메뉴 건너뛰기




Volumn 18, Issue 4, 2009, Pages 761-784

Technological effects of M&As in Spanish manufacturing

Author keywords

[No Author keywords available]

Indexed keywords

INDUSTRIAL PERFORMANCE; INDUSTRIAL PRODUCTION; MANUFACTURING; MERGER; RESEARCH AND DEVELOPMENT; TECHNOLOGICAL CHANGE; TECHNOLOGICAL DEVELOPMENT; TECHNOLOGY ADOPTION;

EID: 67949114380     PISSN: 09606491     EISSN: 14643650     Source Type: Journal    
DOI: 10.1093/icc/dtp022     Document Type: Article
Times cited : (9)

References (74)
  • 1
    • 0001637625 scopus 로고
    • Innovation in large and small firms: An empirical analysis
    • Acs, Z. J. and D. B. Audretsch (1988), 'Innovation in large and small firms: An empirical analysis,' American Economic Review, 78, 678-690.
    • (1988) American Economic Review , vol.78 , pp. 678-690
    • Acs, Z.J.1    Audretsch, D.B.2
  • 3
    • 0000614726 scopus 로고    scopus 로고
    • Technological acquisitions and the innovation performance of acquiring firms: A longitudinal study
    • Ahuja, G. and R. Katila (2001), 'Technological acquisitions and the innovation performance of acquiring firms: A longitudinal study,' Strategic Management Journal, 22, 197-220.
    • (2001) Strategic Management Journal , vol.22 , pp. 197-220
    • Ahuja, G.1    Katila, R.2
  • 5
    • 27744480263 scopus 로고    scopus 로고
    • Technology and the generation of internal knowledge spillovers: An application to Spanish manufacturing firms
    • Álvarez, I. and J. Molero (2005), 'Technology and the generation of internal knowledge spillovers: An application to Spanish manufacturing firms,' Research Policy, 34, 1440-1452.
    • (2005) Research Policy , vol.34 , pp. 1440-1452
    • Álvarez, I.1    Molero, J.2
  • 6
    • 17744362141 scopus 로고    scopus 로고
    • Using acquisitions to access multinational diversity: Thinking beyond the domestic versus cross-border M&A comparison
    • Anand, J., L. Capron and W. Mitchel (2005), 'Using acquisitions to access multinational diversity: Thinking beyond the domestic versus cross-border M&A comparison,' Industrial and Corporate Change, 14, 191-224.
    • (2005) Industrial and Corporate Change , vol.14 , pp. 191-224
    • Anand, J.1    Capron, L.2    Mitchel, W.3
  • 7
    • 0036475239 scopus 로고    scopus 로고
    • Absolute and relative resources as determinants of international acquisitions
    • Anand, J. and A. Delios (2002), 'Absolute and relative resources as determinants of international acquisitions,' Strategic Management Journal,23, 119-134.
    • (2002) Strategic Management Journal , vol.23 , pp. 119-134
    • Anand, J.1    Delios, A.2
  • 8
    • 0031531436 scopus 로고    scopus 로고
    • Technological capabilities of countries, firm rivalry and foreign direct investment
    • Anand, J. and B. Kogut (1997), 'Technological capabilities of countries, firm rivalry and foreign direct investment,' Journal of International Business Studies, 28, 445-465.
    • (1997) Journal of International Business Studies , vol.28 , pp. 445-465
    • Anand, J.1    Kogut, B.2
  • 9
    • 27744575066 scopus 로고
    • Some tests of specification for panel data
    • Arellano, M. and S. Bond (1991), 'Some tests of specification for panel data,' Journal of Econometrics, 59, 87-97.
    • (1991) Journal of Econometrics , vol.59 , pp. 87-97
    • Arellano, M.1    Bond, S.2
  • 10
    • 58149364940 scopus 로고
    • Another look at the instrumental variable estimation of error-components models
    • Arellano, M. and O. Bover (1995), 'Another look at the instrumental variable estimation of error-components models,' Journal of Econometrics, 68, 29-51.
