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Effects of Acquisitions on Product and Process Innovation and R&D Performance
Using a game theoretical model on firms simultaneous investments in product and process innovation, the authors deduct and empirically test hypotheses on the optimal R&D portfolio, investment, performance, and dynamic efficiency of R&D for acquisitions and in independently competing firms. They use Community Innovation Survey data on Italian manufacturing firms.
Link
http://www.cepr.org/pubs/new-dps/dplist.asp?dpno=5275