Kill Zones? Effects of Big Tech Start-up Acquisitions on Innovation
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Motta, Massimo & Peitz, Martin, 2021.
"Big tech mergers,"
Information Economics and Policy, Elsevier, vol. 54(C).
- Motta, Massimo & Peitz, Martin, 2020. "Big Tech Mergers," CEPR Discussion Papers 14353, C.E.P.R. Discussion Papers.
- Massimo Motta & Martin Peitz, 2020. "Big tech mergers," Economics Working Papers 1736, Department of Economics and Business, Universitat Pompeu Fabra.
- Massimo Motta & Martin Peitz, 2020. "Big Tech Mergers," Working Papers 1198, Barcelona School of Economics.
- Massimo Motta & Martin Peitz, 2020. "Big Tech Mergers," CRC TR 224 Discussion Paper Series crctr224_2020_147v2, University of Bonn and University of Mannheim, Germany.
- Josh Lerner & Ramana Nanda, 2020.
"Venture Capital's Role in Financing Innovation: What We Know and How Much We Still Need to Learn,"
Journal of Economic Perspectives, American Economic Association, vol. 34(3), pages 237-261, Summer.
- Josh Lerner & Ramana Nanda, 2020. "Venture Capital’s Role in Financing Innovation: What We Know and How Much We Still Need to Learn," NBER Working Papers 27492, National Bureau of Economic Research, Inc.
- Massimo Motta & Martin Peitz, 2020. "Big Tech Mergers," CRC TR 224 Discussion Paper Series crctr224_2020_147, University of Bonn and University of Mannheim, Germany.
- Gilbert, Richard J., 2021. "Separation: A Cure for Abuse of Platform Dominance?," Information Economics and Policy, Elsevier, vol. 54(C).
- Keisuke Hirano & Guido W. Imbens & Geert Ridder, 2003.
"Efficient Estimation of Average Treatment Effects Using the Estimated Propensity Score,"
Econometrica, Econometric Society, vol. 71(4), pages 1161-1189, July.
- Keisuke Hirano & Guido W. Imbens & Geert Ridder, 2000. "Efficient Estimation of Average Treatment Effects Using the Estimated Propensity Score," NBER Technical Working Papers 0251, National Bureau of Economic Research, Inc.
- Guido Imbens, 2000. "Efficient Estimation of Average Treatment Effects Using the Estimated Propensity Score," Econometric Society World Congress 2000 Contributed Papers 1166, Econometric Society.
- Belleflamme,Paul & Peitz,Martin, 2021. "The Economics of Platforms," Cambridge Books, Cambridge University Press, number 9781108482578.
- Rin, Marco Da & Hellmann, Thomas & Puri, Manju, 2013.
"A Survey of Venture Capital Research,"
Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, volume 2, chapter 0, pages 573-648,
Elsevier.
- Da Rin, M. & Hellmann, T. & Puri, M.L., 2011. "A Survey of Venture Capital Research," Other publications TiSEM eb956105-daa7-4a03-8392-6, Tilburg University, School of Economics and Management.
- Da Rin, M. & Hellmann, T. & Puri, M.L., 2011. "A Survey of Venture Capital Research," Discussion Paper 2011-111, Tilburg University, Center for Economic Research.
- Marco Da Rin & Thomas F. Hellmann & Manju Puri, 2011. "A survey of venture capital research," NBER Working Papers 17523, National Bureau of Economic Research, Inc.
- Cabral, Luís, 2021.
"Merger policy in digital industries,"
Information Economics and Policy, Elsevier, vol. 54(C).
- Cabral, Luis, 2020. "Merger Policy in Digital Industries," CEPR Discussion Papers 14785, C.E.P.R. Discussion Papers.
- Andrew Goodman-Bacon, 2018. "Difference-in-Differences with Variation in Treatment Timing," NBER Working Papers 25018, National Bureau of Economic Research, Inc.
- Jens Foerderer & Thomas Kude & Sunil Mithas & Armin Heinzl, 2018. "Does Platform Owner’s Entry Crowd Out Innovation? Evidence from Google Photos," Information Systems Research, INFORMS, vol. 29(2), pages 444-460, June.
- Samuel Kortum & Josh Lerner, 2000. "Assessing the Contribution of Venture Capital to Innovation," RAND Journal of Economics, The RAND Corporation, vol. 31(4), pages 674-692, Winter.
- Gompers, Paul A. & Gornall, Will & Kaplan, Steven N. & Strebulaev, Ilya A., 2020.
"How do venture capitalists make decisions?,"
Journal of Financial Economics, Elsevier, vol. 135(1), pages 169-190.
