메뉴 건너뛰기




Volumn 39, Issue 8, 2010, Pages 1105-1121

Do high technology acquirers become more innovative?

Author keywords

Acquisitions; Innovation; Propensity score

Indexed keywords

CORE RIGIDITIES; ENDOGENEITY; FINANCIAL CAPACITY; FINANCIAL CONSTRAINTS; HIGH TECHNOLOGY; INTENSITY CHANGE; KNOWLEDGE BASE; PERIPHERAL VISION; PRODUCTIVITY CHANGES; PRODUCTIVITY GAIN; PROPENSITY SCORE; SPECIFIC EFFECTS;

EID: 77955414963     PISSN: 00487333     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.respol.2010.05.005     Document Type: Article
Times cited : (103)

References (87)
  • 1
    • 0000614726 scopus 로고    scopus 로고
    • Technological acquisitions and the innovation performance of acquiring firms: A longitudinal study
    • G. Ahuja, and R. Katila Technological acquisitions and the innovation performance of acquiring firms: a longitudinal study Strategic Management Journal 22 3 2001 197 220
    • (2001) Strategic Management Journal , vol.22 , Issue.3 , pp. 197-220
    • Ahuja, G.1    Katila, R.2
  • 4
    • 84896930624 scopus 로고
    • Firm resources and sustained competitive advantage
    • J.B. Barney Firm resources and sustained competitive advantage Journal of Management 17 1 1991 99 120
    • (1991) Journal of Management , vol.17 , Issue.1 , pp. 99-120
    • Barney, J.B.1
  • 6
    • 84989061243 scopus 로고
    • The dominant logic: Retrospective and extension
    • R.A. Bettis, and C.K. Prahalad The dominant logic: retrospective and extension Strategic Management Journal 16 1 1995 5 14
    • (1995) Strategic Management Journal , vol.16 , Issue.1 , pp. 5-14
    • Bettis, R.A.1    Prahalad, C.K.2
  • 11
    • 0000784093 scopus 로고    scopus 로고
    • Bilateral resource redeployment and capabilities improvement following horizontal acquisitions
    • L. Capron, and W. Mitchell Bilateral resource redeployment and capabilities improvement following horizontal acquisitions Industrial and Corporate Change 7 3 1998 453 484
    • (1998) Industrial and Corporate Change , vol.7 , Issue.3 , pp. 453-484
    • Capron, L.1    Mitchell, W.2
  • 12
    • 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
    • B. Cassiman, M. Colombo, P. Garonne, and R. Veugelers The impact of M&A on the R&D process. An empirical analysis of the role of technological and market relatedness Research Policy 34 2 2005 455 476
    • (2005) Research Policy , vol.34 , Issue.2 , pp. 455-476
    • Cassiman, B.1    Colombo, M.2    Garonne, P.3    Veugelers, R.4
  • 14
    • 84971179330 scopus 로고
    • The competitive performance of US industrial enterprises since the Second World War
    • A.D.J. Chandler The competitive performance of US industrial enterprises since the Second World War Business History Review 68 1994 1 72
    • (1994) Business History Review , vol.68 , pp. 1-72
    • Chandler, A.D.J.1
  • 15
    • 0033192963 scopus 로고    scopus 로고
    • Capturing the real value in high-tech acquisitions
    • S. Chaudhuri, and B. Tabrizi Capturing the real value in high-tech acquisitions Harvard Business Review 77 5 1999 123 130
    • (1999) Harvard Business Review , vol.77 , Issue.5 , pp. 123-130
    • Chaudhuri, S.1    Tabrizi, B.2
  • 16
    • 33744500277 scopus 로고    scopus 로고
    • Mergers and acquisitions: Their effect on the innovative performance of companies in high-tech industries