    • (1995) Journal of Econometrics , vol.68 , pp. 29-51
    • Arellano, M.1    Bover, O.2
  • 11
    • 85043059376 scopus 로고    scopus 로고
    • Corporate restructuring and R&D: A panel data analysis for the chemical industry
    • Bocconi University
    • Arora, A., M. Ceccagnoli and M. Da Rin (2000), 'Corporate restructuring and R&D: A panel data analysis for the chemical industry,' Working Paper 173, IGIER. Bocconi University.
    • (2000) Working Paper 173, IGIER
    • Arora, A.1    Ceccagnoli, M.2    Da Rin, M.3
  • 12
    • 0032220626 scopus 로고    scopus 로고
    • International expansion through start-up or acquisition: A learning perspective
    • Barkema, H. G. and F. Vermeulen (1998), 'International expansion through start-up or acquisition: A learning perspective,' Academy of Management Journal, 41, 7-26.
    • (1998) Academy of Management Journal , vol.41 , pp. 7-26
    • Barkema, H.G.1    Vermeulen, F.2
  • 13
    • 0000858299 scopus 로고
    • Diversification strategy and R&D intensity in large multiproduct firms
    • Baysinger, B. D. and R. E. Hoskisson (1989), 'Diversification strategy and R&D intensity in large multiproduct firms,' Academy of Management Journal, 32, 310-332.
    • (1989) Academy of Management Journal , vol.32 , pp. 310-332
    • Baysinger, B.D.1    Hoskisson, R.E.2
  • 14
    • 32344449395 scopus 로고    scopus 로고
    • R&D and M&A: Are cross-border M&As different? An investigation in OECD countries
    • Bertrand, O. and P. Zuniga (2006), 'R&D and M&A: Are cross-border M&As different? An investigation in OECD countries,' International Journal of Industrial Organisation, 24, 401-423.
    • (2006) International Journal of Industrial Organisation , vol.24 , pp. 401-423
    • Bertrand, O.1    Zuniga, P.2
  • 15
    • 0034391638 scopus 로고    scopus 로고
    • R&D intensity and acquisitions in high technology industries: Evidence from the US electronic and electrical equipment industries
    • Bloningen, B. and C. Taylor (2000), 'R&D intensity and acquisitions in high technology industries: Evidence from the US electronic and electrical equipment industries,' Journal of Industrial Economics, 48, 47-71.
    • (2000) Journal of Industrial Economics , vol.48 , pp. 47-71
    • Bloningen, B.1    Taylor, C.2
  • 16
    • 0001438979 scopus 로고    scopus 로고
    • Initial conditions and moment restrictions in dynamic panel data models
    • Blundell, R. and S. Bond (1998), 'Initial conditions and moment restrictions in dynamic panel data models,' Journal of Econometrics 87, 115-143.
    • (1998) Journal of Econometrics , vol.87 , pp. 115-143
    • Blundell, R.1    Bond, S.2
  • 18
    • 27544449356 scopus 로고    scopus 로고
    • MNE competence-creating subsidiary mandates
    • Cantwell, J. and R. Mudambi (2005), 'MNE competence-creating subsidiary mandates,' Strategic Management Journal, 26, 1109-1128.
    • (2005) Strategic Management Journal , vol.26 , pp. 1109-1128
    • Cantwell, J.1    Mudambi, R.2
  • 19
    • 0034123956 scopus 로고    scopus 로고
    • Accumulating technological competence: Its changing impact on corporate diversification and internationalization
    • Cantwell, J. and L. Piscitello (2000), 'Accumulating technological competence: Its changing impact on corporate diversification and internationalization,' Industrial and Corporate Change, 9, 21-51.
    • (2000) Industrial and Corporate Change , vol.9 , pp. 21-51
    • Cantwell, J.1    Piscitello, L.2
  • 20
    • 85043085796 scopus 로고    scopus 로고
    • The boundaries of firms in the new economy: The impact of M&A on corporate technological profiles
    • on 'Industrial dynamics and old economy, who is embracing whom, Copenhagen
    • Cantwell, J. and G. Santangelo (2001), 'The boundaries of firms in the new economy: The impact of M&A on corporate technological profiles,' DRUID Summer Conference on 'Industrial dynamics and old economy - who is embracing whom?,' Copenhagen.
