Irwin, Douglas A.; Klenow, Peter J. - 2021
Sparked by concerns about their shrinking market share, 14 leading U.S. semiconductor producers, with the financial … -- in 1987. Using Compustat data on all U.S. semiconductor firms, we estimate the effects of Sematech on members' R …&D spending, profitability, investment, and productivity. In so doing we test two hypotheses: the `commitment' hypothesis that …