Forschung & Entwicklung und technologieorientierte Unternehmensakquisitionen

Torsten Gerpott ()

Metrika: International Journal for Theoretical and Applied Statistics, 2009, vol. 20, issue 1, 9-41

Abstract: Acquisitions and innovation through research & development (R&D) are growth strategies, which are likely to be closely intertwined. The present paper reviews 44 empirical investigations which have looked at R&D behaviors of buyer and target companies as drivers of the likelihood of technology-related acquisitions (TRA). Further, it analyzes empirical studies which have explored the impacts of such transactions on R&D spending or R&D/corporate innovation performance criteria. The review suggests a rejection of popular claims that a TRA is significantly triggered by a weak R&D position of the buyer and leads to lower R&D inputs and outputs of the transaction partners. These allegations do not sufficiently acknowledge the subtleties of the interrelations between R&D and a TRA. Rather, the evidence implies that management scholars and practitioners should scrutinize (1) R&D/technology absorptive capacities of the acquiring firm, (2) combination opportunities and substantive overlaps of the transaction parties’ R&D themes and (3) management interventions to transform acquisition-based R&D value creation potentials into real value after the formal deal closure. Copyright Springer-Verlag 2009

Keywords: Forschung & Entwicklung (F&E); F&E-Inputs und -Outputs; Innovationsleistung; Mergers & Acquisitions (M&A); Technologieorientierte Unternehmensakquisition; Innovation performance; Mergers & Acquisitions (M&A); Research & Development (R&D); R&D inputs and outputs; technology-related acquisition (TRA) (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s00187-009-0068-5

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