    • (2001) DRUID Summer Conference
    • Cantwell, J.1    Santangelo, G.2
  • 21
  • 23
    • 0000111782 scopus 로고    scopus 로고
    • Resource redeployment following horizontal mergers and acquisitions in Europe and North America, 1988-1992
    • Capron, L., P. Dussauge and W. Mitchell (1998), 'Resource redeployment following horizontal mergers and acquisitions in Europe and North America, 1988-1992,' Strategic Management Journal, 19, 631-661.
    • (1998) Strategic Management Journal , vol.19 , pp. 631-661
    • Capron, L.1    Dussauge, P.2    Mitchell, W.3
  • 24
    • 17044414940 scopus 로고    scopus 로고
    • The impact of M&A on the R&D process. An empirical analysis of the role of technological and market relatedness
    • Cassiman, B., M. Colombo, P. Garrone and R. Veugelers (2005), 'The impact of M&A on the R&D process. An empirical analysis of the role of technological and market relatedness,' Research Policy, 34, 195-220.
    • (2005) Research Policy , vol.34 , pp. 195-220
    • Cassiman, B.1    Colombo, M.2    Garrone, P.3    Veugelers, R.4
  • 25
    • 0001836466 scopus 로고
    • Entry of foreign multinationals into US manufacturing industries
    • M. Porter ed, MA: Harvard Business School Press: Boston
    • Caves, R. E. and Mehra (1986), 'Entry of foreign multinationals into US manufacturing industries,' in M. Porter (ed.), Competition in Global Industries, 449-481. MA: Harvard Business School Press: Boston.
    • (1986) Competition in Global Industries , pp. 449-481
    • Caves, R.E.1    Mehra2
  • 26
    • 85043040701 scopus 로고    scopus 로고
    • Cefis, E., S. Rosenkranz and U. Weitzel (2005), 'Effects of acquisitions on product and process innovation and R&D performance,' Discussion Paper Series 05-28, Tjalling C. Koopmans Research Institute, Utrecht University.
    • Cefis, E., S. Rosenkranz and U. Weitzel (2005), 'Effects of acquisitions on product and process innovation and R&D performance,' Discussion Paper Series 05-28, Tjalling C. Koopmans Research Institute, Utrecht University.
  • 27
    • 0002555162 scopus 로고    scopus 로고
    • Accessing external sources of technology
    • Chaterji, D. (1996), 'Accessing external sources of technology,' Research-Technology Management, 39, 48-56.
    • (1996) Research-Technology Management , vol.39 , pp. 48-56
    • Chaterji, D.1
  • 28
    • 33744500277 scopus 로고    scopus 로고
    • Mergers and acquisitions: Their effect on the innovative performance of companies in high-tech industries
    • Cloodt, M., J. Hagedoorn and H. Van Kranenburg (2006), 'Mergers and acquisitions: Their effect on the innovative performance of companies in high-tech industries,' Research Policy, 35, 642-654.
    • (2006) Research Policy , vol.35 , pp. 642-654
    • Cloodt, M.1    Hagedoorn, J.2    Van Kranenburg, H.3
  • 29
    • 70350100712 scopus 로고
    • Empirical studies of innovation and market structure
    • R. Schmalensee and R. Willing eds, Amsterdam: North Holland
    • Cohen, W. and R. Levin (1989), 'Empirical studies of innovation and market structure,' in R. Schmalensee and R. Willing (eds), Handbook of Industrial Organisation, 1059-1109. Amsterdam: North Holland.
    • (1989) Handbook of Industrial Organisation , pp. 1059-1109
    • Cohen, W.1    Levin, R.2
  • 31
    • 0034165171 scopus 로고    scopus 로고
    • The eclectic paradigm as an envelope for economic and business theories of MNE activity
    • Dunning, J. H. (2000), 'The eclectic paradigm as an envelope for economic and business theories of MNE activity,' International Business Review, 9, 163-190.
