IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-13016-0_7.html
   My bibliography  Save this book chapter

The Effects of Acquisitions and Restructuring (Strategic Refocusing) Strategies on Innovation

In: The Management of Corporate Acquisitions

Author

Listed:
  • Robert E. Hoskisson
  • Michael A. Hitt
  • R. Duane Ireland

Abstract

The decline in global competitiveness among US firms has been well documented (Franko 1989; Hill, Hitt and Hoskisson 1988; Young 1985). Accompanying this decline has been an increase in merger and acquisition activity that occurred in two surges — one in the late 1960s and one in the 1980s (Ravenscraft and Scherer 1987). Research has shown that acquisition strategies may involve trade-offs. For example, while acquired firms’ shareholders often gain significant abnormal returns, acquiring firms’ shareholders, on average, receive zero or slightly positive returns (Jensen 1988). The purpose of this paper is to examine the potential link between the decline in competitiveness and acquisition and divestiture (refocusing) activity.

Suggested Citation

  • Robert E. Hoskisson & Michael A. Hitt & R. Duane Ireland, 1994. "The Effects of Acquisitions and Restructuring (Strategic Refocusing) Strategies on Innovation," Palgrave Macmillan Books, in: Georg Krogh & Alessandro Sinatra & Harbir Singh (ed.), The Management of Corporate Acquisitions, chapter 7, pages 144-169, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-13016-0_7
    DOI: 10.1007/978-1-349-13016-0_7
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Dooms, E., 2005. "Control in multidivisional firms : Levels issues and internal differentiation," Other publications TiSEM bc7c1906-d54c-46e5-9d8e-1, Tilburg University, School of Economics and Management.
    2. Sung-woo Cho & Jin-young Jung & Byoung-Jin Kim & Hyunjoo Song, 2022. "What Causes the M&A Performance of High-Tech Firms?," Sustainability, MDPI, vol. 14(5), pages 1-14, February.
    3. Vanhaverbeke, W. & Beerkens, B. & Duysters, G., 2001. "Technological capability building through networking strategies within high-tech industries," Working Papers 01.15, Eindhoven Center for Innovation Studies.
    4. Ughetto, Elisa, 2010. "Assessing the contribution to innovation of private equity investors: A study on European buyouts," Research Policy, Elsevier, vol. 39(1), pages 126-140, February.
    5. Józef Ober, 2020. "Innovation Adoption: Empirical Analysis on the Example of Selected Factors of Organizational Culture in the IT Industry in Poland," Sustainability, MDPI, vol. 12(20), pages 1-25, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-13016-0_7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.