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Cross-Border M&A and the Acquirers' Innovation Performance: An Empirical Study in China

Yu Zhang, Xianming Wu, Hao Zhang, Chan Lyu
2018 Sustainability  
Fourth, state-owned equity negatively affects the relationship between cross-border M&A and the acquirers' innovation performance; the third-order interaction of state-owned equity on intellectual property  ...  Secondly, it investigates the moderate effects of industrial policy and intellectual property protection on the relationship between cross-border M&A and the acquirers' innovation performance.  ...  Conflicts of Interest: The authors declare no conflict of interest.  ... 
doi:10.3390/su10061796 fatcat:g6hzo3mctvhhvbgrfmo5taw7xa

Corporate governance effects on innovation when both agency costs and asset specificity matter

Filippo Belloc, Eleonora Laurenza, M. Alessandra Rossi
2016 Industrial and Corporate Change  
We use a unique dataset on about 35.000 Italian manufacturing corporations over the 2002-2007 period and run a hurdle model, distinguishing four sub-groups of firms on the basis of their age (greater or  ...  lower than 15 years) and of whether they belong to a high technology or low technology sector.  ...  Listed, finally, has a negative impact on the intensive margin of innovation in young low technology firms and a positive impact on the intensive margin for old high technology firms.  ... 
doi:10.1093/icc/dtw009 fatcat:fwhoh44yyfcr7avdsqz3hceowq

The Influence of a Firm's Capability and Dyadic Relationship of the Knowledge Base on Ambidextrous Innovation in Biopharmaceutical M&As

Ye Jin Lee, Kwangsoo Shin, Eungdo Kim
2019 Sustainability  
A negative binomial regression was conducted using patent data to measure the innovation outcome of the acquirer after M&A.  ...  However, there is a lack of research on the integrated view of (1) the acquirer's capability and (2) the dyadic relationship of the knowledge base between the acquirer and target on the innovation performance  ...  There have been many studies on the factors influencing the technological innovation of corporations after M&As.  ... 
doi:10.3390/su11184920 fatcat:cigf377qp5cdflwdkhmyozqtui

When do incumbents learn from entrepreneurial ventures?

Gary Dushnitsky, Michael J. Lenox
2005 Research Policy  
In this paper, we focus on the potential innovative benefits to corporate venture capital (CVC), i.e. equity investments in entrepreneurial ventures by incumbent firms.  ...  We propose that corporate venture capital programs may be instrumental in harvesting innovations from entrepreneurial ventures and thus an important part of a firm's overall innovation strategy.  ...  We also thank seminar participants at Wharton, Darden, Boston University, the 2002 Academy of Management Conference in Seattle and the 2003 Mini-Technology Conference at Wharton.  ... 
doi:10.1016/j.respol.2005.01.017 fatcat:b6pliv3hojcqvmmfyz4skibsv4

Innovation, R&D and Managerial Compensation

Paroma Sanyal, Laarni T. Bulan
2010 Social Science Research Network  
Short-term cash incentives have little impact on innovation.  ...  As managerial wealth becomes more sensitive to the firm's stock price the innovation performance of a firm improves.  ...  It may have a negative impact on technology concentration since firms with larger R&D budgets may tend to explore newer technology areas.  ... 
doi:10.2139/ssrn.1587055 fatcat:33ymhkrmyzbcxblrf3ammshsw4

Additivity and Complementarity in External Technology Sourcing: The Added Value of Corporate Venture Capital Investments

Vareska van de Vrande, W. Vanhaverbeke, G. Duysters
2011 IEEE transactions on engineering management  
More specifically, we focus on the extent to which corporate venture capital investments are additive or complementary to other modes of technology sourcing when explaining the innovative performance of  ...  Innovating firms often invest in a number of different technology projects, in different stages of development, using a wide range of distinct technology sourcing modes, such as strategic alliances, joint  ...  Next, these dummy variables are included in a negative binomial regression model in order to estimate the effect of particular combinations of strategies on the innovation performance of firms.  ... 
doi:10.1109/tem.2010.2091134 fatcat:fjrtqfrgxjcanpo72lo63w7ymq

The more you spend, the more you get? The effects of R&D and capital expenditures on the patenting activities of biotechnology firms

Roberta Piergiovanni, Enrico Santarelli
2012 Scientometrics  
the negative binomial model to the Poisson one, is significantly different from zero.  ...  two periods with the negative binomial model.  ...  The statistical models employed in the paper are Poisson distribution generalisations with the actual distribution of patent counts fitting the negative binomial distribution and gamma distribution very  ... 
doi:10.1007/s11192-012-0711-z fatcat:ebgcxlabxfdx7j6ikp6vgz5nzy

Technological Diversification Through Corporate Venture Capital Investments: Creating Various Options to Strengthen Dynamic Capabilities

