This paper contributes to the understanding of the importance of dynamic firm capabilities for corporate performance in isolating the effect of core competences on the performance of companies. It discusses and tests the assumed relation between core competences and economic performance, including the effect of the external appropriation of these competences through mergers and acquisitions as well as through strategic technology alliances. A major conclusion is that, particularly in high-tech sectors, a specific set of endogenous technological core capabilities is needed to generate performance differentials. Also, the external appropriation of competences does not seem to be an easy solution through which companies can improve their existing capabilities.
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Paper provided by Maastricht : MERIT, Maastricht Economic Research Institute on Innovation and Technology in its series Research Memoranda with number
010.
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