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Mergers and acquisitions, technological efforts and exports: a study of pharmaceutical sector in India

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  • Vidhisha Vyas
  • K. Narayanan
  • A. Ramanathan

Abstract

The paper attempts to examine the role of mergers and acquisitions (M&A) and technological efforts in determining the export competitiveness of firms belonging to the pharmaceutical sector in India. M&A provides synergistic gains to firms. New competitive advantages arise from the complementarities of merging and acquiring firms' specific intangible assets like production skills, brand names and better management capabilities. These gains could affect positively the export behaviour of domestic firms and increase their degree of internationalization. Technological efforts and other factors like firm size, age, multinational enterprise affiliation (MNEA) and capital intensity are also considered in the study. Two different econometric models, namely Tobit and Double Specification models are used for estimation and the results have been compared. The results of econometric exercise confirm that M&A, technological efforts, size and firm-specific characteristics are important in explaining export behaviour of firms.

Suggested Citation

  • Vidhisha Vyas & K. Narayanan & A. Ramanathan, 2013. "Mergers and acquisitions, technological efforts and exports: a study of pharmaceutical sector in India," Innovation and Development, Taylor & Francis Journals, vol. 3(2), pages 169-186, October.
    • Handle: RePEc:taf:riadxx:v:3:y:2013:i:2:p:169-186
    DOI: 10.1080/2157930X.2013.828882
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    Cited by:

    1. Kumar, Rajesh & Agarwala, Arun, 2016. "Renewable energy technology diffusion model for techno-economics feasibility," Renewable and Sustainable Energy Reviews, Elsevier, vol. 54(C), pages 1515-1524.
    2. Pulak Mishra & Neha Jaiswal, 2017. "Impact of Mergers and Acquisitions on Firms’ Export Competitiveness," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 18(1), pages 1-20, March.
    3. Pulak Mishra, 2018. "Are Mergers and Acquisitions Necessarily Anti-competitive? Empirical Evidence from India’s Manufacturing Sector," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 12(3), pages 276-307, August.
    4. sethi, Kalyani & mishra, Dr. Bikash Ranjan, 2023. "An assessment of traditional knowledge-based medicine companies and western medicine companies: a comparative study of efficiency," MPRA Paper 116182, University Library of Munich, Germany.

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