Mergers & Acquisitions and Innovation Performance in the Telecommunications Equipment Industry
AbstractThe telecommunications in the 1990s witnessed an enormous worldwide round of Mergers & Acquisitions (M&A). This paper examines the innovation determinants of M&A activity and the consequences of M&A transactions on the technological potential and the innovation performance. We examine the telecommunications equipment industry over the period 1988-2002 using a newly constructed data set with firm-level data describing M&A and innovation activity as well as financial characteristics. Based on a matching propensity score procedure, the study provides evidence that M&A realize significantly positive changes to the firm's post-merger innovation performance.
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Bibliographic InfoPaper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number 728.
Length: 33 p.
Date of creation: 2007
Date of revision:
Publication status: Published in: Industrial and Corporate Change 21 (2012) No. 2, 277-314
Mergers & Acquisitions; Innovation Performance; Telecommunications Equipment Industry;
Other versions of this item:
- Tseveen Gantumur & Andreas Stephan, 2012. "Mergers & acquisitions and innovation performance in the telecommunications equipment industry," Industrial and Corporate Change, Oxford University Press, vol. 21(2), pages 277-314, April.
- Gantumur, Tseveen & Stephan, Andreas, 2011. "Mergers & Acquisitions and Innovation Performance in the Telecommunications Equipment Industry," JIBS Working Papers 2011-5, Jönköping International Business School.
- Gantumur, Tseveen & Stephan, Andreas, 2007. "Mergers & Acquisitions And Innovation Performance In The Telecommunications Equipment Industry," Working Paper Series in Economics and Institutions of Innovation 111, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
- Tseveen Gantumur & Andreas Stephan, 2007. "Mergers & Acquisitions and Innovation Performance in the Telecommunications Equipment Industry," SFB 649 Discussion Papers SFB649DP2007-051, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
- L63 - Industrial Organization - - Industry Studies: Manufacturing - - - Microelectronics; Computers; Communications Equipment
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-10-13 (All new papers)
- NEP-BEC-2007-10-13 (Business Economics)
- NEP-COM-2007-10-13 (Industrial Competition)
- NEP-CSE-2007-10-13 (Economics of Strategic Management)
- NEP-EFF-2007-10-13 (Efficiency & Productivity)
- NEP-IND-2007-10-13 (Industrial Organization)
- NEP-INO-2007-10-13 (Innovation)
- NEP-MIC-2007-10-13 (Microeconomics)
- NEP-TID-2007-10-13 (Technology & Industrial Dynamics)
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- Volodymyr Perederiy, 2007. "Kombinierte Liquiditäts- und Solvenzkennzahlen und ein darauf basierendes Insolvenzprognosemodell für deutsche GmbHs," SFB 649 Discussion Papers SFB649DP2007-060, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
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