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Mergers & Acquisitions and Innovation Performance in the Telecommunications Equipment Industry

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Author Info

  • Gantumur, Tseveen

    (DIW Berlin)

  • Stephan, Andreas

    ()
    (Jönköping International Business School and DIW Berlin)

Abstract

The 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 Info

Paper provided by Jönköping International Business School in its series JIBS Working Papers with number 2011-5.

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Length: 37 pages
Date of creation: 24 Aug 2011
Date of revision:
Handle: RePEc:hhb:hjacfi:2011_005

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Postal: Jönköping International Business School, P.O. Box 1026, SE-551 11 Jönköping, Sweden
Phone: 036-157700
Fax: 036-165069
Web page: http://www.jibs.hj.se/
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Keywords: Mergers & Acquisitions; Innovation Performance; Telecommunications Equipment Industry;

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Cited by:
  1. 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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