Quotation Gugler, Klaus, Siebert , Ralph. 2007. Market Power versus Efficiency Effects of Mergers and Research Joint Ventures: Evidence from the Semiconductor Industry. Review of Economics and Statistics 89 (4): 645-659.


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Abstract

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.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Review of Economics and Statistics
Citation Index SSCI
WU Journalrating 2009 A
WU-Journal-Rating new FIN-A, VW-A, WH-A
Language English
Title Market Power versus Efficiency Effects of Mergers and Research Joint Ventures: Evidence from the Semiconductor Industry
Volume 89
Number 4
Year 2007
Page from 645
Page to 659
URL http://www.nber.org/papers/w10323

Associations

People
Gugler, Klaus (Details)
External
Siebert , Ralph (Purdue University, United States/USA)
Organization
Research Institute for Regulatory Economics FI (Details)
Institute for Quantitative Economics IN (Details)
Research areas (Ă–STAT Classification 'Statistik Austria')
5370 Industrial economics (Details)
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