Using Dutch data we empirically investigate how financing and innovation vary across firm characteristics. We find that … when firms face financial constraints, debt financing and innovation choices are not independent of firm characteristics …

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 … the "inverted-U" relationship between innovation and competition to a merger setting. …

This paper studies the persistence of innovation and the dynamics of innovation output in Dutch manufacturing using … firm data from three waves of the Community Innovation Surveys (CIS), pertaining to the periods 1994-1996, 1996-1998, and …

industries. The same pattern shows up in the three Dutch Community Innovation Surveys. …