This paper argues that incumbent firms may acquire innovative targets solely to discontinue
the target's innovation projects and preempt future competition. We call such acquisitions …

In recent years, we have seen a dramatic upsurge of" strategic patent acquisitions." We
define this as the acquisition of a portfolio of patents reading on a specified area such as …

This article provides a theory of strategic innovation project choice by incumbents and start‐
ups which serves as a foundation for the analysis of acquisition policy. We show that, in spite …

I examine whether technological innovation is a motivating factor in firms' acquisition
decisions and how an acquisition (or an acquisition withdrawal) affects technological …

Using a large and unique patent‐merger data set over the period 1984 to 2006, we show
that companies with large patent portfolios and low R&D expenses are acquirers, while …

ABSTRACT I examine how strong corporate governance proxied by the threat of hostile
takeovers affects innovation and firm value. I find a significant decline in the number of …

Should there be limits on startup acquisitions by dominant firms? Efficiency requires that
startups sell their technology to the right incumbents, that they develop the right technology …

We study the rivalry between two firms to develop an innovation in a dynamic setting that
allows for postdevelopment dissemination of the innovation, such as licensing or imitation …

Executive Overview The recent wave of acquisition activity may be damaging the innovative
capabilities of American firms, thus making them less competitive in the global marketplace …

We develop a model to capture the novelty of innovation and explore what it means for the
nature of market competition and quality of innovations. An innovator decides not only …