Market Power Versus Efficiency Effects of Mergers and Research Joint Ventures: Evidence from the Semiconductor Industry
January 01, 2004
The authors present evidence for the semiconductor industry that research joint ventures (RJVs) indeed represent viable alternatives to mergers. They present evidence that joint ventures, and in particular, RJVs, may achieve comparable efficiencies possibly without the anti-competitive (market power) effects of mergers.
Available for purchase at: http://www.nber.org/papers/W10323