    • M. Cloodt, J. Hagedoorn, and H. Van Kranenburg Mergers and acquisitions: their effect on the innovative performance of companies in high-tech industries Research Policy 35 5 2006 642 654
    • (2006) Research Policy , vol.35 , Issue.5 , pp. 642-654
    • Cloodt, M.1    Hagedoorn, J.2    Van Kranenburg, H.3
  • 18
    • 0000041791 scopus 로고
    • Innovation and learning: The two faces of R&D
    • W.M. Cohen, and D.A. Levinthal Innovation and learning: the two faces of R&D The Economic Journal 99 397 1989 569 596
    • (1989) The Economic Journal , vol.99 , Issue.397 , pp. 569-596
    • Cohen, W.M.1    Levinthal, D.A.2
  • 19
    • 84936166194 scopus 로고
    • Absorptive capacity: A new perspective on learning and innovation
    • W.M. Cohen, and D.A. Levinthal Absorptive capacity: a new perspective on learning and innovation Administrative Science Quarterly 35 1 1990 128 152
    • (1990) Administrative Science Quarterly , vol.35 , Issue.1 , pp. 128-152
    • Cohen, W.M.1    Levinthal, D.A.2
  • 21
    • 27844490633 scopus 로고    scopus 로고
    • The impact on UK acquirers of domestic, cross-border, public and private acquisitions
    • A.D. Cosh, P.M. Guest, and A. Hughes The impact on UK acquirers of domestic, cross-border, public and private acquisitions Journal of Business Finance and Accounting 32 5-6 2005 815 870
    • (2005) Journal of Business Finance and Accounting , vol.32 , Issue.5-6 , pp. 815-870
    • Cosh, A.D.1    Guest, P.M.2    Hughes, A.3
  • 22
    • 34548359292 scopus 로고    scopus 로고
    • Mergers and acquisitions in the pharmaceutical and biotech industries
    • P.M. Danzon, A. Epstein, and S. Nicholson Mergers and acquisitions in the pharmaceutical and biotech industries Managerial and Decision Economics 28 4-5 2007 307 328
    • (2007) Managerial and Decision Economics , vol.28 , Issue.4-5 , pp. 307-328
    • Danzon, P.M.1    Epstein, A.2    Nicholson, S.3
  • 24
    • 43049168292 scopus 로고    scopus 로고
    • Sourcing technological knowledge through corporate acquisition: Evidence from an international sample of high technology firms
    • P. Desyllas, and A. Hughes Sourcing technological knowledge through corporate acquisition: evidence from an international sample of high technology firms The Journal of High Technology Management Research 18 2 2008 157 172
    • (2008) The Journal of High Technology Management Research , vol.18 , Issue.2 , pp. 157-172
    • Desyllas, P.1    Hughes, A.2
  • 25
    • 70449350580 scopus 로고    scopus 로고
    • The revealed preferences of high technology acquirers: An analysis of the innovation characteristics of their targets
    • P. Desyllas, and A. Hughes The revealed preferences of high technology acquirers: an analysis of the innovation characteristics of their targets Cambridge Journal of Economics 33 6 2009 1089 1111
    • (2009) Cambridge Journal of Economics , vol.33 , Issue.6 , pp. 1089-1111
    • Desyllas, P.1    Hughes, A.2
  • 26
    • 0000857363 scopus 로고
    • Asset stock accumulation and sustainability of competitive advantage
    • I. Dierickx, and K. Cool Asset stock accumulation and sustainability of competitive advantage Management Science 35 1 1989 1504 1511
    • (1989) Management Science , vol.35 , Issue.1 , pp. 1504-1511
    • Dierickx, I.1    Cool, K.2
  • 27
    • 25144445729 scopus 로고    scopus 로고
    • When do firms undertake R&D by investing in new ventures?
