| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12511 |
| DP12511 Duplicative research, mergers and innovation | |
| Vincenzo Denicolò; Michele Polo | |
| 发表日期 | 2017-12-15 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We show that in the model of Federico, Langus and Valletti (2017) [A simple model of mergers and innovation, Economics Letters, 157, 136-140] horizontal mergers may actually spur innovation by preventing duplication of R&D efforts. This possibility is more likely, the greater is the value of innovations, the less rapidly diminishing are the returns to R&D, and the more highly correlated are the R&D projects of different firms. Federico, Langus and Valletti (2017) do not obtain this result because they focus only on the case in which the merged firm spreads total R&D expenditure evenly across the individual research units of the merging firms -- a strategy which is optimal, however, only if the returns to R&D diminish sufficiently rapidly. |
| 主题 | Industrial Organization |
| 关键词 | Horizontal mergers Innovation |
| URL | https://cepr.org/publications/dp12511 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541322 |
| 推荐引用方式 GB/T 7714 | Vincenzo Denicolò,Michele Polo. DP12511 Duplicative research, mergers and innovation. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
