Merger and process innovation
نویسندگان
چکیده
Denicolò and Polo (2018) show that the result of Federico et al. (2017), i.e., horizontal mergers reduce R&D investments merged firms compared to non-cooperation, holds provided probability failure in is log-convex investments. We provide a different reason for innovation raising merger. if invest process innovation, merger may increase even as considered (2017). also expected consumer surplus welfare non-cooperation. Our results are important antitrust policies.
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ژورنال
عنوان ژورنال: Economics Letters
سال: 2022
ISSN: ['1873-7374', '0165-1765']
DOI: https://doi.org/10.1016/j.econlet.2022.110366