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The Role of Competition Authorities on Firms' Adoption on Antitrust Compliance Programs
posted by Faculty of Law for HKU and Public
Event Type: Public Lecture/Forum/Seminar/Workshop/Conference/Symposium
Event Nature: Law and Politics

Event Details

The Role of Competition Authorities on Firms' Adoption on Antitrust Compliance Programs - Empirical Evidence from Taiwan

Speaker: Professor Daniel Sokol, University of Florida

About the Lecture: A competition authority (CA) seeks to prevent violations of antitrust law and to detect such violations when they occur. One policy goal of CAs is to provide guidance to the firms that they regulate of current enforcement objectives and to reduce the legal uncertainty of certain types of business behavior. CAs improve antitrust compliance proactively via the issuance of compliance guidelines and direct outreach. Firms also to react to CA antitrust enforcement. Collectively these proactive and reactive strategies shift the policing of compliance from CAs to regulated firms. Using a two-year sample (2012 and 2016) of 432 firms drawn from the top three hundred Taiwanese enterprises, we estimate a mediation model. The model measures the effects of the CA's actions on a firm's propensity to comply with the Antitrust Compliance Programs (ACPs) and quantifies the contribution of the mediators to the overall effect of the CA's actions on a firm's adoption of an ACP. The statistical results point to a positive effect of the CA's actions on firms' adoptions of ACPs. Furthermore, the proactive actions of the CA to promote ACPs through advocacy significantly increase the propensity of a firm to set up major components of the ACP, including the establishment of ACP departments, internal controls, surveillance, reporting and consulting services to their employees. In contrast, reactive actions on the part of a given firm via case investigations related to antitrust conduct only increase a firm's adoption of the establishment of ACP departments and internal control systems. Results also suggest that the increase in antitrust awareness by regulated firms is a driver or mediator that explains the positive impact of CA's actions on firms' ACPs adoption. In addition to the actions taken by the CA, firms that are younger, have larger revenues or export to the United States and Europe (jurisdictions with stricter antitrust cartel enforcement) are more likely to create robust ACPs.

Date: 19 June 2017
Time: 1:30 – 2:30pm
Venue: Room A824, 8/F, Cheng Yu Tung Tower, HKU

About the Speaker: Professor Daniel Sokol is the co-editor of the first three volumes of the Global Competition Law and Economics book series (Stanford University Press), the Oxford Handbook of International Antitrust Economics Volumes 1and 2 (Oxford University Press, 2014), and the Global Antitrust Compliance Handbook (Oxford University Press 2014). He has two books out this year – The Cambridge Handbook of Antitrust, Intellectual Property and High Tech (Cambridge University Press, 2017) and Patent Assertion Entities and Competition (Cambridge University Press, 2017).

Date/Time19/06/2017 13:30-14:30
VenueRoom A824, 8/F, Cheng Yu Tung Tower, HKU

Registration Instruction

Registration is open from 06/04/2017 12:00(HKT) to 19/06/2017 13:30(HKT) on a first-come-first-served basis. The registration quota for this event is 40.

* Registration is now closed.

Contact Information

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