Merger and product innovation under cross ownership and cooperative R&D
研究显示，在存在被动交叉持股或合作研发的情况下，合并可能增加产品创新投资并提升预期福利，因此反垄断机构对此类合并不必过于担忧。
We show that merger may increase investments in product innovation, and expected welfare if there is either passive cross ownership or cooperative research. Hence, the antitrust authorities may not need to be too concerned about mergers in these situations.