- Paul Gompers & William Gornall & Steven N. Kaplan & Ilya A. Strebulaev, 2016. "How Do Venture Capitalists Make Decisions?," NBER Working Papers 22587, National Bureau of Economic Research, Inc.
- G.M. Constantinides & M. Harris & R. M. Stulz (ed.), 2013. "Handbook of the Economics of Finance," Handbook of the Economics of Finance, Elsevier, volume 2, number 2-b.
- Belleflamme,Paul & Peitz,Martin, 2021. "The Economics of Platforms," Cambridge Books, Cambridge University Press, number 9781108710749.
- Baker, Malcolm & Gompers, Paul A, 2003. "The Determinants of Board Structure at the Initial Public Offering," Journal of Law and Economics, University of Chicago Press, vol. 46(2), pages 569-598, October.
- G.M. Constantinides & M. Harris & R. M. Stulz (ed.), 2013. "Handbook of the Economics of Finance," Handbook of the Economics of Finance, Elsevier, volume 2, number 2-a.
- Guido W. Imbens, 2004.
"Nonparametric Estimation of Average Treatment Effects Under Exogeneity: A Review,"
The Review of Economics and Statistics, MIT Press, vol. 86(1), pages 4-29, February.
- Guido W. Imbens, 2003. "Nonparametric Estimation of Average Treatment Effects under Exogeneity: A Review," NBER Technical Working Papers 0294, National Bureau of Economic Research, Inc.
- Yael V. Hochberg & Alexander Ljungqvist & Yang Lu, 2007. "Whom You Know Matters: Venture Capital Networks and Investment Performance," Journal of Finance, American Finance Association, vol. 62(1), pages 251-301, February.
- Katz, Michael L., 2021. "Big Tech mergers: Innovation, competition for the market, and the acquisition of emerging competitors," Information Economics and Policy, Elsevier, vol. 54(C).
- Varian, Hal R., 2021. "Seven deadly sins of tech?," Information Economics and Policy, Elsevier, vol. 54(C).
- Marco Da Rin & María Fabiana Penas, 2007. "The Effect of Venture Capital on Innovation Strategies," NBER Working Papers 13636, National Bureau of Economic Research, Inc.
- Motta, Massimo & Peitz, Martin, 2021.
"Big tech mergers,"
Information Economics and Policy, Elsevier, vol. 54(C).
- Massimo Motta & Martin Peitz, 2020. "Big Tech Mergers," CRC TR 224 Discussion Paper Series crctr224_2020_147v2, University of Bonn and University of Mannheim, Germany.
- Massimo Motta & Martin Peitz, 2020. "Big Tech Mergers," CRC TR 224 Discussion Paper Series crctr224_2020_147v1, University of Bonn and University of Mannheim, Germany.
- Massimo Motta & Martin Peitz, 2020. "Big tech mergers," Economics Working Papers 1736, Department of Economics and Business, Universitat Pompeu Fabra.
- Motta, Massimo & Peitz, Martin, 2020. "Big Tech Mergers," CEPR Discussion Papers 14353, C.E.P.R. Discussion Papers.
- Massimo Motta & Martin Peitz, 2020. "Big Tech Mergers," Working Papers 1198, Barcelona School of Economics.
- Laura Bottazzi & Marco Da Rin, 2002. "Venture capital in Europe and the financing of innovative companies [‘Robust financial contracting and the role of venture capitalists’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 17(34), pages 229-270.
- Faria, Ana Paula & Barbosa, Natália, 2014.
"Does venture capital really foster innovation?,"
Economics Letters, Elsevier, vol. 122(2), pages 129-131.
- Ana Paula Faria & Natália Barbosa, 2013. "Does venture capital really foster innovation?," NIPE Working Papers 03/2013, NIPE - Universidade do Minho.
- Samuel Kortum & Josh Lerner, 1998. "Does Venture Capital Spur Innovation?," NBER Working Papers 6846, National Bureau of Economic Research, Inc.
- Paul Gompers & Josh Lerner, 2001. "The Venture Capital Revolution," Journal of Economic Perspectives, American Economic Association, vol. 15(2), pages 145-168, Spring.
- Joshua Lerner, 1994. "The Syndication of Venture Capital Investments," Financial Management, Financial Management Association, vol. 23(3), Fall.
- Lisa Feeney & George H. Haines & Allan L. Riding, 1999. "Private investors' investment criteria: Insights from qualitative data," Venture Capital, Taylor & Francis Journals, vol. 1(2), pages 121-145, April.
