merger price reduces the average retail price). (3) Buyer-power induced retail price maintenance (RPM) increases the average retail price. RPM increases the competitiveness and pro ts of the merged shops if producers keep whole-sale prices unchanged. If, however, the producers adjust their wholesale prices, then RMP hurts merged and independent shops alike and benefits only the producers.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Working paper ; No. 6-2007

Klassifikation und Themen

• Klassifikation: Wirtschaft ; General Financial Markets: General (includes Measurement and Data)

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Blomgren-Hansen, Niels
• Ereignis: Veröffentlichung
• (wer): Copenhagen Business School (CBS), Department of Economics
• (wo): Frederiksberg
• (wann): 2007

Weitere Informationen

• Handle: http://hdl.handle.net/10419/208538
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