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2 March 2021
Researchers Assess Student Performance in Mathematics, Physics, and Critical Thinking
A group of researchers representing four countries summed up the results of the Supertest, a large-scale study of the academic performance of engineering students in Russia, China, India, and the United States. It is the first study to track the progress of students in computer science and electrical engineering over the course of their studies with regard to their abilities in physics, mathematics, and critical thinking and compare the results among four countries. The article about study was published in Nature Human Behavior.
1 March 2021
Children's Adaptation to Online Learning Depends on the Nature of Their Parents’ Work
Specialists at the HSE Institute of Education found that the willingness of children to work independently at home during distance learning depended not only on the availability of appropriate technical means in the family (its socio-economic profile), but also on the nature of their parents’ work (a socio-psychological factor).
25 February 2021
Father’s Level of Education Affects Students’ Plans for Doctoral Studies
Saule Bekova, Research Fellow at the Centre of Sociology of Higher Education, and Ivan Smirnov, Leading Research Fellow at the Laboratory of Computational Social Sciences, studied how father’s level of education affects students’ plans to receive a doctoral degree. The article Determinants of doctoral degree aspirations: insights from a nationally representative panel study was published in HERB: Higher Education in Russia and Beyond journal.

Book

Advances in Mergers and Acquisitions

Emerald Group Publishing Limited, 2014.
Academic editor: S. Finkelstein, C. Cooper.
Chapters
Organizational Spillovers of Divestiture Activity to M&A Decision-Making
Bertrand O., Betschinger M., Petrina Y. In bk.: Advances in Mergers and Acquisitions. Emerald Group Publishing Limited, 2014. P. 65-83.
Added: Feb 17, 2015
Language: English
Keywords: mergersAcquisitions
Advances in Mergers and Acquisitions
Similar publications
Do Merger Policies Increase University Efficiency? Evidence From A Fuzzy Regression Discontinuity Design
Agasisti T., Egorov A., Maximova M. Basic research program. WP BRP. National Research University Higher School of Economics, 2020. No. 226.
This paper studies the effect of merger policies in Russia on university efficiency. We consider the non-voluntary merger policy conducted by the Ministry of Education and Science based on university performance indicators. First, the efficiency scores of universities are estimated using a bootstrapped DEA non-parametric technique. The efficiency scores were evaluated for universities that were merged and for a control group formed through propensity score matching before and after the implementation of the policy. Then, a fuzzy regression discontinuity design was implemented in order to reveal the causal impact of mergers on efficiency levels. We find a positive, statistically significant effect of merger policy on university efficiency. The results of the analysis suggest that merged universities experience greater efficiency gains (or smaller efficiency declines) after mergers.
Added: May 15, 2020
Ошибки I и II рода в сфере антимонопольного контроля сделок экономической концентрации
Шаститко А. Е. Экономическая политика. 2012. № 1. С. 95-117.

Issues of ex post evaluation of mergers and antitrust bodies prescriptions are discussed. Among them: interrelation of enactment and enforcement from the perspectives of errors of I and II types in antitrust mergers control; probable consequences of mergers for competition; Аннотации к статьям 206 тьям № 1, 2012 comparative advantages and failures of decision variants available for antitrust bodies; ways of decision-making in expected merger. Also there are issues on efficacy of antimonopoly body decisions taking into account cost of monitoring, sanctioning of mergers participants, including influence on competition condition on relevant markets.

Added: Feb 9, 2013
Remedies in BRICS Countries Are There Lessons from and for Competition Economics?.
Avdasheva S. B., Радченко Т. А. In bk.: Competition Policy for the New Era: Insights from the BRICS Countries. Oxford: Oxford University Press, 2017. Ch. 8. P. 160-172.

Within the group of BRICS, China, Russia, and South Africa use conduct remedies more often than developed jurisdictions. Remedies are applied under merger approval or as an outcome of investigation of anticompetitive conducts. Effects of conduct remedies on companies’ decisions and market performance still need explanation. This chapter explains the use of conduct remedies, with special emphasis on Russia, by specific position of BRICS in international division of labor, which allows the large companies, including and first of all domestic ones, to discriminate customers in BRICS home markets, vis-à-vis international customers. Together with positive effects on domestic customers, competition economics predicts the possibility of negative effects of remedies on the managerial decisions within the target company. Under some circumstances, remedies may even weaken competition in the global product markets.

Added: Dec 4, 2017
The empirical analysis of merger remedies’ influence on prices in Russia
Kalinina Maria. Journal of US-China Public Administration. 2013. Vol. 10. No. 9. P. 834-850.

