메뉴 건너뛰기




Volumn 89, Issue 4, 2007, Pages 645-659

Market power versus efficiency effects of mergers and research joint ventures: Evidence from the semiconductor industry

Author keywords

[No Author keywords available]

Indexed keywords


EID: 36448973450     PISSN: 00346535     EISSN: 15309142     Source Type: Journal    
DOI: 10.1162/rest.89.4.645     Document Type: Article
Times cited : (71)

References (82)
  • 2
    • 0041081649 scopus 로고    scopus 로고
    • Contemporary Empirical Merger Analysis
    • Baker, J. B., "Contemporary Empirical Merger Analysis," George Mason University Law Review 5 (1997), 347-361.
    • (1997) George Mason University Law Review , vol.5 , pp. 347-361
    • Baker, J.B.1
  • 4
    • 0035606990 scopus 로고    scopus 로고
    • When Is Inter-Firm Coordination Beneficial? The Case of Innovation
    • Baumol, W J., "When Is Inter-Firm Coordination Beneficial? The Case of Innovation," International Journal of Industrial Organization 19 (2001), 727-737.
    • (2001) International Journal of Industrial Organization , vol.19 , pp. 727-737
    • Baumol, W.J.1
  • 5
    • 31244436930 scopus 로고    scopus 로고
    • Research Joint Ventures and FirmLevel Performance
    • Benfratello, L., and A. Sembenelli, "Research Joint Ventures and FirmLevel Performance," Research Policy 31:4 (2002), 493-507.
    • (2002) Research Policy , vol.31 , Issue.4 , pp. 493-507
    • Benfratello, L.1    Sembenelli, A.2
  • 6
    • 0001048339 scopus 로고
    • Some Applications and Limitations of Recent Advances in Empirical Industrial Organization: Merger Analysis
    • Berry, S., and A. Pakes, "Some Applications and Limitations of Recent Advances in Empirical Industrial Organization: Merger Analysis," American Economic Review 83:2 (1993), 247-252.
    • (1993) American Economic Review , vol.83 , Issue.2 , pp. 247-252
    • Berry, S.1    Pakes, A.2
  • 7
    • 0034391638 scopus 로고    scopus 로고
    • R&D Intensity and Acquisition in. High-Technology Industries: Evidence from the U.S. Electronic and Electrical Equipment Industries
    • Blonigen, B. A., and C. T. Taylor, "R&D Intensity and Acquisition in. High-Technology Industries: Evidence from the U.S. Electronic and Electrical Equipment Industries," Journal of Industrial Economics 48:1 (2000), 47-70.
    • (2000) Journal of Industrial Economics , vol.48 , Issue.1 , pp. 47-70
    • Blonigen, B.A.1    Taylor, C.T.2
  • 8
    • 0020715126 scopus 로고
    • Strategic Commitment with R&D: The Symmetric Case
    • Brander, J. A., and B. Spencer, "Strategic Commitment with R&D: the Symmetric Case," Bell Journal of Economics 14 (1983), 225-235.
    • (1983) Bell Journal of Economics , vol.14 , pp. 225-235
    • Brander, J.A.1    Spencer, B.2
  • 9
    • 0005084237 scopus 로고    scopus 로고
    • When Do Research. Consortia Work Well and Why? Evidence from Japanese Panel Data
    • Branstetter, L. G., and M. Sakakibara, "When Do Research. Consortia Work Well and Why? Evidence from Japanese Panel Data," American Economic Review 92:1 (2002), 143-159.
    • (2002) American Economic Review , vol.92 , Issue.1 , pp. 143-159
    • Branstetter, L.G.1    Sakakibara, M.2
  • 10
    • 84875165325 scopus 로고
    • Predatory Pricing and the Acquisition Costs of Competitors
    • Burns, M., "Predatory Pricing and the Acquisition Costs of Competitors," Journal of Political Economy 94 (1986), 266-296.
