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 …

literature, which focuses only on the level of investment in innovation, this model captures both the variety of research …

Contrary to most of the literature, which focuses only on the level of investment in innovation, this paper examines …

This paper provides a theory of strategic innovation project choice by incumbents and start-ups. We show that … prohibiting killer acquisitions strictly reduces the variety of innovation projects. By contrast, we find that prohibiting other … acquisitions only has a weakly negative innovation effect, and we provide conditions under which the effect is zero. Furthermore …