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Mergers & acquisitions and innovation performance in the telecommunications equipment industry
DIW Berlin, Germany.
Jönköping University, Jönköping International Business School, JIBS, Economics, Finance and Statistics. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).ORCID iD: 0000-0001-5776-9396
2012 (English)In: Industrial and Corporate Change, ISSN 0960-6491, E-ISSN 1464-3650, Vol. 21, no 2, p. 277-314Article in journal (Refereed) Published
Abstract [en]

The worldwide telecommunications equipment industry has experienced an enormous number of mergers and acquisitions (M&A). This article examines the innovation determinants of M&A activity and the consequences of M&A on technological potential and innovation performance. We extend the resource-based theory in elucidating external technology sourcing and provide empirical evidence on the keen reliance of the equipment firms on M&A as a technology sourcing strategy for the period 1988–2004. Employing the matching propensity score approach, this study provides evidence that mergers realize a significant growth in the innovation performance of firms. The postmerger innovation performance, in turn, is driven by both the prior success of in-house R&D commitment and the deterioration of internal technological capabilities at acquiring firms.

Place, publisher, year, edition, pages
2012. Vol. 21, no 2, p. 277-314
Keywords [en]
Mergers & Acquisitions, Innovation Performance, Telecommunications Equipment Industry
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-14889DOI: 10.1093/icc/dtr052ISI: 000301978500002Scopus ID: 2-s2.0-84859042514Local ID: IHHEFSISOAI: oai:DiVA.org:hj-14889DiVA, id: diva2:412972
Available from: 2011-04-27 Created: 2011-04-27 Last updated: 2018-10-23Bibliographically approved

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Stephan, Andreas

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  • de-DE
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