How do innovations affect mergers and acquisitions - Evidence from Finland?

Journal of Industry, Competition and Trade

Volumn 6, Issue 1, 2006, Pages 5-25

  Lehto, Eero ^a   Lehtoranta, Olavi ^b  

^a LABOUR INSTITUTE FOR ECONOMIC RESEARCH   (Finland)

^b Statistics Finland   (Finland)

Author keywords

Acquisitions; Innovations; Mergers

Indexed keywords

EID: 31144452555     PISSN: 15661679     EISSN: None     Source Type: Journal    
DOI: 10.1007/s10842-005-5647-z     Document Type: Article

References (25)

1. Acs, Z. and Audretsch, D., Innovation and Small Firms. The MIT Press: Cambridge, MA, 1990.
2. Aghion, P. and Tirole, J., "The management of innovation," Quarterly Journal of Economic Research, vol. 109 pp. 1185-1210, 1994.
3. Blonigen, B. and Taylor, C., "R&D intensity and acquisitions in high-technology industries: Evidence from the US electronic and electrical equipment industries," The Journal of Industrial Economics, vol. 48 pp. 47-70, 2000.
4. Cabral, R. and Leiblein, M., "Adoption of a process innovation with learning-by-doing: Evidence from the semiconductor industry," The Journal of Industrial Economics, vol. 49 pp. 269-280, 2001.
5. Choi, J., "Technology transfer with moral hazard," International Journal of Industrial Organization, vol. 19 pp. 249-266, 2001.
6. Cohen, W. and Klepper, S., "Firm size and the nature of innovation within industries: The case of process and product R&D," The Review of Economics and Statistics, vol. 78 pp. 232-243, 1996.
7. Gallini, N. and Winter, R., "Licensing in the theory of innovation," Rand Journal of Economics, vol. 16 pp. 237-252, 1985.
8. Granstrand, O. and Sjölander, S., "The acquisition of technology and small firms by large firms," Journal of Economic Behavior and Organization, vol. 13 pp. 367-386, 1990.
9. Hart, O., Firms, Contracts and Financial Structure. Clarendon Press: Oxford, 1995.
10. Hausman, J., Hall, B. and Griliches, Z., "Econometric models for count data with an application to the patents-R&D relationship," Econometrica, vol. 52 pp. 909-938, 1984.
11. Hämäläinen, T. and Schienstock, G., "The comparative advantage of networks in economic organization: Efficiency and innovation in highly specialized and uncertain environments," Innovative Networks, Co-operation in National Innovative Systems. OECD Proceedings, pp. 17-45, 2001.
12. Jensen, M., "Takeovers: Their causes and consequences," Journal of Economic Perspectives, vol. 2 pp. 21-48, 1988.
13. Katz, M. and Shapiro, C., "On the licensing of innovations," Rand Journal of Economics, vol. 16 pp. 504-520, 1985.
14. Kogut, B. and Zander, U., "Knowledge of the firm, combinative capabilities, and the replication of technology," Organization Science, vol. 3 pp. 383-397, 1992.
15. Lehto, E. and Lehtoranta, O., "Becoming an acquirer and becoming acquired," Technological Forecasting and Social Change, vol. 51 pp. 635-650, 2004.
16. Leppälahti, A., "Comparisons of Finnish innovation surveys," Science, Technology and Research 2000:1. Statistics Finland, 2001.
17. Palmberg, C., Leppälahti, A., Lemola, T. and Toivanen, H., "Towards a better understanding and industrial renewal in Finland-a new perspective," VTT, Group for Technology. Working Papers 41/99, 1999.
18. Pisano, G., "The R&D boundaries of the firm: An empirical analysis," Administrative Science Quarterly, vol. 35 pp. 153-176, 1990.
19. Radnor, M., "Technology acquisition strategies and processes: A reconsideration of the make versus buy decision," International Journal of Technology Management, pp. 113-135, 1991.
20. Spender, J.-C., "Making knowledge the basis of a dynamic theory of the firm," Strategic Management Journal, vol. 17 pp. 45-62, Winter Special Issue, 1996.
21. Teece, D., "Profiting from technological innovation: Implications for integration, collaborating, licensing and public policy," Research Policy, vol. 15 pp. 285-305, 1986.
22. Torbett, R., "Technological collaboration, firm size and innovation: A study of UK manufacturing firms," Innovative Networks, Co-operation in National Innovative Systems. OECD Proceedings, pp. 101-122, 2001.
23. Tremblay, V. and Tremblay, C., "The determinants of horizontal acquisitions: Evidence from the U.S. brewing industry," Journal of Industrial Economics, vol. 37 pp. 21-45, 1988.
24. Williamson, O., Markets and Hierarchies: Analysis and Antitrust Implications. Free Press: New York, 1975.
25. Williamson, O., The Economic Institutions of Capitalism, Free Press: New York, 1985.