Market Power versus Efficiency Effects of Mergers and Research Joint Ventures : Evidence from the Semiconductor Industry

Ralph Siebert, Klaus Gugler

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

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Year of publication:	February 2004
Authors:	Siebert, Ralph
Other Persons:	Gugler, Klaus (contributor)
Institutions:	National Bureau of Economic Research (contributor)
Publisher:	Cambridge, Mass : National Bureau of Economic Research
Subject:	Halbleiterindustrie \| Semiconductor industry \| Marktmacht \| Market power \| Forschungskooperation \| Research collaboration \| Effizienz \| Efficiency \| Fusionskontrolle \| Merger control \| Fusion \| Merger

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Extent:	1 Online-Ressource
Series:	NBER working paper series ; no. w10323
Type of publication:	Book / Working Paper
Language:	English
Notes:	Mode of access: World Wide Web System requirements: Adobe [Acrobat] Reader required for PDF files Hardcopy version available to institutional subscribers.
Other identifiers:	10.3386/w10323 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

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