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To explore or to exploit? An empirical investigation of acquisitions by large incumbents

  • Wagner, Marcus

Innovation in high technology industries poses considerable challenges, frequently forcing firms to consider using acquisitions as a means of sourcing technology. This paper investigates such behaviour in a major high technology sector, namely the semiconductor industry. The paper focuses on differential effects of technology-related versus nontechnological acquisitions on exploratory and exploitative research and innovation. Most importantly, it confirms the important role of technology-related acquisitions for exploratory innovation.

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Article provided by Elsevier in its journal Research Policy.

Volume (Year): 40 (2011)
Issue (Month): 9 ()
Pages: 1217-1225

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Handle: RePEc:eee:respol:v:40:y:2011:i:9:p:1217-1225
Contact details of provider: Web page: http://www.elsevier.com/locate/respol

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