This paper provides a theory of strategic innovation project choice by incumbents and start-ups. We apply this theory … to identify the effects of prohibiting start-up acquisitions. We differentiate between killer acquisitions (when the … incumbent does not commercialize the acquired start-up's technology) and acquisitions with commercialization. A restrictive …

foundation for the analysis of acquisition policy. We show that prohibiting acquisitions has a weakly negative innovation effect … analyze the effects of less restrictive policies, including merger remedies and the tax treatment of acquisitions and initial …This paper provides a theory of strategic innovation project choice by incumbents and start-ups which serves as a …

, prohibiting acquisitions has a weakly negative overall innovation effect. We provide conditions determining the size of the effect …, including merger remedies and the tax treatment of acquisitions and initial public offerings. Such interventions tend to prevent …This paper provides a theory of strategic innovation project choice by incumbents and start-ups which serves as a …

foundation for the analysis of acquisition policy. We show that prohibiting acquisitions has a weakly negative innovation effect … further analyze the effects of less restrictive policies, including merger remedies and the tax treatment of acquisitions and …This paper provides a theory of strategic innovation project choice by incumbents and start-ups which serves as a …

prohibiting killer acquisitions strictly reduces the variety of innovation projects. By contrast, we find that prohibiting other … acquisitions only has a weakly negative innovation effect, and we provide conditions under which the effect is zero. Furthermore …, for both killer and other acquisitions, we identify market conditions under which the innovation effect is small, so that …

prohibiting killer acquisitions strictly reduces the variety of innovation projects. By contrast, we find that prohibiting other … acquisitions only has a weakly negative innovation effect, and we provide conditions under which the effect is zero. Furthermore …, for both killer and other acquisitions, we identify market conditions under which the innovation effect is small, so that …

” commercialization. However, when focusing on downstream industry segments that bring patented technologies to market—“innovation” in an … efficiencies of size, and significant merger and acquisition activity. It also argues that several common “fragmentation drivers … concentration ultimately harms innovation, efficiency, consumer welfare, and democratic representation. It argues that patent law …

This papers analyses how horizontal mergers affect innovation activities of the merged entity and its non … predicts that a merger is more likely to be profitable in an innovation intensive industry. For a high degree of firm … heterogeneity a merger reduces innovation in both the merged entity and in non-merging competitors in an industry with high R …

prohibiting killer acquisitions strictly reduces the variety of innovation projects. By contrast, we find that prohibiting other … acquisitions only has a weakly negative innovation effect, and we provide conditions under which the effect is zero. Furthermore …, for both killer and other acquisitions, we identify market conditions under which the innovation effect is small, so that …

acquisitions (M&As) and corporate innovation. It also identifies relevant policies implemented by countries around the world to …This paper provides both theoretical perspectives and empirical evidence on the relationship between mergers and … encourage corporate innovation activities, and discusses the experience from which policy makers and practitioners in Asia could …