parameters, such a strategic distortion may result in an alignment or a misalignment of the direction in which innovation goes … relative to what is socially optimal. Moreover, prohibiting acquisitions may increase or decrease consumer surplus. The more …, the more likely is that consumers benefit (suffer) following an acquisition. These results are robust to acquisitions …

This paper analyzes the effects of cross-border mergers and acquisitions (M&As) on the innovation of European firms …. The results indicate a considerable increase in post-acquisition innovation in the merged entity. This is mainly driven by … inventors based in the acquirer's country, while innovation in the target's country tends to decline. The asymmetry of effects …

effect of mergers on innovation and future price competition; and reviews the empirical literature on competition, mergers …A proposal for moving from price-centric to innovation-centric competition policy, reviewing theory and evidence on … economic incentives for innovation. Competition policy and antitrust enforcement have traditionally focused on prices rather …

number of citations to patents. Thus managers who are protected from takeover market perform worse on innovation. However … innovation. Empirical results indicate that an increase in antitakeover provisions is negatively related to number of patents and …, the negative relation between antitakeover provisions and firm innovation holds only for low-tech firms. For high …

We find a positive relation between mergers and acquisitions (M&A) activity of a firm and its subsequent innovation … innovation appears at least as significant as that between R&D and innovation. To identify causality between M&A activity and … innovation, we compare the innovation output of failed acquirers to that of successful acquirers and find that failed acquirers …

We consider mergers in an innovation contest between n firms in the presence of synergetic effects. We assume that a … merger may affect the R&D efficiency of the merging firm due to increasing returns to scale in R&D. We show that mergers are … spillovers, we show that higher efficiency gains are needed to make the merger profitable …

of the merger-innovation link is sparse. The aim of this paper is to analyze the impact of mergers on innovative …Both mergers and innovation are central elements of a firm s competitive strategy. However, model-theoretical analysis … mergers ; innovation ; research joint venture ; market structure …