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Dynamics of R&D networked relationships and mergers and acquisitions in the smart card field

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  • M'Chirgui, Zouhaïer

Abstract

This paper analyzes how the structure and the evolution of inter-firm agreements have shaped the development of the smart card industry. The aim is to establish a closer connection between the evolution of inter-firm agreements in the smart card industry and the patterns of change of technology and demand in this new high-tech industry. Based on a proprietary database covering both collaborative agreements and mergers and acquisitions (M&As) occurring in this industry over the period 1992-2006, we find that the evolution of technology and market demand shapes the dynamics of R&D networks and M&As are likely to change the industry structure. We also find that a small group of producers - first-movers - still control the industry and technological trajectories. Their position arises not for oligopolistic reasons of market structure, but for technological and organizational reasons.

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  • M'Chirgui, Zouhaïer, 2009. "Dynamics of R&D networked relationships and mergers and acquisitions in the smart card field," Research Policy, Elsevier, vol. 38(9), pages 1453-1467, November.
  • Handle: RePEc:eee:respol:v:38:y:2009:i:9:p:1453-1467
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