Mergers & Acquisitions and Innovation Performance in the Telecommunications Equipment Industry
Tseveen Gantumur and
Andreas Stephan ()
No 728, Discussion Papers of DIW Berlin from DIW Berlin, German Institute for Economic Research
The telecommunications in the 1990s witnessed an enormous worldwide round of Mergers & Acquisitions (M&A). This paper examines the innovation determinants of M&A activity and the consequences of M&A transactions on the technological potential and the innovation performance. We examine the telecommunications equipment industry over the period 1988-2002 using a newly constructed data set with firm-level data describing M&A and innovation activity as well as financial characteristics. Based on a matching propensity score procedure, the study provides evidence that M&A realize significantly positive changes to the firm's post-merger innovation performance.
Keywords: Mergers & Acquisitions; Innovation Performance; Telecommunications Equipment Industry (search for similar items in EconPapers)
JEL-codes: L63 O30 L10 (search for similar items in EconPapers)
Pages: 33 p.
New Economics Papers: this item is included in nep-bec, nep-com, nep-cse, nep-eff, nep-ind, nep-ino, nep-mic and nep-tid
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Journal Article: Mergers & acquisitions and innovation performance in the telecommunications equipment industry (2012)
Working Paper: Mergers & Acquisitions and Innovation Performance in the Telecommunications Equipment Industry (2011)
Working Paper: MERGERS & ACQUISITIONS AND INNOVATION PERFORMANCE IN THE TELECOMMUNICATIONS EQUIPMENT INDUSTRY (2007)
Working Paper: Mergers & Acquisitions and Innovation Performance in the Telecommunications Equipment Industry (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:diw:diwwpp:dp728
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