Lear - Economic Consultancy

📣 We are pleased to announce that the report "𝐄𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐀𝐬𝐩𝐞𝐜𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐞 𝐨𝐟 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞 𝐄𝐔” has been published by the European Commission. The report was prepared by a consortium of firms led by Lear - Economic Consultancy and comprising E.CA Economics, FIDERES, Prometeia, University of East Anglia, and Verian Group. Our report contributes to the Commission's report "𝐏𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐢𝐧 𝐚 𝐂𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐖𝐨𝐫𝐥𝐝”, which will be presented on June 27 at a conference hosted by EU Competition Policy. Our report, the Commission’s report and information on the conference are available below: 👉 OUR REPORT https://bit.ly/4cC8dmE 👉 COMMISSION REPORT https://bit.ly/3L1Dbch 👉 CONFERENCE https://bit.ly/3XDCKw9 The report includes five chapters. Chapter 1, prepared by Lear, and in particular by our Partner Salvatore Nava and Consultant Elena Salomone, with support from Prometeia, describes the available evidence on how, over the past few decades, competition across markets in the EU seems to have weakened: industry concentration and markups have increased, while the gap between market leaders and followers has widened and business dynamism has declined. Chapter 2, prepared by the University of East Anglia and Fideres, along with a team of researchers from academia, provides evidence that higher market concentration is generally associated with higher prices in six sectors of economic activity: mobile telecom, airlines, beer, mortgages, modern consumer retail and cement. For mobile telecoms and airlines, the report includes original empirical analyses that allow to infer a causal effect of market concentration on prices and other outcomes. Chapter 3, prepared by ECA Economics, provides an analysis of the evolution of “Global Superstars” – the most profitable of the world’s largest firms – and finds that their profit rates have increased significantly over the last 25 years, and that the distribution of profits has become more skewed. Chapter 4, led by Lear Senior Advisor Elena Argentesi and Consultant Livia De Simone, informs the debate on the interplay between domestic competition and export competitiveness. A survey of EU-based exporting firms, conducted by Verian, suggests that effective domestic competition within the Single Market is an important driver of their global export competitiveness and does not constrain their scale. Finally, chapter 5, prepared by Prometeia, provides original estimates of the costs of non-competition to the wider economy. Relying on own estimates of markups, the report shows that effective competition brings about sizeable macro-economic benefits, positively affecting investment, employment, productivity and GDP growth. The study was coordinated by Lear, and in particular by Salvatore Nava and Elena Salomone, with support from leading scholar Tomaso Duso.

Are you a Senior Manager or In-house Company Counsel? Share your insights with us and contribute to improving EU competition policy. For the European Commission’s #DG COMPETITION, Verian and Lear - Economic Consultancy are conducting an EU-wide survey of business executives and in-house legal counsels, as part of a broader policy study on the effects of EU competition enforcement on business behaviour. The study seeks to assess the extent to which companies consider the risk of competition law enforcement when making business decisions; and the ways in which they adjust their market behaviour accordingly. Click here to access the survey - https://lnkd.in/eAwrsaTG Completing the questionnaire will take about 15 minutes. #Competition #EUCompetition #EUregulation #EUBusiness #VerianData

👉 Check out some snippets of the agenda for the fourth edition of the Lear Competition Festival. Discover event details, speaker information, and the latest news! ➡ Join us in Rome and reserve your tickets at https://bit.ly/4ang0DH #LCF24 #Antitrust #Competition #Regulation #Competitionlaw #Economics

We are pleased to announce our involvement in the Phase 2 merger, approved by the Italian Competition Authority (Autorità Antitrust), concerning the acquisition of Sammontana S.p.A. and Forno d’Asolo S.p.A. by Frozen Investment S.à.r.l. and Sammontana Finanziaria S.r.l. In collaboration with the law firms Chiomenti, Bird & Bird, and BonelliErede, as well as the consultancy firm Oxera Consulting LLP, we addressed the competitive concerns raised by the AGCM regarding the production and distribution market of frozen viennoiserie. Together, we successfully defined suitable remedies to mitigate these concerns. #merger #antitrust #autorità #acquisition #competition

📣 We are pleased to welcome Enrico Aprilis and Tommaso Carbonara to our team! They have joined Lear as Junior Consultants, and we are confident they will contribute significantly to our work. We look forward to working with them and seeing all that we will achieve together.

We are pleased to share an overview of our latest engagements and future projects at Lear. 👉 Enjoy reading and keep up to date with our news at https://bit.ly/3PjXDrg #Antitrust #CompetitionLaw #Economics #StateAid #Mergers #Regulation #LCF24

Are you seeking an opportunity to showcase a competition proposal in an international setting? Look no further than the PosterSession at the Lear Competition Festival (LCF)!

Great conference last week at DG Competition to discuss the Commission’s report 𝑃𝑟𝑜𝑡𝑒𝑐𝑡𝑖𝑛𝑔 𝑐𝑜𝑚𝑝𝑒𝑡𝑖𝑡𝑖𝑜𝑛 𝑖𝑛 𝑎 𝑐ℎ𝑎𝑛𝑔𝑖𝑛𝑔 𝑤𝑜𝑟𝑙𝑑. We are proud to have contributed to the report, and the conference, with our support study 𝐸𝑥𝑝𝑙𝑜𝑟𝑖𝑛𝑔 𝐴𝑠𝑝𝑒𝑐𝑡𝑠 𝑜𝑓 𝑡ℎ𝑒 𝑆𝑡𝑎𝑡𝑒 𝑜𝑓 𝐶𝑜𝑚𝑝𝑒𝑡𝑖𝑡𝑖𝑜𝑛 𝑖𝑛 𝑡ℎ𝑒 𝐸𝑈. The reports sparked interesting discussions on, inter alia, how competition has evolved, if and how competition law enforcement – and competition policy more broadly – need to adapt to meet these challenges, the interplay between competition and competitiveness and the role of industrial policy. The recording of the conference is available here: https://bit.ly/4cDkDLd The discussion will continue at the Lear Competition Festival (LCF), which will host a plenary session featuring the key members of the consortium that prepared the Lear report. More information about the program and how to register is available here: https://bit.ly/3RZxdgD #ProtectingCompetitionConference #Competition #Antitrust #LCF24

📣 Tomorrow, DG Competition will present their 𝐏𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐢𝐧 𝐚 𝐂𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐖𝐨𝐫𝐥𝐝 - 𝐄𝐯𝐢𝐝𝐞𝐧𝐜𝐞 𝐨𝐧 𝐭𝐡𝐞 𝐄𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐨𝐟 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞 𝐄𝐔 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐩𝐚𝐬𝐭 𝟐𝟓 𝐲𝐞𝐚𝐫𝐬 report. 👉 Lear is proud to have contributed to DG Competition’s report through the 𝐄𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐀𝐬𝐩𝐞𝐜𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐞 𝐨𝐟 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞 𝐄𝐔 study, carried out in collaboration with a consortium of consultants and academics. 🔗https://bit.ly/4cC8dmE Do not miss this event! #ProtectingCompetitionConference #EUCompetition #Conference

Get an exclusive preview of what’s coming up at the fourth edition of the Lear Competition Festival (LCF). Find the details on events, speakers, and updates! . . 👉 Until 𝐉𝐮𝐧𝐞 𝟐𝟖, you can benefit of our Early Bird offer and receive a 𝟐𝟎% 𝐝𝐢𝐬𝐜𝐨𝐮𝐧𝐭 on the four-day pass tickets at https://bit.ly/4ang0DH #LCF24 #Economics #Antitrust #Competitionlaw #Regulation #International #Conference #YTCA #PosterSession