We introduce knowledge spillovers in a model of innovation competition à la Federico et al. (2017) and Denicolò and … knowledge spillovers, competition discourages investment in R&D due to free-riding, and by internalizing such externalities, a … merger can improve the incentives for innovation. Horizontal mergers raise (reduce) innovation if the spillover effect is …

assumption were held, a positive external effect of a proposed merger would represent a sufficient condition to allow the merger … theory, moreover, demonstrates that privately unprofitable mergers can be the result of rational action. Therefore, we drop … this restrictive assumption and allow for unprofitable mergers to occur. This exerts a considerable impact on merger policy …

, welchen Einfluss die räumliche Dimension auf eine Fusion ausübt. Dabei wird ein Grundmodell entwickelt und über dieses hinaus … räumlichem Wettbewerb zu erlangen. …