The Impacts of M&As on R&D investments

Eero Lehto

No 232, Working Papers from Työn ja talouden tutkimus LABORE, The Labour Institute for Economic Research LABORE

Abstract: This study considers the impact of M&As on a firm’s R&D investments. We have analysed the impacts of the incidences in which a firm becomes a target and, on the other hand, an acquirer. M&As are classified in our study as being either domestic or cross-border. In addition, domestic M&As are classified – if needed – according to geographical and technological proximity. The results obtained show that M&As tend to increase acquirers’ R&D investments, and decrease targets’ R&D investments or keep them unchanged. The clearest positive effect is related to the incidence in which a Finnish firm buys a foreign firm. On the other hand, when a foreign firm buys a Finnish firm, the impact is zero.

Keywords: M&As; R&D investments (search for similar items in EconPapers)
JEL-codes: G34 O32 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2007-09-01
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Persistent link: https://EconPapers.repec.org/RePEc:pst:wpaper:232

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