    • G. Dushnitsky, and M.J. Lenox When do firms undertake R&D by investing in new ventures? Strategic Management Journal 26 10 2005 947 965
    • (2005) Strategic Management Journal , vol.26 , Issue.10 , pp. 947-965
    • Dushnitsky, G.1    Lenox, M.J.2
  • 28
    • 6244254029 scopus 로고    scopus 로고
    • The influence of corporate acquisitions on the behaviour of key inventors
    • H. Ernst, and J. Vitt The influence of corporate acquisitions on the behaviour of key inventors R&D Management 30 2 2000 105 119
    • (2000) R&D Management , vol.30 , Issue.2 , pp. 105-119
    • Ernst, H.1    Vitt, J.2
  • 29
    • 0002343433 scopus 로고
    • The causes and consequences of leveraged management buyouts
    • I. Fox, and A. Marcus The causes and consequences of leveraged management buyouts Academy of Management Review 17 1 1992 62 85
    • (1992) Academy of Management Review , vol.17 , Issue.1 , pp. 62-85
    • Fox, I.1    Marcus, A.2
  • 30
    • 21344481696 scopus 로고
    • Marketing in turbulent environments: Decision processes and the time-sensitivity of information
    • R. Glazer, and A.M. Weiss Marketing in turbulent environments: decision processes and the time-sensitivity of information Journal of Marketing Research 30 4 1993 509 521
    • (1993) Journal of Marketing Research , vol.30 , Issue.4 , pp. 509-521
    • Glazer, R.1    Weiss, A.M.2
  • 31
    • 0000372860 scopus 로고
    • Patent statistics as economic indicators: A survey
    • Z. Griliches Patent statistics as economic indicators: a survey Journal of Economic Literature 28 4 1990 1661 1707
    • (1990) Journal of Economic Literature , vol.28 , Issue.4 , pp. 1661-1707
    • Griliches, Z.1
  • 32
    • 0042632439 scopus 로고    scopus 로고
    • Measuring innovative performance: Is there an advantage in using multiple indicators?
    • J. Hagedoorn, and M. Cloodt Measuring innovative performance: is there an advantage in using multiple indicators? Research Policy 32 8 2003 1365 1379
    • (2003) Research Policy , vol.32 , Issue.8 , pp. 1365-1379
    • Hagedoorn, J.1    Cloodt, M.2
  • 33
    • 0036194831 scopus 로고    scopus 로고
    • The effect of mergers and acquisitions on the technological performance of companies in a high-tech environment
    • J. Hagedoorn, and G. Duysters The effect of mergers and acquisitions on the technological performance of companies in a high-tech environment Technology Analysis Strategic Management 14 1 2002 67 85
    • (2002) Technology Analysis Strategic Management , vol.14 , Issue.1 , pp. 67-85
    • Hagedoorn, J.1    Duysters, G.2
  • 34
    • 0002775056 scopus 로고
    • The effect of takeover activity on corporate research and development
    • B.H. Hall The effect of takeover activity on corporate research and development A.J. Auerbach, Corporate Takeovers: Causes and Consequences 1988 University of Chicago Press Chicago
    • (1988) Corporate Takeovers: Causes and Consequences
    • Hall, B.H.1
  • 37
    • 84971166804 scopus 로고
    • Corporate restructuring and investment horizons in the United States, 1976-1987
    • B.H. Hall Corporate restructuring and investment horizons in the United States, 1976-1987 Business History Review 68 1 1994 110 143
    • (1994) Business History Review , vol.68 , Issue.1 , pp. 110-143
    • Hall, B.H.1
  • 39
    • 0009904681 scopus 로고    scopus 로고
    • The NBER patent citations data file: Lessons, insights and methodological tools
    • Hall, B.H., Jaffe, A., Trajtenberg, M., 2001. The NBER patent citations data file: lessons, insights and methodological tools. NBER Working Paper W8498.
    • (2001) NBER Working Paper W8498.
