论扼杀式并购的反垄断法规制研究

On the Study of Antitrust Regulation of Stifling Mergers and Acquisitions

摘要: 近年来，扼杀式并购在互联网平台的兴起引发高度关注，区别于传统并购类型，扼杀式并购对相关市场以及中小企业的发展和金融秩序的稳定更能造成巨大冲击。新形势下，传统的经营者集中和并购法律规范无法精准规制这一法律行为，关于是否要对这一行为进行反垄断规制以及如何架构起完善的法律制度，有必要在阐述扼杀式并购法律特征的基础上，讨论对其进行反垄断规制的必要性，并指出现有规制手段的不足，最后从新增审查标准、转向事前预防和动态分配举证责任三方面完善既有法律框架。

Abstract: In recent years, the rise of stifling mergers and acquisitions on Internet platforms has attracted great attention, and different from traditional M&A types, stifling mergers and acquisitions can have a greater impact on the development of related markets and small and medium-sized enterprises and the stability of financial order. Under the new situation, the traditional legal norms of concentration of undertakings and mergers and acquisitions cannot accurately regulate this legal act, and it is still necessary to discuss whether to carry out anti-monopoly regulation on this behavior and how to structure a sound system. In this regard, it is necessary to discuss the necessity of anti-monopoly regulation on the basis of expounding the legal characteristics of stifling mergers and acquisitions, point out the shortcomings of existing regulatory means, and finally improve the existing legal framework from three aspects: new review standards, shift to pre-emptive prevention and dynamic allocation of the burden of proof.