کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5067075 1372566 2012 19 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Entrepreneurial innovations, competition and competition policy
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Entrepreneurial innovations, competition and competition policy
چکیده انگلیسی

We construct a model where an entrepreneur can innovate for entry or for sale. It is shown that increased product market competition tends to increase the relative profitability of innovation for sale. Increased competition not only reduces the profits of entrants and the acquirer of the inventions in a similar fashion, but also reduces the profit of non-acquirers. Therefore, incumbents' valuations of innovations are less negatively affected by increased competition, and the incentive for innovation for sale can increase with increased competition. Moreover, a stricter, but not too strict, merger policy is shown to increase the incentive for innovations for sale by ensuring the bidding competition for the innovation.

► Constructed a model where an entrepreneur can innovate for entry or for sale. ► Increased competition increases the profitability of innovation for sale relative to for entry. ► Stricter merger policy increases incentive for innovations for sale by ensuring bidding competition. ► Incentive for innovation for sale can increase in competition when firms' profits decrease in competition.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: European Economic Review - Volume 56, Issue 3, April 2012, Pages 488-506
نویسندگان
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