EconPapers    
Economics at your fingertips  
 

Discovering business diversification opportunities using patent information and open innovation cases

Changbae Mun, Yongmin Kim, Donghyun Yoo, Sejun Yoon, Heesu Hyun, Nagarajan Raghavan and Hyunseok Park

Technological Forecasting and Social Change, 2019, vol. 139, issue C, 144-154

Abstract: This paper proposes a method to identify business diversification opportunities for a company. In particular, the method uses M&A cases related to business diversifications to identify atypical diversification opportunities. The underlying idea of the method is that industrial sectors of companies acquired by acquiring companies having similar characteristics with the focal company can be business diversification directions for the company. Industrial sectors of companies are identified by using IPC(International Patent Classification)-ISIC(International Standard Industrial Classification) concordance, and we updated the previous concordance to reflect the recent technological and business environments. For verification of the method, we used a successful M&A case related to business diversification and tested that the method can identify same industrial sector with the case as top priority. The results show that the method identified the same industrial sector as top ranking and other uncommon industrial sectors as recommended opportunities.

Keywords: New business opportunity; Company-industry network; Updated IPC-ISIC concordance; M&A data (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0040162518307650
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:139:y:2019:i:c:p:144-154

Access Statistics for this article

Technological Forecasting and Social Change is currently edited by Fred Phillips

More articles in Technological Forecasting and Social Change from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2019-01-19
Handle: RePEc:eee:tefoso:v:139:y:2019:i:c:p:144-154