    • Hall, B.H.1    Jaffe, A.2    Trajtenberg, M.3
  • 41
    • 21144460071 scopus 로고
    • Relative standing: A framework for understanding departures of acquired executives
    • D. Hambrick, and A. Cannella Relative standing: a framework for understanding departures of acquired executives Academy of Management Journal 36 4 1993 733 762
    • (1993) Academy of Management Journal , vol.36 , Issue.4 , pp. 733-762
    • Hambrick, D.1    Cannella, A.2
  • 44
    • 0346856929 scopus 로고    scopus 로고
    • Characterizing selection bias using experimental data
    • J. Heckman, H. Ichimura, J. Smith, and P. Todd Characterizing selection bias using experimental data Econometrica 66 5 1998 1017 1098
    • (1998) Econometrica , vol.66 , Issue.5 , pp. 1017-1098
    • Heckman, J.1    Ichimura, H.2    Smith, J.3    Todd, P.4
  • 45
    • 0001622038 scopus 로고    scopus 로고
    • Matching as an econometric evaluation estimator: Evidence from evaluating a job training programme
    • J. Heckman, H. Ichimura, and P. Todd Matching as an econometric evaluation estimator: evidence from evaluating a job training programme Review of Economic Studies 64 4 1997 605 654
    • (1997) Review of Economic Studies , vol.64 , Issue.4 , pp. 605-654
    • Heckman, J.1    Ichimura, H.2    Todd, P.3
  • 46
    • 0030093218 scopus 로고    scopus 로고
    • Scale, scope and spillovers: The determinants of research productivity in drug discovery
    • R. Henderson, and I. Cockburn Scale, scope and spillovers: the determinants of research productivity in drug discovery Rand Journal of Economics 27 1 1996 32 59
    • (1996) Rand Journal of Economics , vol.27 , Issue.1 , pp. 32-59
    • Henderson, R.1    Cockburn, I.2
  • 47
    • 0028560578 scopus 로고
    • R&D and internal finance: A panel study of small firms in high-tech industries
    • C.P. Himmelberg, and B.C. Petersen R&D and internal finance: a panel study of small firms in high-tech industries Review of Economics and Statistics 76 1 1994 38 51
    • (1994) Review of Economics and Statistics , vol.76 , Issue.1 , pp. 38-51
    • Himmelberg, C.P.1    Petersen, B.C.2
  • 48
    • 0141495120 scopus 로고    scopus 로고
    • Efficient estimation of average treatment effects using the estimated propensity score
    • K. Hirano, G.W. Imbens, and G. Ridder Efficient estimation of average treatment effects using the estimated propensity score Econometrica 71 4 2003 1161 1189
    • (2003) Econometrica , vol.71 , Issue.4 , pp. 1161-1189
    • Hirano, K.1    Imbens, G.W.2    Ridder, G.3
  • 49
  • 53
  • 54
    • 0002719266 scopus 로고
    • The takeover controversy: Analysis and evidence
    • M.C. Jensen The takeover controversy: analysis and evidence Midland Corporate Finance Journal 4 2 1986 6 32
    • (1986) Midland Corporate Finance Journal , vol.4 , Issue.2 , pp. 6-32
    • Jensen, M.C.1
  • 55
    • 44649197264 scopus 로고
    • Theory of the firm: Managerial behavior, agency costs and ownership structure
    • M.C. Jensen, and W.H. Meckling Theory of the firm: managerial behavior, agency costs and ownership structure Journal of Financial Economics 3 4 1976 305 360
    • (1976) Journal of Financial Economics , vol.3 , Issue.4 , pp. 305-360
    • Jensen, M.C.1    Meckling, W.H.2
  • 56
    • 36749068416 scopus 로고    scopus 로고
    • The impact of acquisitions on the innovation performance of inventors at semiconductor companies
    • R Kapoor, and K. Lim The impact of acquisitions on the innovation performance of inventors at semiconductor companies Academy of Management Journal 50 5 2005 1133 1155
    • (2005) Academy of Management Journal , vol.50 , Issue.5 , pp. 1133-1155
    • Kapoor, R.1    Lim, K.2
  • 58
    • 0742285882 scopus 로고    scopus 로고
    • Meta-analyses of post-acquisition performance: Indicators of unidentified moderators
    • D.R. King, D.R. Dalton, C.M. Daily, and J.G. Covin Meta-analyses of post-acquisition performance: indicators of unidentified moderators Strategic Management Journal 25 2 2004 187 200
    • (2004) Strategic Management Journal , vol.25 , Issue.2 , pp. 187-200
    • King, D.R.1    Dalton, D.R.2    Daily, C.M.3    Covin, J.G.4
  • 60
