Fons-Rosen, Christian; Roldan-Blanco, Pau; Schmitz, Tom - 2022 - This version: December 9, 2022
startups just to "kill" their ideas, and acquisitions can erode incumbents' own innovation incentives. Our paper aims to assess …. Our calibrated model implies that acquisitions raise the startup rate, but lower incumbents' own innovation as well as the …