informational problems. We show that, as a consequence of this trade-off, more intense competition in unregulated segments of the … can lead to a softer merger policy when competition is weaker. …

of regulation on R&D investment. Nearing competition has a dampening effect on R&D spending, but once the market and … regulatory framework conditions have been established, higher levels of competition positively influence R&D. Our results further … indicate that the relation between competition and innovative investment can be described as inverted U-shaped. Finally, we …