Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/27252
Authors: 
Gantumur, Tseveen
Stephan, Andreas
Year of Publication: 
2007
Series/Report no.: 
DIW Discussion Papers 728
Abstract: 
The telecommunications in the 1990s witnessed an enormous worldwide round of Mergers & Acquisitions (M&A). This paper examines the innovation determinants of M&A activity and the consequences of M&A transactions on the technological potential and the innovation performance. We examine the telecommunications equipment industry over the period 1988-2002 using a newly constructed data set with firm-level data describing M&A and innovation activity as well as financial characteristics. Based on a matching propensity score procedure, the study provides evidence that M&A realize significantly positive changes to the firm's post-merger innovation performance.
Subjects: 
Mergers & Acquisitions
Innovation Performance
Telecommunications Equipment Industry
JEL: 
L63
O30
L10
Document Type: 
Working Paper

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