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Mergers & acquisitions and innovation performance in the telecommunications equipment industry
DIW Berlin, Germany.
DIW Berlin, Germany.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
Oxford University Press (OUP) , 2012. Vol. 21, no 2, p. 277-314
Keywords [en]
Mergers & Acquisitions, Innovation Performance, Telecommunications Equipment Industry, Economics, Nationalekonomi
National Category
Economics
Research subject
Economy, Economics
Identifiers
URN: urn:nbn:se:lnu:diva-107943DOI: 10.1093/icc/dtr052OAI: oai:DiVA.org:lnu-107943DiVA, id: diva2:1611216
Available from: 2021-11-13 Created: 2021-11-13 Last updated: 2021-11-26Bibliographically approved

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Stephan, Andreas

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