Haucap, Justus; Stiebale, Joel - 2013
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 … consistent with many predictions of the theoretical model. Our main result is that after a merger patenting and R\&D of the …