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Review of the Literature on the Impact of Mergers on Innovation

Author

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  • Schulz, Norbert

Abstract

Both M&A and innovation are instruments for growth and competitive advantage. Therefore they are fundamental to each firm?s competitive strategy. Usually, both instruments have been studied separately, but much less in conjunction. This is unfortunate as both processes - the process of innovation and the process of mergers and acquisitions - are intimately connected. The impact of mergers on innovation can only be rigorously assessed, if the converse direction of influence - mergers caused by innovation - is accounted for. Therefore this review tries to take a balanced view on both processes and to point out links between them. Nevertheless, the focus is on the impact of mergers on innovation. This discussion paper is identical with an older version with the title ?Review on the Literature of Mergers on Innovation?.

Suggested Citation

  • Schulz, Norbert, 2007. "Review of the Literature on the Impact of Mergers on Innovation," ZEW Discussion Papers 07-061, ZEW - Leibniz Centre for European Economic Research.
    • Handle: RePEc:zbw:zewdip:6661
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    File URL: https://www.econstor.eu/bitstream/10419/24635/1/dp07061.pdf
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    Citations

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    Cited by:

    1. Gordon M. Phillips & Alexei Zhdanov, 2017. "Venture Capital Investments and Merger and Acquisition Activity Around the World," NBER Working Papers 24082, National Bureau of Economic Research, Inc.
    2. Cefis, Elena & Marsili, Orietta, 2015. "Crossing the innovation threshold through mergers and acquisitions," Research Policy, Elsevier, vol. 44(3), pages 698-710.
    3. E. Cefis & M. Ghita, 2008. "Post Merger Innovative Patterns in Small and Medium Firms," Working Papers 08-09, Utrecht School of Economics.
    4. Bianconi, Marcelo & Tan, Chih Ming, 2019. "Evaluating the instantaneous and medium-run impact of mergers and acquisitions on firm values," International Review of Economics & Finance, Elsevier, vol. 59(C), pages 71-87.
    5. Torsten Gerpott, 2009. "Forschung & Entwicklung und technologieorientierte Unternehmensakquisitionen," Metrika: International Journal for Theoretical and Applied Statistics, Springer, vol. 20(1), pages 9-41, May.
    6. Stephen Martin, 2012. "Market Structure and Market Performance," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 40(2), pages 87-108, March.
    7. Stein E. Østbye & Matthew R. Roelofs, 2013. "The competition--innovation debate: is R&D cooperation the answer?," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 22(2), pages 153-176, March.
    8. Gordon M Phillips & Alexei Zhdanov, 2024. "Venture Capital Investments, Merger Activity, and Competition Laws around the World," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 13(2), pages 303-334.

    More about this item

    Keywords

    innovation incentives; market structure; merger incentives;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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