Mergers and innovation: Evidence from the hard disk drive market

Anna Rita Bennato, Stephen Davies, Franco Mariuzzo and Peter Ormosi

International Journal of Industrial Organization, 2021, vol. 77, issue C

Abstract: This paper is a retrospective evaluation of how innovation changed following mergers and subsequent policy interventions after the 5-to-3 consolidation of the worldwide hard disk drive industry in 2012. It adopts a holistic view of innovation, employing four different measures: R&D, patents, the number of new models, and their unit prices. This allows us to distinguish the magnitude of the merging parties innovative efforts from the productivity of those efforts. Our firm-level approach confirms that there is important heterogeneity across the players, which we attribute to differences in the severity of remedies required by competition authorities.

Keywords: Mergers; Innovation; R&d; Patents; Matrix completion (search for similar items in EconPapers)
JEL-codes: L10 L40 O30 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:indorg:v:77:y:2021:i:c:s0167718721000485

DOI: 10.1016/j.ijindorg.2021.102755

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