Simon U. Lee, Jina Kang
2015 Industry and Innovation  
In this study, we investigate the effects of CVC investments on corporate investors' technological diversity by using 20 years of panel data from corporate investors in five high-tech industries.  ...  Moreover, the empirical results show that the absorptive capacity of corporate investors positively moderates the effects of CVC investments on the technological diversity.  ...  Acknowledgements We are grateful to Christoph Grimpe, Editor-in-Chief of Industry and Innovation, for his insightful and perceptive editorship.  ... 
doi:10.1080/13662716.2015.1054128 fatcat:5r772m4plzdsjb3xzsl3nsiau4

External technology sourcing: The effect of uncertainty on governance mode choice

Vareska van de Vrande, Wim Vanhaverbeke, Geert Duysters
2009 Journal of Business Venturing  
Central in the study is the dual role of these external corporate venturing relations and their effect on the two types of exploration.  ...  Partners are considered as organizations with whom a focal firm has some kind of external venturing relations, i.e. technological alliances, corporate venturing capital, or M&As.  ...  The negative binomial model for panel data is estimated using the XTNBREG command in STATA.  ... 
doi:10.1016/j.jbusvent.2007.10.001 fatcat:tvmwskjt2zgavhjffgpmefcpbe

Technological diversity, scientific excellence and the location of inventive activities abroad: the case of nanotechnology

Andrea Fernández-Ribas, Philip Shapira
2008 Journal of Technology Transfer  
S&T capabilities of countries also have a positive impact on the decision to invent abroad, while the influence of market specific factors is less clear.  ...  S&T capabilities of countries also have a positive impact on the decision to invent abroad, while the influence of market specific factors is less clear.  ...  The findings and observations contained in this paper are those of the authors and do not necessarily reflect the views of the National Science Foundation.  ... 
doi:10.1007/s10961-008-9090-2 fatcat:gbbtz4zsq5fp3cccun57sibutm

The impact of M&As on company innovation: evidence from the US medical device industry

Chih-Hao Lin, Show-Ling Jang
2009 Scientometrics  
The acquisition of new technologies represents a vitally important and fundamental goal of many corporate managers, particularly those within the medical device industry.  ...  The empirical results of this study suggest that technological acquisitions are only likely to be of help to the acquiring firms, in terms of improving their innovative performance, if they set out to  ...  Acknowledgments The authors appreciate the financial supports from both Taiwan's National Science Council under grant no.  ... 
doi:10.1007/s11192-009-0096-9 fatcat:atag63qxujg67ojstgoeaeha6m

How Do Alliance Portfolio Factors Affect a Precision Medicine Firm's Innovation Performance?

Yucheong Chon, Kwangsoo Shin
2021 Journal of Open Innovation: Technology, Market and Complexity  
As a result, there was an inverted U-shaped relationship between the industry diversity of the portfolio and innovation performance; therefore, the participation of research organizations in the alliance  ...  This study provides information on the alliance portfolio factors that affect the innovation performance of precision medicine companies.  ...  Model Negative binomial regression was used in this study to analyze the impact of the components of the alliance portfolio on a firm's innovation performance.  ... 
doi:10.3390/joitmc7030203 fatcat:fpz5c5aqdzfftckxsu6bi4xuhi

The Impact of Experience on Private Target Acquisition in High-Technology Industries

Yuri Jo, Jungho Kim
2019 Sustainability  
This paper investigates the impact of an acquirer's experience on the acquisition of private firms (i.e., private target acquisition) in high-technology industries by analyzing a dataset of NASDAQ-listed  ...  We also find that an acquirer's growth performance and absorptive capacity prior to the acquisition enhance the positive effects of the experiences on private target acquisition.  ...  Existing studies have usually examined the impact of M&A experience on post-M&A performance by using a sample of low-tech industries or by analyzing public target acquisitions [18] .  ... 
doi:10.3390/su11061603 fatcat:rmnojppblfhenio5ngfebzmahe

THE DUAL ROLE OF EXTERNAL CORPORATE VENTURING IN TECHNOLOGICAL EXPLORATION

YING LI, VARESKA VAN DE, WIM VANHAVERBEKE
2009 Academy of Management Proceedings  
Central in the study is the dual role of these external corporate venturing relations and their effect on the two types of exploration.  ...  Central in the study is the dual role of these external corporate venturing relations and their effect on the two types of exploration.  ...  The negative binomial model for panel data is estimated using the XTNBREG command in STATA.  ... 
doi:10.5465/ambpp.2009.44266509 fatcat:cxszdvxvpvaxzc2aotb4gom7je

R&D manpower and technological performance: The impact of demographic and task-related diversity

Dries Faems, Annapoornima M. Subramanian
2013 Research Policy  
We assess the impact of R&D manpower diversity on firms' technological performance.  ...  sources of diversity within firms' R&D workforce influence technological performance.  ...  In the negative binomial model, we find that patent propensity and R&D manpower size have a significant positive effect on the technological performance of firms.  ... 
doi:10.1016/j.respol.2013.06.001 fatcat:3j6a3j7whbhrnfkkwd4zu6vp7u
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