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A Post M&A Innovation in Family Firms

Author

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  • Abdul-Basit Issah

    (WIFU/Herdecke University)

Abstract

The paper empirically investigates how family firms appropriate acquired resources to become more innovative in the context of merger waves. It draws on resource-based view and the theory of first mover (dis)advantages to examine the implications of the timing of acquisitions on innovation in family firms. Using a panel dataset of manufacturing firms in the Standard & Poor’s (S&P) 500 followed over a period of 31 years, the study finds empirical support for the predictions that targets acquired during the upswing of a merger wave are more valuable to family firms and associated with more innovation than for non-family firms.

Suggested Citation

  • Abdul-Basit Issah, 2021. "A Post M&A Innovation in Family Firms," DEM Discussion Paper Series 21-18, Department of Economics at the University of Luxembourg.
    • Handle: RePEc:luc:wpaper:21-18
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    File URL: https://www.uni.lu/wp-content/uploads/sites/3/2024/06/DP2021-18-A-Post-MA-Innovation-in-Family-Firms.pdf
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    Cited by:

    1. Issah, Wunnam Basit & Anwar, Muhammad & Clauss, Thomas & Kraus, Sascha, 2023. "Managerial capabilities and strategic renewal in family firms in crisis situations: The moderating role of the founding generation," Journal of Business Research, Elsevier, vol. 156(C).

    More about this item

    Keywords

    Acquisitions; innovation; resource-based view; family firms; merger waves.;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General

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