Market power versus efficiency effects of mergers and research joint ventures
Subtitle: evidence from the semiconductor industry
By: Ralph Siebert, Klaus Gugler.
Contributors: Gugler, Klaus.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10323; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10323.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "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"--National Bureau of Economic Research web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 1/21/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.