Acquihiring for Monopsony Power
研究了企业收购初创公司可能并非为了招聘人才，而是为了消除劳动力市场竞争者，从而获得对专业人才的垄断买方权力，并探讨了这种收购对员工和社会效率的负面影响。
It is often argued that startups are acquired for the sole purpose of hiring specialized talent. We show that the goal of such acquihires might be to shut down the most relevant labor market competitor. This grants the acquirer monopsony power over specialized talent. As a consequence, acquihiring may harm employees and be socially inefficient. We explore the robustness of these effects, allowing for private benefits associated with working at a startup, varying bargaining protocols, multiple employees with and without complementarities, and private information. This paper was accepted by Maria Guadalupe, strategy. Funding: H. Bar-Isaac thanks the Social Sciences and Humanities Research Council of Canada for financial support. V. Nocke gratefully acknowledges support from the German Research Foundation (DFG) through CRC TR 224 [Project B03].