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Highly skilled and well connected: Migrant inventors in cross-border M&As

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  • Diego Useche

    () (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes - CNRS - Centre National de la Recherche Scientifique)

  • Ernest Miguelez

    () (GREThA - Groupe de Recherche en Economie Théorique et Appliquée - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique, University of Barcelona, AQR-IREA)

  • Francesco Lissoni

    (GREThA - Groupe de Recherche en Economie Théorique et Appliquée - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique, Universita Bocconi - Università Bocconi)

Abstract

Based on a relational view of international business, we investigate the role of migrant inventors in cross-border mergers and acquisitions undertaken by R&D-active firms. We hypothesize that the migrant inventors' international social networks can be leveraged by their employers in order to identify and/or integrate relevant knowledge bases of acquisition targets in the inventors' home country. We nuance our hypothesis by means of several conditional logistic regressions on a large matched sample of deals and control cases. The impact of migrant inventors increases with the distance between countries and for targets located in countries with weak administrative/legal systems, as well as when targets are either innovative or belong to high-tech sectors or to the same sector as the acquirer, and for full versus partial acquisitions.

Suggested Citation

  • Diego Useche & Ernest Miguelez & Francesco Lissoni, 2019. "Highly skilled and well connected: Migrant inventors in cross-border M&As," Post-Print halshs-02024499, HAL.
  • Handle: RePEc:hal:journl:halshs-02024499
    DOI: 10.1057/s41267-018-0203-3
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-02024499
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    1. Mahroum, Sami & Zahradnik, Georg & Dachs, Bernhard, 2017. "Ethnic Inventors: A Critical Survey of the Contribution of People of Middle Eastern Ethnic Backgrounds to the US Innovation System," MPRA Paper 77869, University Library of Munich, Germany.

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    Keywords

    cross-border mergers and acquisitions; migration; inventors; PCT patents;

    JEL classification:

    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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