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| Tekijä: | Marin, P. L. Siotis, G. |
| Otsikko: | Innovation and market structure: An empirical evaluation of the 'bounds approach' in the chemical infustry |
| Lehti: | Journal of Industrial Economics
2007 : MAR, VOL. 55:1, p. 93-111 |
| Asiasana: | chemical industry business ratios market structure |
| Kieli: | eng |
| Tiivistelmä: | This article explores chemical industry using Sutton's (1998) 'bounds approach' that has two predictions. The first expects that the lower bound of the ratio of the 1-firm concentration index to product concentration is bounded away from zero at high levels of product concentration only in high R&D markets. The second predicts that the lower bound on market concentration is higher and increasing in product concentration in markets with higher R&D intensities. The results of analyzing the data on chemical industry support these two hypotheses. The authors apply different procedure in their analysis than in previous studies by using plant level data in defining products and classifying the products into markets based on end-use. |
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