This article explores how behavioral merger remedies of the Federal Antimonopoly Service of the Russian Federation affects the price level. The main assumption implies that issuance of price remedies by antimonopoly authority may cause downward price rigidity as a result of ratchet effect or tacit collusion. The article includes analysis of 11 mergers with behavioral remedies during the period 2006-2010 and price dynamics for 14 products. In the course of the research the hypothesis that the issuance of price remedies brought about downward price rigidity was not confirmed.

Added: Oct 16, 2013
Ожидаемое воздействие сделок слияний с участием российских и иностранных компаний на состояние конкуренции в черной и цветной металлургии в 1999–2011 гг.
Корнеева Д. В. Прикладная эконометрика. 2012. № 3. С. 70-85.

In the article we analyze the mergers between Russian and foreign companies influence on competition in metal industry. Using the event study approach confirms the statement that Russian metal suppliers have more market power in domestic market than foreign companies in their markets. Thus mergers in Russia may indeed lead to more anticompetitive consequences, negatively influencing social welfare.

Added: Sep 28, 2012
Merger Activity in the Factors of Production Segments of the Food Value Chain: A Critical Assessment of the Bayer/Monsanto merger
Katalevsky D., Lianos I. CLES Policy Paper Series. G34, K10, K21, L4, L40, Q10, Q13, Q18. Centre for Law, Economics and Society, Faculty of Laws, UCL, 2017. No. 2017/1.
The Bayer/Monsanto merger forms part of the recent wave of mega-mergers that has transformed the structure of the factors of production segments of the global food value chain in recent decades. If it is approved, it will lead to the creation of a tight oligopoly of three multinationals that will control almost 2/3 of the global production in seeds and agro-chems, as well as the valuable Big Data and IT platforms that are crucial for “smart farming”. This high level of concentration will undoubtedly lead to price rises for seeds and pesticides, the increase of the technological and economic dependence of farmers on a few global integrated one-stop shop platforms, the reduction of independent centres of innovation activity in the industry and consequently of innovation, due to reduced competition. More importantly, this merger is about control of the global food value chains as well as of the direction of the innovative effort in this industry in the next few decades. Recent technological advances enable us to envision a future away from the agro-chem model of agricultural production, with the adoption of a production model that is respectful of the environment and biodiversity, and also providing smallholders more opportunities to increase their revenue and the independence to invest in innovative ways of farming. By ensuring that the global food value chain remains tightly controlled by three mega-corporations (and their integrated platforms), the recent merger wave in this industry will lead to entrench the market power of the dominant players for the decades to come and to freeze the innovative effort to R&D that is compatible with the business model of the incumbents.
Added: Oct 23, 2017
The expected effects of mergers in metal industry: an empirical research
Tsytsulina D. In bk.: Устойчивое развитие российских регионов: Россия и ВТО: сборник статей X Международной научной конференции по проблемам экономического развития в современном мире, Екатеринбург, 19—20 апреля 2013 г.. Vol. 1. Ekaterinburg: UrFU, 2013. P. 418-421.

This article is delighted to the mergers expected influence on competition in metal industry. The results confirm the statement that Russian metal producers have more market power in domestic market in comparison with foreign companies in their markets. Thus mergers in Russia may indeed lead to anticompetitive consequences, negatively influencing metal buyers welfare. 

Added: Dec 11, 2013
THE ANCHORING EFFECT IN MERGERS AND ACQUISITIONS: EVIDENCE FROM AN EMERGING MARKET
Stepanova A. N., Malika Shaikhutdinova, Vladislav Savelyev. Basic research program. WP BRP. National Research University Higher School of Economics, 2018. No. WP BRP 63/FE/2018.
This article examines the presence of the reference price effect in mergers and acquisitions in Russia, which can act as a distortion in investor perception of the influence a deal has on a company. In this study we use the Russian market as a laboratory for the investigation of behavioral effects in a relatively inefficient market. We find a relationship between the acquirer’s announcement period return and the proximity of its pre-announcement share price to the 52-week high. The 52-week high serves as a salient anchor even though it is economically irrelevant for valuation purposes. This effect appears to be stronger for deals associated with higher levels of uncertainty. The findings confirm the presence of the anchoring bias in evaluating the effect of a merger or acquisition announcement by Russian investors. We demonstrate a significant anchoring effect even for deals with a blocking (>10%) or a controlling stake (>25%) in an emerging market with a highly concentrated ownership.
Added: Oct 17, 2018