Avalos, MarcosDe Hoyos, Rafael E.2012-03-302012-03-302008Review of Industrial Organization0889938Xhttps://hdl.handle.net/10986/4798A newly created dataset including 239 decisions made by the Mexican Federal Competition Commission on horizontal mergers is used to estimate the different factors affecting the Commission's resolution decisions. The decision-making process has been approximated by two different discrete choice models. Our results indicate that, contrary to the Commission's objective, the presence of efficiency gains increases the probability of a case being challenged. We also find that factors different from the ones explicitly mentioned by the Commission have a significant effect upon the Commission's final decision. In particular, the presence of a foreign company among the would-be merger firms significantly increases the likelihood of observing an allowed merger.ENMergersAcquisitionsRestructuringVotingProxy ContestsCorporate Governance G340Corporate Finance and Governance: Government Policy and Regulation G380Antitrust Law K210MonopolizationHorizontal Anticompetitive Practices L410Formal and Informal SectorsShadow EconomyInstitutional Arrangements O170Journal ArticleWorld Bank