acquisitions (M&As) and corporate innovation. It also identifies relevant policies implemented by countries around the world to …This paper provides both theoretical perspectives and empirical evidence on the relationship between mergers and … encourage corporate innovation activities, and discusses the experience from which policy makers and practitioners in Asia could …

's bargaining power is below a threshold. Allowing for acquisitions may improve the direction of innovation of each of the players …. Allowing for acquisitions distorts both players' incentives to allocate funding across their rival and non-rival projects. We … rival market. We show that this strategic effect dominates the usual "innovation for buyout effect" when the entrant …

Pharmaceutical firms spend increasing amounts in mergers and acquisitions (M&As), which raises the question of whether … sufficient investment is left after mergers to further develop firms' internal drug development capability. We evaluate the … effects of M&As on firms' post-merger R&D investments and drug development capabilities across drug development phases. This …

This paper studies mergers in markets where firms invest in a portfolio of research projects of different profitability … firms because it lowers the probability they win the innovation contest for that project; however, the investment of a firm … appropriable, then a merger increases consumer welfare by reducing investment in the most profitable project and increasing …

This paper studies mergers in markets where firms invest in a portfolio of research projects of different profitability … firms because it lowers the probability they win the innovation contest for that project; however, the investment of a firm …

We propose and empirically examine cross-border mergers and acquisitions (M&As) as an important dimension of firms …' innovation strategies. Our empirical analyses, based on a sample of 85,591 M&A deals from 57 countries, show that innovative … firms in low innovation countries are more likely to undertake cross-border deals, and select innovative targets when doing …

and preempt future competition. We call such acquisitions "killer acquisitions." We develop a model illustrating this … competition or distant patent expiration. Conservative estimates indicate 5.3 percent to 7.4 percent of acquisitions in our sample …This paper argues incumbent firms may acquire innovative targets solely to discontinue the target's innovation projects …

the "inverted-U" relationship between innovation and competition to a merger setting. … their innovation efforts post-merger while the outsiders to the merger respond by increasing their effort. A merger tends to … reduce overall innovation. Consumers are always worse off after a merger. Our model calls into question the applicability of …

In the past 20 years, large digital platforms have made many acquisitions, mainly young and innovative startups. Few of … them have been reviewed by competition authorities and little is known on their evolution after acquisition. This paper … this analysis, we use patent citations as a proxy for the innovation effort by the acquirer. Our main result is to show …