    • (1986) Journal of Political Economy , vol.94 , pp. 266-296
    • Burns, M.1
  • 11
    • 0035600932 scopus 로고    scopus 로고
    • Adoption of a Process Innovation with Learning by Doing: Evidence from the Semiconductor Industry
    • Cabral, R., and M. Leiblein, "Adoption of a Process Innovation with Learning by Doing: Evidence from the Semiconductor Industry," Journal of Industrial Economics 3 (2001), 269-279.
    • (2001) Journal of Industrial Economics , vol.3 , pp. 269-279
    • Cabral, R.1    Leiblein, M.2
  • 12
    • 32344433969 scopus 로고    scopus 로고
    • R&D Cooperation and Spillovers: Some Empirical Evidence
    • Cassiman, B., and R. Veugelers, "R&D Cooperation and Spillovers: Some Empirical Evidence," CEPR discussion paper 2330 (1999).
    • (1999) CEPR discussion paper , vol.2330
    • Cassiman, B.1    Veugelers, R.2
  • 14
    • 36448994564 scopus 로고    scopus 로고
    • Cogan, G., and A. Burgelman, Intel Corporation (A): The DRAM Decision, Stanford Graduate School of Business, case number BP-256A (1990).
    • Cogan, G., and A. Burgelman, "Intel Corporation (A): The DRAM Decision," Stanford Graduate School of Business, case number BP-256A (1990).
  • 15
    • 0000041791 scopus 로고
    • Innovation, and Learning: The Two Faces of R&D
    • Cohen, W. M., and D. A. Levinthal, "Innovation, and Learning: The Two Faces of R&D," The Economic Journal 99 (1989), 569-596.
    • (1989) The Economic Journal , vol.99 , pp. 569-596
    • Cohen, W.M.1    Levinthal, D.A.2
  • 16
    • 0001483943 scopus 로고
    • Cooperative and Non-Cooperative R&D in Duopoly with Spillovers
    • D'Aspremont, C., and A. Jacquemin, "Cooperative and Non-Cooperative R&D in Duopoly with Spillovers," American Economic Review 78 (1988), 1133-1137.
    • (1988) American Economic Review , vol.78 , pp. 1133-1137
    • D'Aspremont, C.1    Jacquemin, A.2
  • 17
    • 36448933242 scopus 로고    scopus 로고
    • Dataquest (1999), semiconductor data partly provided by Dataquest.
    • Dataquest (1999), semiconductor data partly provided by Dataquest.
  • 19
    • 0000715119 scopus 로고
    • Incentives to Form Coalitions with Bertrand Competition
    • Deneckere, R., and C. Davidson, "Incentives to Form Coalitions with Bertrand Competition," RAND Journal of Economics 16 (1985), 473-486.
    • (1985) RAND Journal of Economics , vol.16 , pp. 473-486
    • Deneckere, R.1    Davidson, C.2
  • 21
    • 0042904330 scopus 로고    scopus 로고
    • On the Profitability of Horizontal Mergers in Industries with Dynamic Competition
    • Dockner, E. J., and A. Gaunersdorfer, "On the Profitability of Horizontal Mergers in Industries with Dynamic Competition," Japan and the World Economy 13 (2001), 195-216.
    • (2001) Japan and the World Economy , vol.13 , pp. 195-216
    • Dockner, E.J.1    Gaunersdorfer, A.2
  • 22
    • 0001262636 scopus 로고
    • Horizontal Merger: An Equilibrium Analysis
    • Farrell, J., and C. Shapiro, "Horizontal Merger: An Equilibrium Analysis," American Economic Review 80:1 (1990), 107-126.
    • (1990) American Economic Review , vol.80 , Issue.1 , pp. 107-126
    • Farrell, J.1    Shapiro, C.2
  • 24
    • 36448954800 scopus 로고    scopus 로고
    • Phillips to Split Chip Unit and Explore M&A
    • Dec. 15
    • Financial Times, "Phillips to Split Chip Unit and Explore M&A" (Dec. 15, 2005).
    • (2005) Financial Times
  • 26
    • 0003882686 scopus 로고    scopus 로고
    • Washington, DC: Brookings Institution Press
    • _ Mismanaged Trade! (Washington, DC: Brookings Institution Press, 1996).
