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In the last decades, technologies became more complex which increased the degree of uncertainty in R&D. To overcome the uncertainty, firms frequently engage in R&D collaborations, e.g., Research Joint Ventures (RJVs), and licensing agreements. While RJVs are well explored in the literature, very...
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"This paper examines the impact of mergers on default risk, finding that, on average, a merger increases the default … prior to a merger announcement. We also demonstrate higher levels of default risk are not accompanied by higher post- merger …
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