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Book part
Publication date: 18 April 2015

Flavio Felice and Massimiliano Vatiero

It is often “assumed,” even among well-informed lawyers and economists, that European competition law is an emulation of the US antitrust law because of American influence…

Abstract

It is often “assumed,” even among well-informed lawyers and economists, that European competition law is an emulation of the US antitrust law because of American influence on European political and economic debates after the Second World War. However, such an assumption is disputable: in accordance with Professor Gerber, the competition law in Europe is an indigenous product based primarily on ideas developed in Germany by the so-called ordoliberal thought. In this respect, the article 102 TFEU may be considered a proof. The aims of this article are to furnish a critical examination of ordoliberal ideas of anticompetitive conducts and underline the relevance of ordoliberal thought for the development of the modern European competition law.

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A Research Annual
Type: Book
ISBN: 978-1-78441-154-1

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Article
Publication date: 8 October 2021

Yong Tan, Vincent Charles, Doha Belimam and Shabbir Dastgir

This study investigates the interrelationships between efficiency, competition and risk in the Chinese banking industry.

Abstract

Purpose

This study investigates the interrelationships between efficiency, competition and risk in the Chinese banking industry.

Design/methodology/approach

Parametric stochastic frontier analysis is used to estimate bank efficiency; the Lerner index is used as the competition indicator; accounting ratios and a translog function are used to measure different types of risk and finally, the three-stage least square estimator is used to investigate the interrelationships.

Findings

The results of this study show that the impact of competition on different types of risk is significant and positive, while there is a significant and positive impact of credit risk, liquidity risk and capital risk on bank competition. In addition, the findings demonstrate that the interrelationships between efficiency and competition are significant and negative. The authors do not find any robust interrelationships between different types of risk and different types of efficiency; the authors find that diversification and higher levels of profitability reduce bank credit risk. The results suggest that a higher developed banking sector reduces the level of bank competition in China.

Originality/value

This is the first piece of research that comprehensively investigates the interrelationships between different types of risk, competition and different efficiencies in China.

Details

Asian Review of Accounting, vol. 29 no. 4
Type: Research Article
ISSN: 1321-7348

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Article
Publication date: 11 October 2021

Nam Ho

Fears over public accounting becoming increasingly concentrated have inspired several attempts to study the relationship between competition and audit quality. These…

Abstract

Purpose

Fears over public accounting becoming increasingly concentrated have inspired several attempts to study the relationship between competition and audit quality. These studies have yielded conflicting results without a clear reason as to why. This paper aims to propose a new approach and empirically demonstrate a non-monotonic association between competition and audit quality.

Design/methodology/approach

Using metropolitan statistical area level data from the USA over the period of 2000–2014, the author shows that the effect that changes in the competition will have on audit quality depends upon the current competitive state of the market.

Findings

Audit quality is at its highest level when competition is neither too high nor too low. In addition, the point of inflection at which competition turns from being helpful to harmful is influenced by the saturation of the Big 4 auditors in the market.

Practical implications

These findings can help explain the mixed results of the literature and provide insight into the role that regulators can play in modulating competition.

Originality/value

This is the first paper to document a non-monotonic relationship between competition and audit quality. By introducing and exploring the validity of a non-monotonic component in the audit quality equation, the authors can better determine, which competitive structures generate desired levels of audit quality.

Details

Managerial Auditing Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0268-6902

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Article
Publication date: 5 October 2021

Todd Kuethe, Chad Fiechter and David Oppedahl

This study examines agricultural lending by commercial banks and the competition they face from the Farm Credit System (FCS) and non-traditional lenders, including…

Abstract

Purpose

This study examines agricultural lending by commercial banks and the competition they face from the Farm Credit System (FCS) and non-traditional lenders, including merchants, dealers and other input suppliers.

Design/methodology/approach

We construct a measure of commercial banks' perceived competition with FCS or non-traditional lenders using the individual responses to the Federal Reserve Bank of Chicago's Land Values and Credit Conditions Survey between 1999 and 2019. Through regression analysis of an unbalanced panel of survey responses, we present a number of stylized facts on the relationship between perceived competition and farm loan rate spreads, collateral requirements, loan delinquencies and expected lending volumes.

Findings

Our analysis shows that the two sources of competition have very different effects on commercial bank lending terms, loan portfolio riskiness and expected loan volumes. With these results in mind, we offer a number of suggestions for future research.

Originality/value

We leverage the unique characteristics of the Land Values and Credit Conditions Survey to examine the competition with non-traditional lenders that cannot be observed using administrative data.

