An exploration of innovation performance in M&A transactions

• Autor(a) principal: Wallner, Florian
• Data de Publicação: 2023
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10362/161259
• topic: M&A; Firm performance; Innovation; R&D; Return on research capital; R&D intensity; Domínio/Área Científica::Ciências Sociais::Economia e Gestão

Innovation and M&A activities have been the driving forces of companies’ growth and expansion. However, literature examining the actual link between innovation and M&A has remained limited with mixed results but growing attention. This study seeks to shed light on the impact of M&A on acquiror’s post deal innovation performance and further examines the role of innovation as a motive. By using quantitative analysis and R&D spendings as key indicators, the study concludes that the target’s R&D level negatively impacts acquirors’ post innovation performance but further suggeststhat companiesseek to target firms with higher R&D intensities than themselves.