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- W3123516486 abstract "Every year thousands of …rms are engaged in research joint ventures (RJV), where all knowl- edge gained through R&D is shared among members. Most of the empirical literature as- sumes members are non-cooperative in the product market. But many RJV members are rivals leaving open the possibility that …rms may form RJVs to facilitate collusion. We ex- amine this by exploiting variation in RJV formation generated by a policy change that aects the collusive bene…ts but not the research synergies associated with a RJV. We use data on RJVs formed between 1986 and 2001 together with …rm-level information from Compustat to estimate a RJV participation equation. After correcting for the endogeneity of R&D and controlling for RJV characteristics and …rm attributes, we …nd the decision to join is impacted by the policy change. We also …nd the magnitude is signi…cant: the policy change resulted in an average drop in the probability of joining a RJV of 34% among telecommu- nications …rms, 33% among computer and semiconductor manufacturers, and 27% among petroleum re…ning …rms. Our results are consistent with research joint ventures serving a collusive function." @default.
- W3123516486 created "2021-02-01" @default.
- W3123516486 creator A5046411038 @default.
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- W3123516486 date "2021-09-13" @default.
- W3123516486 modified "2023-09-26" @default.
- W3123516486 title "Do Research Joint Ventures Serve a Collusive Function" @default.
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- W3123516486 doi "https://doi.org/10.5167/uzh-51900" @default.
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