To explore or to exploit? An empirical investigation of acquisitions by large incumbents
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.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Patel, Pari & Pavitt, Keith, 1997. "The technological competencies of the world's largest firms: Complex and path-dependent, but not much variety," Research Policy, Elsevier, vol. 26(2), pages 141-156, May.
- Basberg, Bjorn L., 1983. "Foreign patenting in the U.S. as a technology indicator : The case of Norway," Research Policy, Elsevier, vol. 12(4), pages 227-237, August.
- Granstrand, Ove & Sjölander, Sören, 1990. "The Acquisition of Technology and Small Firms by Large Firms," Working Paper Series 213, Research Institute of Industrial Economics.
- Desyllas, Panos & Hughes, Alan, 2010. "Do high technology acquirers become more innovative?," Research Policy, Elsevier, vol. 39(8), pages 1105-1121, October.
- Joshua S. Gans & David H. Hsu & Scott Stern, 2002.
"When Does Start-Up Innovation Spur the Gale of Creative Destruction?,"
RAND Journal of Economics,
The RAND Corporation, vol. 33(4), pages 571-586, Winter.
- Joshua S. Gans & David H. Hsu & Scott Stern, 2000. "When Does Start-Up Innovation Spur the Gale of Creative Destruction?," NBER Working Papers 7851, National Bureau of Economic Research, Inc.
- Nooteboom, B. & Gilsing, V.A. & Vanhaverbeke, W.P.M. & Duijsters, G.M. & Oord, A., 2006.
"Network Embeddedness and the Exploration of Novel Technologies : Technological Distance, Betweenness Centrality and Density,"
2006-32, Tilburg University, Center for Economic Research.
- Gilsing, Victor & Nooteboom, Bart & Vanhaverbeke, Wim & Duysters, Geert & van den Oord, Ad, 2008. "Network embeddedness and the exploration of novel technologies: Technological distance, betweenness centrality and density," Research Policy, Elsevier, vol. 37(10), pages 1717-1731, December.
- Victor Gilsing & Bart Noteboom & Wim Vanhaverbeke & Geert Duysters & Ad van Noord, 2006. "Network embeddedness and the exploration of novel technologies: technological distance, betweenness centrality and density," Working Papers 06-08, Eindhoven Center for Innovation Studies, revised Apr 2006.
- Gilsing, V.A. & Nooteboom, B. & van Haverbeke, W.P.M. & Duijsters, G.M. & Oord, A., 2008. "Network embeddedness and the exploration of novel technologies : Technological distance, betweenness centrality and density," Other publications TiSEM 762e80f1-0adc-4184-b1be-9, Tilburg University, School of Economics and Management.
- Bronwyn H. Hall & Grid Thoma & Salvatore Torrisi, 2007.
"The market value of patents and R&D: Evidence from European firms,"
NBER Working Papers
13426, National Bureau of Economic Research, Inc.
- Bronwyn H. Hall & Grid Thoma & Salvatore Torrisi, 2006. "The market value of patents and R&D: Evidence from European firms," KITeS Working Papers 186, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy, revised Nov 2006.
- Panos Desyllas & Alan Hughes, 2009. "The revealed preferences of high technology acquirers: An analysis of the innovation characteristics of their targets," Cambridge Journal of Economics, Oxford University Press, vol. 33(6), pages 1089-1111, November.
- Gustavo Crespi & Aldo Geuna & Lionel Nesta, 2007. "The mobility of university inventors in Europe," The Journal of Technology Transfer, Springer, vol. 32(3), pages 195-215, June.
- Scherer, F. M. & Harhoff, Dietmar, 2000. "Technology policy for a world of skew-distributed outcomes," Research Policy, Elsevier, vol. 29(4-5), pages 559-566, April.
- Hoetker, Glenn, 2002. "How Much You Know versus How Well I Know You: Selecting a Supplier for a Technically Innovative Component," Working Papers 02-0106, University of Illinois at Urbana-Champaign, College of Business.
- Ashish Arora & Marco Ceccagnoli, 2006. "Patent Protection, Complementary Assets, and Firms' Incentives for Technology Licensing," Management Science, INFORMS, vol. 52(2), pages 293-308, February.
- Vuong, Quang H, 1989. "Likelihood Ratio Tests for Model Selection and Non-nested Hypotheses," Econometrica, Econometric Society, vol. 57(2), pages 307-33, March.
- Christensen, Clayton M. & Rosenbloom, Richard S., 1995. "Explaining the attacker's advantage: Technological paradigms, organizational dynamics, and the value network," Research Policy, Elsevier, vol. 24(2), pages 233-257, March.
- Rebecca Henderson, 1993. "Underinvestment and Incompetence as Responses to Radical Innovation: Evidence from the Photolithographic Alignment Equipment Industry," RAND Journal of Economics, The RAND Corporation, vol. 24(2), pages 248-270, Summer.
- Puranam, Phanish & Singh, Harbir & Zollo, Maurizio, 2003. "A Bird in the Hand or Two in the Bush?: Integration Trade-offs in Technology-grafting Acquisitions," European Management Journal, Elsevier, vol. 21(2), pages 179-184, April.
- Xinlei Zhao, 2009. "Technological Innovation and Acquisitions," Management Science, INFORMS, vol. 55(7), pages 1170-1183, July.
- Dahlstrand, Asa Lindholm, 1997. "Growth and inventiveness in technology-based spin-off firms," Research Policy, Elsevier, vol. 26(3), pages 331-344, October.
- Schmoch, Ulrich, 2007. "Double-boom cycles and the comeback of science-push and market-pull," Research Policy, Elsevier, vol. 36(7), pages 1000-1015, September.
- Capron, Laurence & Mitchell, Will, 1998. "Bilateral Resource Redeployment and Capabilities Improvement Following Horizontal Acquisitions," Industrial and Corporate Change, Oxford University Press, vol. 7(3), pages 453-84, September.
- Pavitt, Keith, 1982. "R&D, patenting and innovative activities : A statistical exploration," Research Policy, Elsevier, vol. 11(1), pages 33-51, February.
- Granstrand, Ove & Sjolander, Soren, 1990. "The acquisition of technology and small firms by large firms," Journal of Economic Behavior & Organization, Elsevier, vol. 13(3), pages 367-386, June.
When requesting a correction, please mention this item's handle: RePEc:eee:respol:v:40:y:2011:i:9:p:1217-1225. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamier, Wendy)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.