    • (2000) International Business Review , vol.9 , pp. 163-190
    • Dunning, J.H.1
  • 32
    • 84867953999 scopus 로고    scopus 로고
    • Sectoral patterns of small firm innovation, networking and proximity
    • Freel, M. S. (2003), 'Sectoral patterns of small firm innovation, networking and proximity,' Research Policy, 32, 751-770.
    • (2003) Research Policy , vol.32 , pp. 751-770
    • Freel, M.S.1
  • 33
    • 84982733862 scopus 로고
    • External technology acquisitions in large multi-technology corporations
    • Granstrand, O., E. Bohlin, C. Oskarsson and N. Sjoberg (1992), 'External technology acquisitions in large multi-technology corporations,' R & D Management, 22, 111-133.
    • (1992) R & D Management , vol.22 , pp. 111-133
    • Granstrand, O.1    Bohlin, E.2    Oskarsson, C.3    Sjoberg, N.4
  • 34
    • 0030505108 scopus 로고    scopus 로고
    • Prospering in dynamically-competitive environments: Organizational capability as knowledge integration
    • Grant, R. M. (1996), 'Prospering in dynamically-competitive environments: Organizational capability as knowledge integration,' Organization Science, 7, 375-387.
    • (1996) Organization Science , vol.7 , pp. 375-387
    • Grant, R.M.1
  • 35
    • 85043067209 scopus 로고    scopus 로고
    • The effects of mergers and acquisitions on the technological performance of companies in high tech environment
    • University of Maastricht
    • Hagedoorn, J. and G. Duysters (2000), 'The effects of mergers and acquisitions on the technological performance of companies in high tech environment,' Mimeo University of Maastricht.
    • (2000) Mimeo
    • Hagedoorn, J.1    Duysters, G.2
  • 37
    • 85043032550 scopus 로고    scopus 로고
    • Hall, B. (1999), 'Mergers and R&D revisited,' Mimeo. NBER Conference on Mergers an Productivity.
    • Hall, B. (1999), 'Mergers and R&D revisited,' Mimeo. NBER Conference on Mergers an Productivity.
  • 39
    • 0000479671 scopus 로고    scopus 로고
    • How effective are fiscal incentives for R&D? A review of the evidence
    • Hall, B. and J. Van Reenen (2000), 'How effective are fiscal incentives for R&D? A review of the evidence,' Research Policy, 29 (4/5), 449-469.
    • (2000) Research Policy , vol.29 , Issue.4-5 , pp. 449-469
    • Hall, B.1    Van Reenen, J.2
  • 40
    • 84885640306 scopus 로고    scopus 로고
    • Acquisitions versus greenfield investment: Both sides of the picture
    • University of Bradford
    • Harzing, A. (1999), 'Acquisitions versus greenfield investment: Both sides of the picture,' Mimeo. University of Bradford.
    • (1999) Mimeo
    • Harzing, A.1
  • 42
    • 84869431550 scopus 로고
    • Underinvestment and incompetence as responses to radical innovation: Evidence from the photolithographic alignment equipment industry
    • Henderson, R. (1993), 'Underinvestment and incompetence as responses to radical innovation: Evidence from the photolithographic alignment equipment industry,' RAND Journal of Economics, 24, 248-270.
    • (1993) RAND Journal of Economics , vol.24 , pp. 248-270
    • Henderson, R.1
  • 43
    • 0030093218 scopus 로고    scopus 로고
    • Scale, scope, and spillovers: The determinants of research productivity in drug discovery
    • Henderson, R. and I. Cockburn (1996), 'Scale, scope, and spillovers: The determinants of research productivity in drug discovery,' RAND Journal of Economics, 27, 32-59.
    • (1996) RAND Journal of Economics , vol.27 , pp. 32-59
    • Henderson, R.1    Cockburn, I.2
  • 44
    • 0001117518 scopus 로고
    • Greenfield vs. acquisitions: The strategy of Japanese investors in the United States
    • Hennart, J. F. and Y. R. Park (1993), 'Greenfield vs. acquisitions: The strategy of Japanese investors in the United States,' Management Science, 39, 1054-1070.