Details

Agricultural Finance Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0002-1466

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Article
Publication date: 29 September 2021

Nicholas Addai Boamah, Augustine Boakye-Dankwa and Emmanuel Opoku

The study examines the dynamic association between competition, risk-taking, performance and income diversification of frontier and emerging economy (FEE) banks. It…

Abstract

Purpose

The study examines the dynamic association between competition, risk-taking, performance and income diversification of frontier and emerging economy (FEE) banks. It additionally, explores the effect of banking sector depth and economic performance on the level of competition, performance and risk-taking behavior of banks in these economies.

Design/methodology/approach

The paper adopts a panel vector auto-regressive technique and collects data across ninety (90) FEEs.

Findings

The paper finds that competition increases with improvement in the depth of the banking sector, a surge in risk-taking behavior and the adoption of focused strategy by banks. Similarly, income diversification activities are driven by competition, banking sector depth, the state of the economy and bank performance. Additionally, risk-taking behavior, banking sector depth and the state of the economy are relevant in describing bank performance. Also, risk-taking behavior is influenced by bank performance, banking sector depth and economic growth.

Originality/value

The evidence indicates that although competition improves banking sector health, excessive competition and non-competitive banking environment constrain banks’ performance and stability.

Details

Asian Journal of Economics and Banking, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2615-9821

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Article
Publication date: 4 August 2021

Paula Castro Pires de Souza Chimenti, Marco Aurelio de Souza Rodrigues, Marcelo Guedes Carneiro and Roberta Dias Campos

Through a literature review, a gap has been identified regarding the role of competition as a driver of social network (SN) usage. This study aims to design to address…

Abstract

Purpose

Through a literature review, a gap has been identified regarding the role of competition as a driver of social network (SN) usage. This study aims to design to address this gap, seeking motivators for SN usage based on how SN consumption may be related to users’ experience of competition. Therefore, the purpose of this study is to investigate the influence of competition in social media usage.

Design/methodology/approach

The authors used an exploratory qualitative approach, conducting a set of focus groups with young social media users. Data was analyzed with software.

Findings

Two new drivers for SN use are proposed, namely, competition and collective narrative.

Research limitations/implications

This is an exploratory study, and it does not seek to generalize results or quantify causal relationships among variables.

Practical implications

This paper offers SN managers a deeper understanding of key growth drivers for these media.

Social implications

This research can help society understand and debate the impacts of SNs on users’ lives, providing insights into drivers of excessive usage.

Originality/value

This paper proposes the following two SN usage drivers yet to be described in the literature: competition and collective narrative.

Details

Qualitative Market Research: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1352-2752

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Article
Publication date: 9 August 2021

Donghong Li, Zhenning Yang, Pengcheng Ma and Hang Chen

The purpose of this paper is to document the relationship between intra-group coopetition and subsidiaries' innovation performance and the moderating impact of the…

Abstract

Purpose

The purpose of this paper is to document the relationship between intra-group coopetition and subsidiaries' innovation performance and the moderating impact of the intensity of external competition.

Design/methodology/approach

Data were collected from 75 subsidiaries in China through a questionnaire survey of their R&D and general managers. The total number of individual respondents was 205. We tested our hypothesis by using ordinary least squares regression.

Findings

Intra-group cooperation was found to promote a subsidiary's performance in product and process innovation. Intra-group competition was found to have a U-shaped relationship with product and process innovation. Intra-group cooperation strengthens the U-shaped relationship between intra-group competition and process innovation.

Research limitations/implications

This study involved firms from more than one industry. Studies of specific industries might reach more specific conclusions. And all of the data were self-reported by the managers of the firms concerned. Future studies would be well-advised to consider more objective data describing pairs of parent firms and subsidiaries.

Practical implications

Subsidiaries ought to build their internal networks to cooperate with each other. That can bring significant advantages in terms of information and synergy in innovation. Subsidiaries are also suggested to take full advantage of the opportunities that intra-group competition brings.

Originality/value

This study is the first one to explore coopetition phenomenon in the context of business group. By taking Chinese business group subsidiaries as the research samples, this research not only extends the coopetition research but also reveals that cooperation and competition are co-existed and exert influence in subsidiaries.

Details

Management Decision, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 11 August 2021

Mary Catherine Lucey

This paper aims to draw attention to a broad range of experimental institutional initiatives which operate in the absence of a global antitrust regime. The purpose of this…

Abstract

Purpose

This paper aims to draw attention to a broad range of experimental institutional initiatives which operate in the absence of a global antitrust regime. The purpose of this paper is to offer food for thought to scholars in other fields of international trade law facing challenges from divergent national regimes.