    • (1996) Mismanaged Trade
    • Flamm, K.1
  • 28
    • 0343094897 scopus 로고
    • The Effect of Conglomerate Mergers on Competition
    • Goldberg, L., "The Effect of Conglomerate Mergers on Competition," Journal of Law and Economics 16 (1973), 137-158.
    • (1973) Journal of Law and Economics , vol.16 , pp. 137-158
    • Goldberg, L.1
  • 29
    • 0033446330 scopus 로고    scopus 로고
    • A Dynamic Model of Endogenous Horizontal Mergers
    • Gowrisankaran, G., "A Dynamic Model of Endogenous Horizontal Mergers," RAND Journal of Economics 30:1 (1999), 56-83.
    • (1999) RAND Journal of Economics , vol.30 , Issue.1 , pp. 56-83
    • Gowrisankaran, G.1
  • 30
    • 8644260952 scopus 로고    scopus 로고
    • Mergers and the Evolution, of Industry Concentration: Results from the Dominant Firm. Model
    • Gowrisankaran, G., and T. J. Holmes, "Mergers and the Evolution, of Industry Concentration: Results from the Dominant Firm. Model," RAND Journal of Economics 35 (2004), 561-582.
    • (2004) RAND Journal of Economics , vol.35 , pp. 561-582
    • Gowrisankaran, G.1    Holmes, T.J.2
  • 31
    • 0001466239 scopus 로고
    • The Learning Curve in the Production of Semiconductor Memory Chips
    • Gruber, H., "The Learning Curve in the Production of Semiconductor Memory Chips," Applied Economics 24 (1992), 885-894.
    • (1992) Applied Economics , vol.24 , pp. 885-894
    • Gruber, H.1
  • 32
    • 36448963569 scopus 로고    scopus 로고
    • _ Learning and Strategic Product Innovation: Theory and Evidence for the Semiconductor Industry (Amsterdam: North-Holland, 1994).
    • _ Learning and Strategic Product Innovation: Theory and Evidence for the Semiconductor Industry (Amsterdam: North-Holland, 1994).
  • 33
    • 0346690511 scopus 로고    scopus 로고
    • Trade Policy and Learning by Doing: The Case of Semiconductors
    • _"Trade Policy and Learning by Doing: The Case of Semiconductors," Research Policy 25 (1996), 723-739.
    • (1996) Research Policy , vol.25 , pp. 723-739
    • Gruber, H.1
  • 36
    • 36448979331 scopus 로고    scopus 로고
    • Hall, B. H., A. B. Jaffe, and M. Trajtenberg, The NBER Patent Citation Data File: Lessons, Insights and Methodological Tools, NBER working paper No. 8498 (2001).
    • Hall, B. H., A. B. Jaffe, and M. Trajtenberg, "The NBER Patent Citation Data File: Lessons, Insights and Methodological Tools," NBER working paper No. 8498 (2001).
  • 37
    • 0035611994 scopus 로고    scopus 로고
    • Hall, B. H., and R. M. Ziedonis, The Patent Paradox Revisited: An Empirical Study of Patenting in the U.S. Semiconductor Industry, 1979-95, RAND Journal of Economics 32:1 (2001), 101-128.
    • Hall, B. H., and R. M. Ziedonis, "The Patent Paradox Revisited: An Empirical Study of Patenting in the U.S. Semiconductor Industry, 1979-95," RAND Journal of Economics 32:1 (2001), 101-128.
  • 38
    • 2942570145 scopus 로고    scopus 로고
    • An Empirical Evaluation of the Determinants of Research Joint Venture Formation
    • Hernan, R., P. L. Marin, and G. Siotis, "An Empirical Evaluation of the Determinants of Research Joint Venture Formation," Journal of Industrial Economics 151:1 (2003), 75-89.
