DIRECTOR
Mª Angeles de Frutos Casado
RESEARCH TEAM
Carmine Ornaghi, Georges Siotis, Natallia Fabra Portela.
COLLABORATING INSTITUTIONS
Universidad Carlos III de Madrid
DESCRIPTION
A number of questions merit closer analysis: i) what relationship exists between innovation and merger decisions? ii) Do patent data shed light on who is merging with whom? iii) Do mergers have a positive effect on companies’ innovation capacity?
These questions will be studied empirically with data from pharmaceutical industry mergers. The advantage of analysing a single industry is that it allows us to zero in on strategic questions, since any exogenous/non strategic changes that alter merger returns will be common to all sector operators.