Design/methodology/approach

Taking inspiration from political science literature on institutions, this paper crafts a broad analytical lens which captures various organisational forms (including networks), codes (including soft law) and culture (including epistemic communities). The strength and shortcomings of traditional “bricks and mortar” institutions such as the European Union (EU) and General Agreement Tariffs and Trade/World Trade Organisation are first examined. Then, the innovative global network of International Competition Network (ICN) is analysed.

Findings

It highlights the value of the global antitrust epistemic community in providing a conducive environment for extensive recourse to “soft law”. Examples from the EU and the ICN include measures which find expression in enforcement tools and networks. These initiatives can be seen as experimental responses to the challenges of divergent national antitrust regimes.

Research limitations/implications

It is desktop research rather than empirical field work.

Practical implications

To raise awareness outside the antitrust scholarly community of the variety of experimental institutional initiatives which have evolved, often on a soft law basis, in response to the challenges experienced by national enforcement agencies and businesses operating in the absence of a global antitrust regime.

Originality/value

It offers some personal reflections on the ICN from the author’s experience as a non-governmental advisor. It draws attention to the ICN’s underappreciated range of educational materials which are freely available on its website to everyone. It submits that the ICN template offers interesting ideas for other fields of international trade law where a global regime is unrealisable. The ICN is a voluntary virtual network of agencies collaborating to agree ways to reduce clashes among national regimes. Its goal of voluntary convergence is portrayed as standardisation rather than as absolute congruence. Even if standardisation of norms/processes is too ambitious a goal in other fields of international trade law, the ICN model still offers inspiration as an epistemic community within an inclusive and dynamic forum for encouraging debate and creating a culture of learning opportunities where familiarity and trust is fostered.

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Article
Publication date: 1 August 2001

Richard E. Wagner

The Theory of Economic Equilibrium was written in the period of what George Shackle calls the “Years of High Theory”. Unlike the works that Shackle discusses, da Empoli’s…

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Abstract

The Theory of Economic Equilibrium was written in the period of what George Shackle calls the “Years of High Theory”. Unlike the works that Shackle discusses, da Empoli’s volume received little attention and played no part in shaping the analytical formulations of the time. The Theory of Economic Equilibrium offered an alternative to the then conventional approach to the treatment of competition as an adjective. For da Empoli, competition was a rivalrous process, a verb. It is arguable that had da Empoli’s formulations found their way into the literature of the time, the recent revival of interest in competition as a process would now be at a more advanced state.

Details

Journal of Economic Studies, vol. 28 no. 4/5
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 8 June 2012

Diego Fornaciari and Stefaan Callens

Competition rules maximise consumer welfare by promoting efficient use of scarce resource and thus high output, low prices, high quality, varied services, innovation…

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940

Abstract

Purpose

Competition rules maximise consumer welfare by promoting efficient use of scarce resource and thus high output, low prices, high quality, varied services, innovation, production and distribution. European courts consider doctors and hospital staff as undertakings (any entity that performs economic activities), so that if they enter into agreements then they have to comply with competition rules. This paper's objective is to determine whether competition law, which applies to undertakings, can in fact be applied to different healthcare‐sector players and whether specific rules are needed regarding competition between healthcare undertakings.

Design/methodology/approach

Data were selected from relevant European and national case law, European institution legal documents (such as regulations, guidelines and communications) and healthcare competition law literature, and then examined.

Findings

The paper finds that competition rules are applicable to healthcare players considering the consequences if competition rules are applied to the healthcare market. For market processes to result in the appropriate cost, quality and output, competition law must be proactive. In other words, quality must be fully factored into the competitive mix, allowing consumers to weigh healthcare price and non‐price characteristics.

Research limitations/implications

Countries have different healthcare system and competition rules (although similar), competition rule impact is different for each country. Some healthcare systems are more regulated and there will be less opportunity for healthcare players to compete.

Practical implications

Efficiently applying competition law to healthcare players means that several challenges need facing, such as healthcare quality complexity and court scepticism.

Originality/value

This article points out the challenges when competition law is applied to the healthcare sector and how these challenges are faced in certain countries such as The Netherlands.

Details

International Journal of Health Care Quality Assurance, vol. 25 no. 5
Type: Research Article
ISSN: 0952-6862

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