Market Power Versus Efficiency Effects of Mergers and Research Joint Ventures : Evidence from the Semiconductor Industry
Merger control authorities may approve a merger based on a so-called 'efficiency defence'. An important aspect in clearing mergers is that the efficiencies need to be merger-specific. Joint ventures, and in particular research joint ventures (RJVs), may achieve comparable efficiencies possibly without the anti-competitive (market power) effects of mergers. We present evidence for the semiconductor industry that RJVs indeed represent viable alternatives to mergers. We empirically account for the endogenous formation of mergers and RJVs
Year of publication: |
[2021]
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Authors: | Siebert, Ralph ; Gugler, Klaus Peter |
Publisher: |
[S.l.] : SSRN |
Subject: | Halbleiterindustrie | Semiconductor industry | Marktmacht | Market power | Forschungskooperation | Research collaboration | Effizienz | Efficiency | Fusionskontrolle | Merger control | Fusion | Merger |
Saved in:
freely available
Extent: | 1 Online-Ressource (36 p) |
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Series: | NBER Working Paper ; No. w10323 |
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 2004 erstellt |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10013212599