    • (1993) Management Science , vol.39 , pp. 1054-1070
    • Hennart, J.F.1    Park, Y.R.2
  • 47
    • 84960609570 scopus 로고
    • Geographic localization of knowledge spillovers as evidenced by patent citations
    • Jaffe, A. B., M. Trajtenberg and R. Henderson (1993), 'Geographic localization of knowledge spillovers as evidenced by patent citations,' Quarterly Journal of Economics, 108, 577-598.
    • (1993) Quarterly Journal of Economics , vol.108 , pp. 577-598
    • Jaffe, A.B.1    Trajtenberg, M.2    Henderson, R.3
  • 48
    • 0000769647 scopus 로고    scopus 로고
    • Integrating technology into merger and acquisition decision making
    • James, A. D., L. Georghiou and J. S. Metcalfe (1998), 'Integrating technology into merger and acquisition decision making,' Technovation 18, 563-573.
    • (1998) Technovation , vol.18 , pp. 563-573
    • James, A.D.1    Georghiou, L.2    Metcalfe, J.S.3
  • 49
    • 34447504242 scopus 로고
    • The market for corporate control: The scientific evidence
    • Jensen, M. and R. Ruback (1983), 'The market for corporate control: The scientific evidence,' Journal of Financial Economics, 11, 5-50.
    • (1983) Journal of Financial Economics , vol.11 , pp. 5-50
    • Jensen, M.1    Ruback, R.2
  • 51
    • 84986761880 scopus 로고
    • The effect of national culture on the choice of entry mode
    • Kogut, B. and H. Singh (1988), 'The effect of national culture on the choice of entry mode,' Journal of International Business Studies, 19, 411-432.
    • (1988) Journal of International Business Studies , vol.19 , pp. 411-432
    • Kogut, B.1    Singh, H.2
  • 52
    • 77954516553 scopus 로고
    • Knowledge of the firm, combinative capabilities and the replication of technology
    • Kogut, B. and U. Zander (1992), 'Knowledge of the firm, combinative capabilities and the replication of technology,' Organization Sciences, 3, 383-397.
    • (1992) Organization Sciences , vol.3 , pp. 383-397
    • Kogut, B.1    Zander, U.2
  • 53
    • 85043029065 scopus 로고    scopus 로고
    • Unlocking shareholder value: The key to success. Mergers and acquisitions, a global research report
    • KPMG Peat Marwick (1999), 'Unlocking shareholder value: The key to success. Mergers and acquisitions, a global research report,' KPMG Report.
    • (1999) KPMG Report
    • Peat Marwick, K.P.M.G.1
  • 55
    • 0002895743 scopus 로고
    • Acquisitions as sources of technological innovation
    • Link, A. (1988), 'Acquisitions as sources of technological innovation,' Mergers & Acquisitions, 23, 36-39.
    • (1988) Mergers & Acquisitions , vol.23 , pp. 36-39
    • Link, A.1
  • 57
    • 84948079163 scopus 로고
    • Fusiones y adquisiciones en la economía española durante el periodo 1986-1991
    • Martínez, J., S. Gil, A. Picazo, M. Rochina and J. Sanchis (1995), 'Fusiones y adquisiciones en la economía española durante el periodo 1986-1991,' Economía Industrial, 306, 95-115.
    • (1995) Economía Industrial , vol.306 , pp. 95-115
    • Martínez, J.1    Gil, S.2    Picazo, A.3    Rochina, M.4    Sanchis, J.5
  • 58
    • 85019528623 scopus 로고    scopus 로고
    • Adquisiciones internacionales y control en las empresas industriales españolas
    • Martínez, A. and F. Tejerina (1999), 'Adquisiciones internacionales y control en las empresas industriales españolas,' Información Comercial Española, 781, 129-142.
    • (1999) Información Comercial Española , vol.781 , pp. 129-142
    • Martínez, A.1    Tejerina, F.2
  • 59
  • 61
    • 0040629762 scopus 로고    scopus 로고
    • Decision specific experience in foreign ownership and establishment strategies: Evidence from Japanese firms
    • Padmanabhan, P. and K. R. Cho (1999), 'Decision specific experience in foreign ownership and establishment strategies: Evidence from Japanese firms,' Journal of International Business Studies, 30, 25-41.