    • (2003) Journal of Industrial Economics , vol.151 , Issue.1 , pp. 75-89
    • Hernan, R.1    Marin, P.L.2    Siotis, G.3
  • 39
    • 0028584051 scopus 로고
    • Learning by Doing Spillovers in the Semicon-ductor Industry
    • Irwin, D., and P. Klenow, "Learning by Doing Spillovers in the Semicon-ductor Industry," Journal of Political Economy 102 (1994), 1200-1227.
    • (1994) Journal of Political Economy , vol.102 , pp. 1200-1227
    • Irwin, D.1    Klenow, P.2
  • 40
    • 0001684245 scopus 로고    scopus 로고
    • High-Tech R&D Subsidies: Estimating the Effects of Sematech
    • _"High-Tech R&D Subsidies: Estimating the Effects of Sematech," Journal of International Economics 40 (1996), 323-344.
    • (1996) Journal of International Economics , vol.40 , pp. 323-344
    • Irwin, D.1    Klenow, P.2
  • 42
    • 38249027034 scopus 로고
    • Cooperative Agreements in R&D and European Antitrust Policy
    • Jacquemin, A., "Cooperative Agreements in R&D and European Antitrust Policy," European Economic Review 32 (1988), 551-569.
    • (1988) European Economic Review , vol.32 , pp. 551-569
    • Jacquemin, A.1
  • 43
    • 0040374314 scopus 로고    scopus 로고
    • Information Technology and the U.S. Economy
    • Jorgenson, D. W., "Information Technology and the U.S. Economy," American Economic Review 91:1 (2001), 1-32.
    • (2001) American Economic Review , vol.91 , Issue.1 , pp. 1-32
    • Jorgenson, D.W.1
  • 44
    • 0001875617 scopus 로고
    • Innovation and Cooperation: Implications for Antitrust
    • Jorde, T. M., and D. J. Teece, "Innovation and Cooperation: Implications for Antitrust," Journal of Economic Perspectives 4 (1990), 75-96.
    • (1990) Journal of Economic Perspectives , vol.4 , pp. 75-96
    • Jorde, T.M.1    Teece, D.J.2
  • 45
    • 31244438403 scopus 로고    scopus 로고
    • An Empirical Test of Models Explaining Research Expenditures and Research Cooperation: Evidence for the German Service Sector
    • Kaiser, U., "An Empirical Test of Models Explaining Research Expenditures and Research Cooperation: Evidence for the German Service Sector," International Journal of Industrial Organization 20 (2002), 747-774.
    • (2002) International Journal of Industrial Organization , vol.20 , pp. 747-774
    • Kaiser, U.1
  • 47
    • 84963088580 scopus 로고
    • The Limits of Monopolization through Acquisition
    • Kamien, M. I., and I. Zang, "The Limits of Monopolization through Acquisition," Quarterly Journal of Economics 105:2 (1990), 465-499.
    • (1990) Quarterly Journal of Economics , vol.105 , Issue.2 , pp. 465-499
    • Kamien, M.I.1    Zang, I.2
  • 48
    • 0001329220 scopus 로고
    • An Analysis of Cooperative Research and Development
    • Katz, M., "An Analysis of Cooperative Research and Development," RAND Journal of Economics 17 (1986), 527-543.
    • (1986) RAND Journal of Economics , vol.17 , pp. 527-543
    • Katz, M.1
  • 50
    • 0027767127 scopus 로고
    • Mergers and Market Power: Evidence from the Airline Industry
    • Kim, E. H., and V. Singal, "Mergers and Market Power: Evidence from the Airline Industry," American Economy Review 83:3 (1993), 549-569.
    • (1993) American Economy Review , vol.83 , Issue.3 , pp. 549-569
    • Kim, E.H.1    Singal, V.2
  • 51
    • 0001161944 scopus 로고
    • Unionism and Wage Rates: A Simultaneous Equations Model with Qualitative and Limited Dependent Variables
    • Lee, L. F., "Unionism and Wage Rates: A Simultaneous Equations Model with Qualitative and Limited Dependent Variables," International Economic Review 19:2 (1978), 415-433.
