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The impact of M&A on technology sourcing strategies

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  • Elena Cefis
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    Abstract

    The paper investigates the effects of mergers and acquisitions (M&A) on corporate research and development (R&D) strategies using Community Innovation Survey data on the Dutch manufacturing sector. The focus of the research is whether M&A affect corporate innovation strategies, favouring in-house R&D and innovation expenses versus external technological sourcing. The results show that M&A activities have a positive and significant impact on innovation investments by firms, and particularly on R&D intensity and total expenditure on innovation. M&A affect corporate innovation strategies, favouring in-house R&D versus external technological sourcing. Firm post-merger behaviour favours the consolidation of the knowledge, competences and capabilities that have been acquired by merging with or by buying another firm, confirming that the reasons for a merger or acquisition are most often related to firms' innovative performance. Following involvement in M&A, firms tend primarily to focus on full integration of their resource bases in order to enable them to produce and sell innovative products that are new to the market.

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    File URL: http://www.tandfonline.com/doi/abs/10.1080/10438590903016385
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Economics of Innovation and New Technology.

    Volume (Year): 19 (2010)
    Issue (Month): 1 ()
    Pages: 27-51

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    Handle: RePEc:taf:ecinnt:v:19:y:2010:i:1:p:27-51

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    Web page: http://www.tandfonline.com/GEIN20

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    Related research

    Keywords: technology sourcing; innovation; M&A; Heckman two-stage; bitobit;

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