    • (1999) Journal of International Business Studies , vol.30 , pp. 25-41
    • Padmanabhan, P.1    Cho, K.R.2
  • 62
    • 3042994087 scopus 로고    scopus 로고
    • Technological innovation and multinational expansion: A two way link?
    • Petit, L. M. and F. Sanna-Randaccio (1998), 'Technological innovation and multinational expansion: A two way link?,' Journal of Economics 68, 1-26.
    • (1998) Journal of Economics , vol.68 , pp. 1-26
    • Petit, L.M.1    Sanna-Randaccio, F.2
  • 64
    • 6944234794 scopus 로고    scopus 로고
    • Corporate diversification, coherence and economic performance
    • Piscitello, L. (2004), 'Corporate diversification, coherence and economic performance,' Industrial and Corporate Change, 13, 757-787.
    • (2004) Industrial and Corporate Change , vol.13 , pp. 757-787
    • Piscitello, L.1
  • 65
    • 13944269595 scopus 로고    scopus 로고
    • The impact of inward FDI on local companies labour productivity: Evidence from the Italian case,' International
    • Piscitello, L. and L. Rabbiosi (2005), 'The impact of inward FDI on local companies labour productivity: Evidence from the Italian case,' International Journal of the Economics of Business, 12, 35-51.
    • (2005) Journal of the Economics of Business , vol.12 , pp. 35-51
    • Piscitello, L.1    Rabbiosi, L.2
  • 68
    • 14944348485 scopus 로고    scopus 로고
    • Technology sourcing through acquisitions: Evidence from the US drug industry
    • Ruckman, K. (2005), 'Technology sourcing through acquisitions: Evidence from the US drug industry,' Journal of International Business Studies 36, 89-103.
    • (2005) Journal of International Business Studies , vol.36 , pp. 89-103
    • Ruckman, K.1
  • 69
    • 33847270153 scopus 로고    scopus 로고
    • Multinational knowledge spillovers with decentralised R&D: A game theory approach
    • Sanna-Randaccio, F. and Veugelers (2007), 'Multinational knowledge spillovers with decentralised R&D: A game theory approach,' Journal of International Business Studies, 38, 47-63.
    • (2007) Journal of International Business Studies , vol.38 , pp. 47-63
    • Sanna-Randaccio, F.1    Veugelers2
  • 71
    • 84989035983 scopus 로고
    • Value creation in acquisitions: A re-examination of performance issues
    • Seth, A. (1990), 'Value creation in acquisitions: A re-examination of performance issues,' Strategic Management Journal, 11, 99-115.
    • (1990) Strategic Management Journal , vol.11 , pp. 99-115
    • Seth, A.1
  • 72
    • 4344579713 scopus 로고    scopus 로고
    • Theoretical foundations of cross-border mergers and acquisitions: A review of current research and recommendations for the future
    • Shimizu, K., M. A. Hitt, D. Vaidyanath and V. Pisano (2004), 'Theoretical foundations of cross-border mergers and acquisitions: A review of current research and recommendations for the future,' Journal of International Management, 10, 307-353.
    • (2004) Journal of International Management , vol.10 , pp. 307-353
    • Shimizu, K.1    Hitt, M.A.2    Vaidyanath, D.3    Pisano, V.4
  • 74
    • 16244415128 scopus 로고    scopus 로고
    • Innovation in 'low tech' industries
    • J. Fagerberg, D. Morewy and R. Nelson eds, Oxford University Press: Oxford
    • Von Tunzelmann, G. N. and V. Acha (2004), 'Innovation in 'low tech' industries,' in J. Fagerberg, D. Morewy and R. Nelson (eds), Oxford Handbook of Innovation, 407-432. Oxford University Press: Oxford.
    • (2004) Oxford Handbook of Innovation , pp. 407-432
    • Von Tunzelmann, G.N.1    Acha, V.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.