Mergers & Acquisitions and Innovation Performance in the Telecommunications Equipment Industry
AbstractThe worldwide telecommunications equipment industry has experienced an enormous number of mergers and acquisitions (M&A). This paper 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 post-merger innovation performance, in turn, is driven by both the prior success of inhouse R&D commitment and the deterioration of internal technological capabilities at acquiring firms.
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Bibliographic InfoPaper provided by Jönköping International Business School in its series JIBS Working Papers with number 2011-5.
Length: 37 pages
Date of creation: 24 Aug 2011
Date of revision:
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Postal: Jönköping International Business School, P.O. Box 1026, SE-551 11 Jönköping, Sweden
Web page: http://www.jibs.hj.se/
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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.
- 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.
- Tseveen Gantumur & Andreas Stephan, 2007. "Mergers & Acquisitions and Innovation Performance in the Telecommunications Equipment Industry," Discussion Papers of DIW Berlin 728, DIW Berlin, German Institute for Economic Research.
- 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.
- L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
- 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
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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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