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 …

This paper provides a theory of strategic innovation project choice by incumbents and start-ups. We apply this theory … innovations. Furthermore, it leads to strategic duplication of the entrant's innovation by the incumbent. These negative … innovation effects of restrictive acquisition policy have to be weighed against the pro-competitive effects of preserving …

This paper provides a theory of strategic innovation project choice by incumbents and start-ups which serves as a …, prohibiting acquisitions has a weakly negative overall innovation effect. We provide conditions determining the size of the effect …

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 …

This paper provides a theory of strategic innovation project choice by incumbents and start-ups. We apply this theory … innovations. Furthermore, it leads to strategic duplication of the entrant's innovation by the incumbent. These negative … innovation effects of restrictive acquisition policy have to be weighed against the pro-competitive effects of preserving …

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 …

resources, increase the variety of pursued projects and thereby increase the probability of discovering the innovation. RJVs … improve innovation outcomes when market competition is weak and external financing conditions are bad. An RJV may increase the … innovation probability and nevertheless lower total R&D costs. RJVs that increase innovation tend to be profitable, but …

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 …