- Gompers, Paul A., 1996. "Grandstanding in the venture capital industry," Journal of Financial Economics, Elsevier, vol. 42(1), pages 133-156, September.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Lefouili, Yassine & Madio, Leonardo, 2023. "Market Structure and Investments : A Progress Report," TSE Working Papers 23-1491, Toulouse School of Economics (TSE), revised Mar 2024.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Prado, Tiago S. & Bauer, Johannes M., 2022. "Big Tech platform acquisitions of start-ups and venture capital funding for innovation," Information Economics and Policy, Elsevier, vol. 59(C).
- Lohwasser, Todor S., 2020. "Meta-analyzing the relative performance of venture capital-backed firms," Discussion Papers of the Institute for Organisational Economics 4/2020, University of Münster, Institute for Organisational Economics.
- Bauer, Johannes M. & Prado, Tiago S., 2020. "Lessons from Innovation Economics for Digital Platform Policy," ITS Conference, Online Event 2020 224846, International Telecommunications Society (ITS).
- William H. Janeway & Ramana Nanda & Matthew Rhodes-Kropf, 2021.
"Venture Capital Booms and Start-Up Financing,"
Annual Review of Financial Economics, Annual Reviews, vol. 13(1), pages 111-127, November.
- Janeway, W. & Nanda, R. & Rhodes-Kropf, M., 2021. "Venture Capital Booms and Startup Financing," Cambridge Working Papers in Economics 2147, Faculty of Economics, University of Cambridge.
- Block, Joern & Fisch, Christian & Vismara, Silvio & Andres, René, 2019. "Private equity investment criteria: An experimental conjoint analysis of venture capital, business angels, and family offices," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 329-352.
- Andrew Metrick & Ayako Yasuda, 2011.
"Venture Capital and Other Private Equity: a Survey,"
European Financial Management, European Financial Management Association, vol. 17(4), pages 619-654, September.
- Andrew Metrick & Ayako Yasuda, 2010. "Venture Capital and Other Private Equity: A Survey," NBER Working Papers 16652, National Bureau of Economic Research, Inc.
- Metrick, Andrew & Yasuda, Ayako, 2010. "Venture Capital and Other Private Equity: A Survey," Working Papers 11-06, University of Pennsylvania, Wharton School, Weiss Center.
- Marco Da Rin & María Fabiana Penas, 2017.
"Venture capital and innovation strategies,"
Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 26(5), pages 781-800.
- Da Rin, M. & Penas, M.F., 2015. "Venture Capital and Innovation Strategies," Other publications TiSEM 12c9c009-13c2-4579-aa87-4, Tilburg University, School of Economics and Management.
- Da Rin, Marco & Penas, Maria, 2015. "Venture Capital and Innovation Strategies," Other publications TiSEM 6aaa2b8c-d388-4a92-9835-e, Tilburg University, School of Economics and Management.
- Da Rin, M. & Penas, M.F., 2015. "Venture Capital and Innovation Strategies," Discussion Paper 2015-009, Tilburg University, Tilburg Law and Economic Center.
- Da Rin, M. & Penas, M.F., 2015. "Venture Capital and Innovation Strategies," Discussion Paper 2015-028, Tilburg University, Center for Economic Research.
- Da Rin, M. & Penas, M.F., 2015. "Venture Capital and Innovation Strategies," Other publications TiSEM b1fa60be-4744-45a8-8b43-8, Tilburg University, School of Economics and Management.
- Da Rin, Marco & Penas, Maria, 2015. "Venture Capital and Innovation Strategies," Discussion Paper 2015-009, Tilburg University, Tilburg Law and Economic Center.
- Ting-Kai Chou & Jia-Chi Cheng & Chin-Chen Chien, 2013. "How useful is venture capital prestige? Evidence from IPO survivability," Small Business Economics, Springer, vol. 40(4), pages 843-863, May.
- Bellucci, Andrea & Borisov, Alexander & Gucciardi, Gianluca & Zazzaro, Alberto, 2023.
"The reallocation effects of COVID-19: Evidence from venture capital investments around the world,"
Journal of Banking & Finance, Elsevier, vol. 147(C).
- Andrea Bellucci & Alexander Borisov & Gianluca Gucciardi & Alberto Zazzaro, 2020. "The Reallocation Effects of COVID-19: Evidence from Venture Capital Investments around the World," Mo.Fi.R. Working Papers 167, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
- Andrea Bellucci & Alexander Borisov & Gianluca Gucciardi & Alberto Zazzaro, 2022. "The Reallocation Effects of COVID-19: Evidence from Venture Capital Investments around the World," CSEF Working Papers 638, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Andrea Bellucci & Alexander Borisov & Gianluca Gucciardi & Alberto Zazzaro, 2021. "The Reallocation Effects of COVID-19: Evidence from Venture Capital Investments around the World," CSEF Working Papers 602, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Barg, Johannes A. & Drobetz, Wolfgang & Momtaz, Paul P., 2021. "Valuing start-up firms: A reverse-engineering approach for fair-value multiples from venture capital transactions," Finance Research Letters, Elsevier, vol. 43(C).
