Do Incumbents’ Mergers Influence Entrepreneurial Entry? An Evaluation
研究美国电信业本地交换公司并购对创业进入的影响，发现并购显著降低了新企业进入，提示政策制定者需谨慎审批并购以保护创业活力。
This analysis has evaluated the impact of mergers on new entrepreneurial firm entry in the territories of firms making up the local exchange sector of the United States telecommunications industry. An analysis of first and second mergers undertaken by the local exchange companies has revealed that where mergers occurred there was significantly lower entrepreneurial entry. The results have implications for policy, since the approval of mergers has been shown to lead to lower entrepreneurial entry where mergers occur, and the approval of mergers may serve to impede entrepreneurship. Hence, greater thought should be given to merger approvals so that entrepreneurship and the process of economic growth are not compromised as a result.