TY - JOUR
T1 - Mergers and innovation: Evidence from the hard disk drive market
AU - Bennato, Anna Rita
AU - Davies, Stephen
AU - Mariuzzo, Franco
AU - Ormosi, Peter
PY - 2021/6
Y1 - 2021/6
N2 - This paper is a retrospective evaluation of how innovation changed following mergers and subsequent policy interventions after the 5-to-3 consolidation of the worldwide hard disk drive industry in 2012. It adopts a holistic view of innovation, employing four different measures: R&D, patents, the number of new models, and their unit prices. This allows us to distinguish the magnitude of the merging parties innovative efforts from the productivity of those efforts. Our firm-level approach confirms that there is important heterogeneity across the players, which we attribute to differences in the severity of remedies required by competition authorities.
AB - This paper is a retrospective evaluation of how innovation changed following mergers and subsequent policy interventions after the 5-to-3 consolidation of the worldwide hard disk drive industry in 2012. It adopts a holistic view of innovation, employing four different measures: R&D, patents, the number of new models, and their unit prices. This allows us to distinguish the magnitude of the merging parties innovative efforts from the productivity of those efforts. Our firm-level approach confirms that there is important heterogeneity across the players, which we attribute to differences in the severity of remedies required by competition authorities.
U2 - 10.1016/j.ijindorg.2021.102755
DO - 10.1016/j.ijindorg.2021.102755
M3 - Article
VL - 77
JO - International Journal of Industrial Organization
JF - International Journal of Industrial Organization
SN - 0167-7187
M1 - 102755
ER -