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Sonderforschungsbereich 649: Ökonomisches Risiko, Humboldt-Universität Berlin >
SFB 649 Discussion Papers, HU Berlin >
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http://hdl.handle.net/10419/25235
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| Title: | | Determinants of the acquisition of smaller firms by larger incumbents in high-tech industries: are they related to innovation and technology sourcing?  |
| Authors: | | Wagner, Marcus |
| Issue Date: | | 2007 |
| Series/Report no.: | | SFB 649 discussion paper 2007,063 |
| Abstract: | | Innovation activities in high tech industries provide considerable challenges for technology and innovation management. In particular, firms frequently face significant technological challenges since these industries has a long history of radical innovations which are taking place through distinct industry cycles of higher and lower demand. The paper investigates these issues for three high-tech industries, namely semiconductor manufacturing, biotechnology and electronic design automation which is a specific sub-segment of the semiconductor industry. It analyses the association of firm characteristics with different aspects of acquisition behaviour. Particular focus is put on innovation-related firm characteristics. The paper finds that the determinants for acquisitions are mostly related to firm size, financial conditions and geographical origin of the firm. Only for biotechnology, a substitutive relationship is identified between acquisitions and own research activities. |
| Subjects: | | acquisition innovation semiconductor design automation biotechnology |
| JEL: | | L10 L86 M20 |
| Document Type: | | Working Paper |
| Appears in Collections: | | SFB 649 Discussion Papers, HU Berlin
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