    • 0030509373 scopus 로고    scopus 로고
    • Economic "short-termism": The debate, the unresolved issues, and the implications for management practice and research
    • K.J. Laverty Economic "Short-termism": the debate, the unresolved issues, and the implications for management practice and research Academy of Management Review 21 3 1996 825 860
    • (1996) Academy of Management Review , vol.21 , Issue.3 , pp. 825-860
    • Laverty, K.J.1
  • 61
    • 84938687906 scopus 로고
    • Core capabilities and core rigidities: A paradox in managing new product development
    • D. Leonard-Barton Core capabilities and core rigidities: a paradox in managing new product development Strategic Management Journal 13 Summer special issue 1992 111 125
    • (1992) Strategic Management Journal , vol.13 , Issue.SUMMER SPECIAL ISSUE , pp. 111-125
    • Leonard-Barton, D.1
  • 62
    • 0000359490 scopus 로고    scopus 로고
    • Toward a synthesis of the resource-based and dynamic-capability views of rent creation
    • R. Makadok Toward a synthesis of the resource-based and dynamic-capability views of rent creation Strategic Management Journal 22 5 2001 387 401
    • (2001) Strategic Management Journal , vol.22 , Issue.5 , pp. 387-401
    • Makadok, R.1
  • 63
    • 40549086645 scopus 로고    scopus 로고
    • Exploring the debate on short-termism: A theoretical and empirical analysis
    • D. Marginson, and L. McAulay Exploring the debate on short-termism: a theoretical and empirical analysis Strategic Management Journal 29 3 2008 273 292
    • (2008) Strategic Management Journal , vol.29 , Issue.3 , pp. 273-292
    • Marginson, D.1    McAulay, L.2
  • 64
    • 0032903443 scopus 로고    scopus 로고
    • Localised learning and industrial competitiveness
    • P. Maskell, and A. Malmberg Localised learning and industrial competitiveness Cambridge Journal of Economics 23 2 1999 167 185
    • (1999) Cambridge Journal of Economics , vol.23 , Issue.2 , pp. 167-185
    • Maskell, P.1    Malmberg, A.2
  • 67
    • 48549110620 scopus 로고
    • Corporate financing and investment decisions when firms have information that investors do not have
    • S.C. Myers, and N.S. Maljuf Corporate financing and investment decisions when firms have information that investors do not have Journal of Financial Economics 13 2 1984 187 221
    • (1984) Journal of Financial Economics , vol.13 , Issue.2 , pp. 187-221
    • Myers, S.C.1    Maljuf, N.S.2
  • 68
    • 45949115057 scopus 로고
    • Patents as indicators of corporate technological strength
    • F. Narin, E. Noma, and R. Perry Patents as indicators of corporate technological strength Research Policy 16 2-4 1987 143 155
    • (1987) Research Policy , vol.16 , Issue.2-4 , pp. 143-155
    • Narin, F.1    Noma, E.2    Perry, R.3
  • 71
    • 13244284692 scopus 로고    scopus 로고
    • The impact of acquisitions on innovation: Poison pill, placebo, or tonic?
    • J.C. Prabhu, R.K. Chandy, and M. Ellis The impact of acquisitions on innovation: poison pill, placebo, or tonic? Journal of Marketing 69 1 2005 114 130
    • (2005) Journal of Marketing , vol.69 , Issue.1 , pp. 114-130
    • Prabhu, J.C.1    Chandy, R.K.2    Ellis, M.3
  • 72
    • 84989026753 scopus 로고
    • The dominant logic: A new linkage between diversity and performance
    • C.K. Prahalad, and R.A. Bettis The dominant logic: a new linkage between diversity and performance Strategic Management Journal 7 6 1986 485 501
    • (1986) Strategic Management Journal , vol.7 , Issue.6 , pp. 485-501
    • Prahalad, C.K.1    Bettis, R.A.2
  • 73
    • 33646541974 scopus 로고    scopus 로고
    • Organizing for innovation: Managing the coordination-autonomy dilemma in technology acquisitions
    • P. Puranam, H. Singh, and M. Zollo Organizing for innovation: managing the coordination-autonomy dilemma in technology acquisitions Academy of Management Journal 49 2 2006 263 280
    • (2006) Academy of Management Journal , vol.49 , Issue.2 , pp. 263-280
    • Puranam, P.1    Singh, H.2    Zollo, M.3
  • 74
    • 0005542225 scopus 로고    scopus 로고
    • Acquiring new knowledge: The role of retaining human capital in acquisitions of high-tech firms
