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on Technology and Industrial Dynamics |
| By: | Barge-Gil, Andrés; López, Alberto |
| Abstract: | The determinants of R&D are an important topic of industrial economics. The classical Schumpeterian hypotheses about the influence of size and market power have been complemented with the role played by industry determinants, such as demand pull, technological opportunity and appropriability, in determining R&D investments. However, R&D has always been considered as a whole, even though research and development are different activities with different purposes, knowledge bases, people involved and management styles. We take advantage of a new panel database of innovative Spanish firms (PITEC) to distinguish between research and development efforts of firms. We analyze the role jointly played by traditional R&D determinants in driving research and development, accounting for the differences between both activities. Results show that demand pull and appropriability have a higher effect on development, while technological opportunity is more influential for research. Differences are statistically significant, important in magnitude, and robust to the use of different indicators for demand pull, technological opportunity and appropriability and to several robustness checks. |
| Keywords: | R&D Determinants; Schumpeterian hypotheses; Demand pull; Technological opportunity; Appropriability |
| JEL: | O3 |
| Date: | 2012–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:41270&r=tid |
| By: | Petar Angelov; Stephanie Rosenkranz; Hans Schenk |
| Abstract: | Using an event study methodology, this paper assesses the competitive effects of remedies implemented by the European Commission in 11 horizontal mergers in the ICT industry between 1990 and 2010. The estimates of merger announcement effects for both merging parties and competitors have predominantly insignificant residuals, suggesting that collusion and anti-competitive effects are not implied by the market reactions to merger announcements. Remedies, both behavioural and structural, appear to be largely ineffective in negating the competition concerns of the Commission, even if properly applied to anti-competitive mergers. Moreover, behavioural remedies appear to transfer rents from merging parties to competitors. These findings suggest that static economic models are ineffective in analysing dynamic markets, possibly as a result of inadequate market definitions. |
| Keywords: | Merger remedies; competition policy; industrial competitiveness; ICT; M&A; event study |
| JEL: | G34 L41 L43 |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:use:tkiwps:1216&r=tid |