G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15167
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
URLhttps://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.
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