- Rin, Marco Da & Hellmann, Thomas & Puri, Manju, 2013.
"A Survey of Venture Capital Research,"
Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, volume 2, chapter 0, pages 573-648,
Elsevier.
- Da Rin, M. & Hellmann, T. & Puri, M.L., 2011. "A Survey of Venture Capital Research," Other publications TiSEM eb956105-daa7-4a03-8392-6, Tilburg University, School of Economics and Management.
- Marco Da Rin & Thomas F. Hellmann & Manju Puri, 2011. "A survey of venture capital research," NBER Working Papers 17523, National Bureau of Economic Research, Inc.
- Da Rin, M. & Hellmann, T. & Puri, M.L., 2011. "A Survey of Venture Capital Research," Discussion Paper 2011-111, Tilburg University, Center for Economic Research.
- Wei‐Huei Hsu & Sian Owen & Jo‐Ann Suchard, 2020. "The value of ongoing venture capital investment to newly listed firms," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(2), pages 1327-1349, June.
- Grilli, Luca & Murtinu, Samuele, 2014. "Government, venture capital and the growth of European high-tech entrepreneurial firms," Research Policy, Elsevier, vol. 43(9), pages 1523-1543.
- Da Rin, Marco, 2016. "Financing Growth through Venture Capital in Asia and the Pacific," Other publications TiSEM 9fb91a28-6b54-41ce-a01d-9, Tilburg University, School of Economics and Management.
- Massimo G. Colombo & Samuele Murtinu, 2017. "Venture Capital Investments in Europe and Portfolio Firms' Economic Performance: Independent Versus Corporate Investors," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 26(1), pages 35-66, February.
- Josh Lerner & Ramana Nanda, 2020.
"Venture Capital's Role in Financing Innovation: What We Know and How Much We Still Need to Learn,"
Journal of Economic Perspectives, American Economic Association, vol. 34(3), pages 237-261, Summer.
- Josh Lerner & Ramana Nanda, 2020. "Venture Capital’s Role in Financing Innovation: What We Know and How Much We Still Need to Learn," NBER Working Papers 27492, National Bureau of Economic Research, Inc.
- Ewens, Michael & Gorbenko, Alexander & Korteweg, Arthur, 2022.
"Venture capital contracts,"
Journal of Financial Economics, Elsevier, vol. 143(1), pages 131-158.
- Ewens, Michael & Gorbenko, Alexander & Korteweg, Arthur, 2019. "Venture Capital Contracts," SocArXiv hk38u, Center for Open Science.
- Michael Ewens & Alexander S. Gorbenko & Arthur Korteweg, 2019. "Venture Capital Contracts," NBER Working Papers 26115, National Bureau of Economic Research, Inc.
- Jia, Ning & Wang, Dan, 2017. "Skin in the game: General partner capital commitment, investment behavior and venture capital fund performance," Journal of Corporate Finance, Elsevier, vol. 47(C), pages 110-130.
- Michael M. Moedl, 2021. "Two’s a company, three’s a crowd: Deal breaker terms in equity crowdfunding for prospective venture capital," Small Business Economics, Springer, vol. 57(2), pages 927-952, August.
- Ramana Nanda & Matthew Rhodes-Kropf, 2017.
"Coordination Frictions in Venture Capital Syndicates,"
Harvard Business School Working Papers
17-089, Harvard Business School, revised Dec 2018.
- Ramana Nanda & Matthew Rhodes-Kropf, 2018. "Coordination Frictions in Venture Capital Syndicates," NBER Working Papers 24517, National Bureau of Economic Research, Inc.
More about this item
Keywords
kill zone; platform; big tech; venture capital; innovation;All these keywords.
JEL classification:
- G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
- L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
- L44 - Industrial Organization - - Antitrust Issues and Policies - - - Antitrust Policy and Public Enterprise, Nonprofit Institutions, and Professional Organizations
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CFN-2021-09-13 (Corporate Finance)
- NEP-COM-2021-09-13 (Industrial Competition)
- NEP-CWA-2021-09-13 (Central and Western Asia)
- NEP-ENT-2021-09-13 (Entrepreneurship)
- NEP-IND-2021-09-13 (Industrial Organization)
- NEP-INO-2021-09-13 (Innovation)
- NEP-ISF-2021-09-13 (Islamic Finance)
- NEP-PAY-2021-09-13 (Payment Systems and Financial Technology)
- NEP-SBM-2021-09-13 (Small Business Management)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:itsb21:238049. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: http://www.itsworld.org/ .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.