Does Market Concentration Promote or Reduce New Product Introductions? Evidence from US Food Industry

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(9)

MERGERS

(10)

MERGERS

(11)

MERGERS

(12)

MERGERS

(13)

MERGERS

(14)

MERGERS

(15)

MERGERS

--------

(16)
MERGERS

NPILAG3

0.015

0.013

0.013

0.013

--------

(4.46)***

(3.67)***

(3.79)***

(3.50)***

NPILAG4

0.018

0.017

0.015

0.017

(5.21)***

(4.61)***

(4.78)***

(4.18)***

NLAG3

0.748

0.140

0.229

(1.03)

(0.39)

(0.28)

NLAG4

-0.333

-0.721

-0.357

(0.46)

(1.90)*

(0.47)

USMERGERS

-0.007

-0.005

0.001

-0.007

-0.001

-0.004

(1.29)

(0.77)

(0.29)

(1.93)*

(0.12)

(0.56)

SGRLAG3

2.940

2.809

2.628

(1.66)*

(1.87)*

(1.20)

SGRLAG4

1.089

1.619

1.173

(0.45)

(0.70)

(0.46)

CONSTANT

-96.700

34.407

-10.116

-9.794

-25.968

85.159

-35.753

36.917

(1.08)

(0.34)

(0.27)

(0.28)

(0.46)

(1.44)

(0.35)

(0.35)

------------

Elasticity

1.101

1.307

.949

1.276

.943

1.151

.959

--------

1.241

(4.37)***

(5.09)***

(3.63)***

(4.53)***

(3.74)***

(4.69)***

(3.46)***

(4.11)***

------------

Observations

14

14

14

14

14

14

14

--------

14

R-squared

0.72

0.76

0.76

0.75

0.76

0.75

0.76

0.76

---------------------

Breusch-Godfrey test

for autocorrelation (H0:

no serial correlation)

--------

LM stats

0.797

1.067

0.706

0.803

0.721

1.026

0.731

0.921

p-value
_ _ _ _ _ _ _ _ _ _ _ _

0.3721

0.3016

0.4007

0.3703

0.3959

0.3110

0.3925

0.3372
_ _ _ _ _ _ _ _ _