    • (1978) International Economic Review , vol.19 , Issue.2 , pp. 415-433
    • Lee, L.F.1
  • 52
    • 0000336147 scopus 로고
    • Horizontal Mergers: The 50-Percent Benchmark
    • Levin, D., "Horizontal Mergers: The 50-Percent Benchmark," American Economic Review 80:5 (1990), 1238-1245.
    • (1990) American Economic Review , vol.80 , Issue.5 , pp. 1238-1245
    • Levin, D.1
  • 53
    • 0008389337 scopus 로고
    • Anticompetitive Effects of Mergers in Markets with Localized Competition
    • Levy, D. T., and J. D. Reitzes, "Anticompetitive Effects of Mergers in Markets with Localized Competition, Journal of Law, Economics and Organization 8:2 (1992), 427-440.
    • (1992) Journal of Law, Economics and Organization , vol.8 , Issue.2 , pp. 427-440
    • Levy, D.T.1    Reitzes, J.D.2
  • 54
    • 0008963416 scopus 로고    scopus 로고
    • Research Joint Ventures: Patterns from Federal Register Filings
    • Link, A., "Research Joint Ventures: Patterns from Federal Register Filings," Review of Industrial Organization 11 (1996), 617-628.
    • (1996) Review of Industrial Organization , vol.11 , pp. 617-628
    • Link, A.1
  • 55
    • 0030115830 scopus 로고
    • R&D Joint Ventures and Tacit Product Market Collusion
    • Martin, S., "R&D Joint Ventures and Tacit Product Market Collusion," European Journal of Political Economy 11 (1995), 733-741.
    • (1995) European Journal of Political Economy , vol.11 , pp. 733-741
    • Martin, S.1
  • 57
    • 0000686663 scopus 로고
    • Mergers and Market Share
    • Mueller, D. C., "Mergers and Market Share," this REVIEW 67:2 (1985), 259-267.
    • (1985) this REVIEW , vol.67 , Issue.2 , pp. 259-267
    • Mueller, D.C.1
  • 58
    • 85077589228 scopus 로고
    • The Competitive Effects of Mergers: Stock Market Evidence for the U.S. Steel Dissolution
    • Mullin, G, J. Mullin, and W. Mullin, "The Competitive Effects of Mergers: Stock Market Evidence for the U.S. Steel Dissolution," RAND Journal of Economics 26:2 (1995), 314-330.
    • (1995) RAND Journal of Economics , vol.26 , Issue.2 , pp. 314-330
    • Mullin, G.1    Mullin, J.2    Mullin, W.3
  • 59
    • 0242511023 scopus 로고    scopus 로고
    • Horizontal Mergers in the Paper Industry
    • Pesendorfer, M., "Horizontal Mergers in the Paper Industry," RAND Journal of Economics 34:3 (2003), 495-515.
    • (2003) RAND Journal of Economics , vol.34 , Issue.3 , pp. 495-515
    • Pesendorfer, M.1
  • 61
    • 84937313167 scopus 로고
    • Pricing and Performance in Monopoly Airline Markets
    • Peteraf, M., and R. Reed, "Pricing and Performance in Monopoly Airline Markets," Journal of Law and Economics 37 (1994), 193-213.
    • (1994) Journal of Law and Economics , vol.37 , pp. 193-213
    • Peteraf, M.1    Reed, R.2
  • 62
    • 0001114883 scopus 로고
    • The Effects of Horizontal Mergers on Competition: The Case of the Northern Securities Company
    • Prager, R., "The Effects of Horizontal Mergers on Competition: The Case of the Northern Securities Company," RAND Journal of Economics 23 (1992), 123-133.
    • (1992) RAND Journal of Economics , vol.23 , pp. 123-133
    • Prager, R.1
  • 64
  • 67
    • 0000914235 scopus 로고
    • Losses from Horizontal Merger: The Effects of an Exogenous Change in Industry Structure on Cournot-Nash Equilibrium
    • Salant, S. W., S. Switzer, and R. J. Reynolds, "Losses from Horizontal Merger: The Effects of an Exogenous Change in Industry Structure on Cournot-Nash Equilibrium," Quarterly Journal of Economics 98:2 (1983), 185-199.
