Corporate Innovations and Mergers and Acquisitions
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No Canadian affiliation. An affiliation-only frame — the usual design — would never have seen this work. It is one of the works that make the case for inverting the frame.
Abstract
ABSTRACT Using a large and unique patent‐merger data set over the period 1984 to 2006, we show that companies with large patent portfolios and low R&D expenses are acquirers, while companies with high R&D expenses and slow growth in patent output are targets. Further, technological overlap between firm pairs has a positive effect on transaction incidence, and this effect is reduced for firm pairs that overlap in product markets. We also show that acquirers with prior technological linkage to their target firms produce more patents afterwards. We conclude that synergies obtained from combining innovation capabilities are important drivers of acquisitions.
Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.
The record
- Venue
- The Journal of Finance
- Topic
- Economic Growth and Productivity
- Field
- Economics, Econometrics and Finance
- Canadian institutions
- —
- Funders
- Social Sciences and Humanities Research Council of Canada
- Keywords
- Linkage (software)BusinessDatabase transactionIndustrial organizationMergers and acquisitionsMonetary economicsEconomicsFinanceDatabaseComputer science
- Has abstract in OpenAlex
- yes