Horizontal Mergers and Innovation with Knowledge Spillovers

We introduce knowledge spillovers in a model of innovation competition a la Federico et al. (2017) and Denicolo and Polo (2018), which otherwise features horizontal mergers that harm innovation due to the business stealing effect. With knowledge spillovers, competition discourages investment in R&D due to free-riding, and by internalizing such externalities, a merger can improve the incentives for innovation. Horizontal mergers raise (reduce) innovation if the spillover effect is large (small)

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Year of publication:	[2022]
Authors:	Hwangbo, Changwoo ; Lee, Jihong
Publisher:	[S.l.] : SSRN
Subject:	Theorie \| Theory \| Wissenstransfer \| Knowledge transfer \| Innovation \| Fusion \| Merger \| Horizontale Integration \| Horizontal integration \| Spillover-Effekt \| Spillover effect

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Extent:	1 Online-Ressource (15 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 8, 2022 erstellt
Other identifiers:	10.2139/ssrn.4157051 [DOI]
Classification:	G34 - Mergers; Acquisitions; Restructuring; Corporate Governance ; L13 - Oligopoly and Other Imperfect Markets ; L40 - Antitrust Policy. General ; O30 - Technological Change; Research and Development. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013404464