Gathering round Big Tech: How the market for acquisitions concentrates the digital sector

IF 5.6 2区 经济学 Q1 DEVELOPMENT STUDIES
Carolin Ioramashvili, Maryann Feldman, Frederick Guy, Simona Iammarino
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引用次数: 0

Abstract

Small businesses within the digital sector are spread across the USA. However, a significant number of promising small businesses concentrate in major technology hubs, either initially or through relocation. This phenomenon can be attributed to the influential role played by localized markets for financing and acquisition, which is, in turn, driven by the dominant market positions held by major digital platforms. Our research demonstrates a clear pattern of localized acquisition markets, particularly in sectors frequently targeted by the seven largest American digital giants—Amazon, Alphabet (Google), Apple, Microsoft, Meta (Facebook), Oracle, and Adobe, collectively known as ‘Big Tech’. This localization trend has become more pronounced between 2000 and 2020. Our analysis indicates that the gravitational pull of these acquisition markets poses challenges to local initiatives aimed at fostering digital businesses. These efforts would be more successful if measures were taken to limit the market influence of digital platforms.
聚集在大科技领域:收购市场如何集中数字行业
数字行业的小型企业遍布美国。然而,大量有前途的小企业集中在主要的技术中心,有的最初就在那里,有的则通过搬迁在那里落户。这一现象可归因于本地化的融资和收购市场所发挥的影响力,而这又是由主要数字平台所占据的市场主导地位所推动的。我们的研究表明,本地化收购市场的模式非常明显,尤其是在美国七大数字巨头--亚马逊、Alphabet(谷歌)、苹果、微软、Meta(脸书)、甲骨文和 Adobe(统称 "大科技")--经常瞄准的领域。从 2000 年到 2020 年,这种本地化趋势更加明显。我们的分析表明,这些收购市场的引力对旨在培育数字企业的本地举措构成了挑战。如果能采取措施限制数字平台的市场影响力,这些努力将会更加成功。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
7.90
自引率
4.50%
发文量
40
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