When do acquirers invest in the R&D assets of acquired science-based firms in cross-border acquisitions? The role of technology and capabilities similarity and complementarity

Marcela Miozzo, Lori DiVito, Panos Desyllas

Research output: Contribution to journalArticle

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Abstract

Drawing on a multiple case study of acquisitions of UK biopharmaceutical firms, we develop an analytical framework that elucidates how key determinants of the knowledge base of science-based firms and their combinations through M&As interact and affect post-acquisition investment in the target’s R&D projects. We show that two factors - the complementarity/ similarity of the technology, and the complementarity/ similarity of the discovery and development capabilities of the target and acquiring firm - interact to produce different outcomes in terms of investment in the acquired firm’s R&D assets and for the local science and technology system.
Original languageEnglish
Pages (from-to)221-240
Number of pages20
JournalLong Range Planning
Volume49
Issue number2
Early online date11 Sep 2015
DOIs
Publication statusPublished - 1 Apr 2016

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complementarity
assets
acquisition
firm
science
analytical framework
science and technology
determinants
border
Complementarity
Assets
Cross-border acquisitions

Cite this

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