    • (1983) Quarterly Journal of Economics , vol.98 , Issue.2 , pp. 185-199
    • Salant, S.W.1    Switzer, S.2    Reynolds, R.J.3
  • 68
    • 0001549798 scopus 로고
    • Monopolistic Competition, with Outside Goods
    • Salop, S. C., "Monopolistic Competition, with Outside Goods," Bell Journal of Economics 8 (1979), 141-156.
    • (1979) Bell Journal of Economics , vol.8 , pp. 141-156
    • Salop, S.C.1
  • 69
    • 34547768018 scopus 로고    scopus 로고
    • Navigating the
    • Patent Thicket: Cross Licenses, Patent Pools, and Standard Setting, in Adam Jaffe, Joshua Lerner, and Scott Stern (Eds, Innovation Policy and the Economy, I Cambridge, MA: MIT Press, 2001
    • Shapiro, C., "Navigating the Patent Thicket: Cross Licenses, Patent Pools, and Standard Setting," in Adam Jaffe, Joshua Lerner, and Scott Stern (Eds.), Innovation Policy and the Economy, volume I (Cambridge, MA: MIT Press, 2001).
    • Shapiro, C.1
  • 70
    • 0003185692 scopus 로고
    • On the Antitrust Treatment of Production Joint Ventures
    • Shapiro, C., and R. D. Willig, "On the Antitrust Treatment of Production Joint Ventures," Journal of Economic Perspectives 4:3 (1990), 113-130.
    • (1990) Journal of Economic Perspectives , vol.4 , Issue.3 , pp. 113-130
    • Shapiro, C.1    Willig, R.D.2
  • 74
    • 0000603857 scopus 로고
    • Cost Reduction, Competition and Industry Performance
    • Spence, M., "Cost Reduction, Competition and Industry Performance," Econometrica 52:1 (1984), 101-121.
    • (1984) Econometrica , vol.52 , Issue.1 , pp. 101-121
    • Spence, M.1
  • 75
    • 0002035268 scopus 로고
    • Monopoly and Oligopoly by Merger
    • Stigler, G. J., "Monopoly and Oligopoly by Merger," American Economic Review 40:2 (1950), 23-34.
    • (1950) American Economic Review , vol.40 , Issue.2 , pp. 23-34
    • Stigler, G.J.1
  • 79
    • 21844493421 scopus 로고
    • The Effects of Mergers in Differentiated Products Industries: Logit Demand and Merger Policy
    • Werden, G. J., and L. M. Froeb, "The Effects of Mergers in Differentiated Products Industries: Logit Demand and Merger Policy," Journal of Law, Economics, and Organization 10:2 (1994), 407-426.
    • (1994) Journal of Law, Economics, and Organization , vol.10 , Issue.2 , pp. 407-426
    • Werden, G.J.1    Froeb, L.M.2
  • 80
    • 0032343130 scopus 로고    scopus 로고
    • The Entry-Inducing Effects of Horizontal Mergers: An Exploratory Analysis
    • _"The Entry-Inducing Effects of Horizontal Mergers: An Exploratory Analysis," Journal of Industrial Economics 46:4 (1998), 525-543.
    • (1998) Journal of Industrial Economics , vol.46 , Issue.4 , pp. 525-543
    • Werden, G.J.1    Froeb, L.M.2
  • 81
    • 0001652957 scopus 로고
    • Economies as an Antitrust Defense: The Welfare Trade-offs
    • Williamson, O. E., "Economies as an Antitrust Defense: The Welfare Trade-offs," American Economic Review 58 (1968), 18-36.
    • (1968) American Economic Review , vol.58 , pp. 18-36
    • Williamson, O.E.1
  • 82
    • 36448939893 scopus 로고    scopus 로고
    • Yoffie, D., Rambus, Inc. 2004, Harvard Business School, case number 9-704-500 (2005).
    • Yoffie, D., "Rambus, Inc. 2004," Harvard Business School, case number 9-704-500 (2005).


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.