    • A.L. Ranft, and M.D. Lord Acquiring new knowledge: the role of retaining human capital in acquisitions of high-tech firms Journal of High Technology Management Research 11 2 2000 295 319
    • (2000) Journal of High Technology Management Research , vol.11 , Issue.2 , pp. 295-319
    • Ranft, A.L.1    Lord, M.D.2
  • 75
    • 0036637934 scopus 로고    scopus 로고
    • Acquiring new technologies and capabilities: A grounded model of acquisition implementation
    • A.L. Ranft, and M.D. Lord Acquiring new technologies and capabilities: a grounded model of acquisition implementation Organization Science 13 4 2002 420 441
    • (2002) Organization Science , vol.13 , Issue.4 , pp. 420-441
    • Ranft, A.L.1    Lord, M.D.2
  • 77
    • 77951622706 scopus 로고
    • The central role of the propensity score in observational studies for causal effects
    • P.R. Rosenbaum, and D.B. Rubin The central role of the propensity score in observational studies for causal effects Biometrika 70 1 1983 41 55
    • (1983) Biometrika , vol.70 , Issue.1 , pp. 41-55
    • Rosenbaum, P.R.1    Rubin, D.B.2
  • 78
    • 84949193513 scopus 로고
    • Reducing bias in observational studies using subclassification on the propensity score
    • P.R. Rosenbaum, and D.B. Rubin Reducing bias in observational studies using subclassification on the propensity score Journal of the American Statistical Association 79 387 1984 516 524
    • (1984) Journal of the American Statistical Association , vol.79 , Issue.387 , pp. 516-524
    • Rosenbaum, P.R.1    Rubin, D.B.2
  • 79
    • 84977346105 scopus 로고
    • Bankruptcy, secured debt, and optimal capital structure: A comment
    • C.L. Smith, and J.B. Warner Bankruptcy, secured debt, and optimal capital structure: a comment Journal of Finance 34 1 1979 247 251
    • (1979) Journal of Finance , vol.34 , Issue.1 , pp. 247-251
    • Smith, C.L.1    Warner, J.B.2
  • 80
    • 34247217543 scopus 로고    scopus 로고
    • Why some acquirers do better than others: Product capital as a driver of long-term stock returns
    • A.B. Sorescu, R.K. Chandy, and J.C. Prabhu Why some acquirers do better than others: product capital as a driver of long-term stock returns Journal of Marketing Research 44 1 2007 57 72
    • (2007) Journal of Marketing Research , vol.44 , Issue.1 , pp. 57-72
    • Sorescu, A.B.1    Chandy, R.K.2    Prabhu, J.C.3
  • 81
    • 38549086633 scopus 로고
    • Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy
    • D. Teece Profiting from technological innovation: implications for integration, collaboration, licensing and public policy Research Policy 15 6 1986 285 306
    • (1986) Research Policy , vol.15 , Issue.6 , pp. 285-306
    • Teece, D.1
  • 82
    • 33751164426 scopus 로고    scopus 로고
    • Reflections on "profiting from innovation"
    • D. Teece Reflections on "Profiting from innovation" Research Policy 35 8 2006 1131 1146
    • (2006) Research Policy , vol.35 , Issue.8 , pp. 1131-1146
    • Teece, D.1
  • 84
    • 77955419414 scopus 로고    scopus 로고
    • A practical guide to implementing matching estimators
    • Santiago
    • P. Todd A practical guide to implementing matching estimators Presentation at IADB Meeting Santiago 1999
    • (1999) Presentation at IADB Meeting
    • Todd, P.1
  • 86
    • 0036011963 scopus 로고    scopus 로고
    • Absorptive capacity: A review, reconceptualization, and extension
    • S.A. Zahra, and G. George Absorptive capacity: a review, reconceptualization, and extension Academy of Management Review 27 2 2002 185 203
    • (2002) Academy of Management Review , vol.27 , Issue.2 , pp. 185-203
    • Zahra, S.A.1    George, G.2
  • 87
    • 4043175926 scopus 로고    scopus 로고
    • Deliberate learning in corporate acquisitions: Post-acquisition strategies and integration capability in US bank mergers
    • M. Zollo, and H. Singh Deliberate learning in corporate acquisitions: post-acquisition strategies and integration capability in US bank mergers Strategic Management Journal 25 13 2004 1233 1256
    • (2004) Strategic Management Journal , vol.25 , Issue.13 , pp. 1233-1256
    • Zollo, M.1    Singh, H.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.