| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15167 |
| DP15167 Killer Acquisitions and Beyond: Policy Effects on Innovation Strategies | |
| Igor Letina; Armin Schmutzler; Regina Seibel | |
| 发表日期 | 2020-08-14 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | This paper provides a theory of strategic innovation project choice by incumbents and start-ups which serves as a foundation for the analysis of acquisition policy. We show that prohibiting acquisitions has a weakly negative innovation effect. We provide conditions determining the size of the effect and, in particular, conditions under which it is zero. We further analyze the effects of less restrictive policies, including merger remedies and the tax treatment of acquisitions and initial public offerings. Such interventions tend to prevent acquisitions only if the entrant has sufficiently high stand-alone profits. |
| 主题 | Industrial Organization |
| 关键词 | Innovation Killer acquisitions Merger policy Potential competition Start-ups |
| URL | https://cepr.org/publications/dp15167-1 |
| 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/544135 |
| 推荐引用方式 GB/T 7714 | Igor Letina,Armin Schmutzler,Regina Seibel. DP15167 Killer Acquisitions and Beyond: Policy Effects on Innovation Strategies. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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