최신자료
Horizontal Minority Stake Acquisitions and Patent Activity
We study the effect of horizontal minority stake acquisitions on firms’ innovation incentives and patenting behavior. Using patent data from 34 countries between 2001 and 2019, we employ a staggered, matching-based difference-in-differences approach, complemented by an event study. We find that such acquisitions lead to a decline in both the number of patents granted and the number of citations received, indicating a reduction in innovation activity. These results suggest that horizontal minority acquisitions can serve as a mechanism to soften rivalry, not only in product markets, but also in innovation.
많이 본 자료
![[2025.07] 대출규제](/userdata/main/incContent/sideLink/23/aaaqQGcnBTcOc8zW9uLNz20251015165742zqfnw.png)
![[사람이 되고 싶어요2] 환율의 변화](/userdata/main/incContent/sideLink/22/aaaqQGcnBTcOc8zW9uLNz20251015165408vtzoa.jpg)
