Antitrust, Mergers, and Competition • Large corporations are capable of wielding much influence because of the central functions they perform in their respective societies and throughout the world. Corporate power is legitimate when used to affirm broad public purposes, but may also be abused. • The objectives of antitrust and competition laws in all countries are to protect consumers, small businesses, and others from unfair, anticompetitive practices. • Courts and regulators have generally maintained that monopoly does not in itself constitute a violation of antitrust laws; what is important is whether a company has competed unfairly. Other key issues include how to use antitrust policy to foster innovation and national competitiveness. • The key causes of mergers and acquisitions in recent years were technological change, globalization, shifts in the regulatory environment, and increases in stock valuations. Some believed that mergers were good for stockholders and other stakeholders, while others
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