haku: @author Wong, K. / yhteensä: 8
viite: 2 / 8
| Tekijä: | Wong, K. Tse, M. |
| Otsikko: | Mergers and investments in cost reduction with private information revised |
| Lehti: | International Journal of Industrial Organization
1997 : AUG, VOL. 15:5, p. 629-634 |
| Asiasana: | INDUSTRIAL ORGANIZATION INVESTMENT MERGERS |
| Kieli: | eng |
| Tiivistelmä: | This paper re-examines the model developed by Stenbacka (1991) which addresses the investment incentives of an innovating firm operating in anticipation of a merger with its rival in a Cournot duopoly setting. In contrast to Stenbacka, the authors find that the innovating firm need not always invest more should it conceal rather than reveal its R and D outcome prior to the takeover. Furthermore, the authors show that the ex ante incentive for the innovating firm to conceal its private information is perfectly consistent with earlier findings in the information sharing literature. |
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