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Market Power versus Efficiency Effects of Mergers and Research Joint Ventures: Evidence from the Semiconductor Industry / Ralph Siebert, Klaus Gugler.
- Format:
- Book
- Author/Creator:
- Siebert, Ralph.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w10323.
- NBER working paper series no. w10323
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Market Power versus Efficiency Effects of Mergers and Research Joint Ventures
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2004.
- Summary:
- Merger control authorities may approve a merger based on a so-called 'efficiency defence'. An important aspect in clearing mergers is that the efficiencies need to be merger-specific. Joint ventures, and in particular research joint ventures (RJVs), may achieve comparable efficiencies possibly without the anti-competitive (market power) effects of mergers. We present evidence for the semiconductor industry that RJVs indeed represent viable alternatives to mergers. We empirically account for the endogenous formation of mergers and RJVs.
- Notes:
- Print version record
- February 2004.
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