Arbeitspapier
Does green transition promote green innovation and technological acquisitions?
This analysis explores the implications of technological shifts towards greener and sustainable innovations on acquisition propensity between firms with different technological capacities. Using a dataset of completed control acquisition deals over the period of 2009-2020 from 23 OECD countries, we find that innovative firms are more likely to acquire innovative target companies. We also find that green acquirors (i.e., firms with green patents) are more inclined to enter into acquisition deals with green firms, possibly due to their technological proximity and informational advantages which further enhances their post-acquisition green innovation performances. Our results also show an increase in green acquisitions after the Paris Agreement by non-green acquiror firms, and these are more pronounced for acquirors in climate policy-relevant sectors and countries with low environmental standards than their counterparts. However, green acquisitions after the Paris Agreement do not show any significant impact on their post-acquisition innovation performances, raising concerns related to greenwashing behaviour by investing firms.
- Language
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Englisch
- Bibliographic citation
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Series: JRC Working Papers in Economics and Finance ; No. 2023/4
- Classification
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Wirtschaft
Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
Climate; Natural Disasters and Their Management; Global Warming
Environmental Economics: Technological Innovation
- Subject
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Acquisitions
Green patents
Firm Innovation
Paris Agreement
Green Transition
- Event
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Geistige Schöpfung
- (who)
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Bose, Udichibarna
Gregori, Wildmer Daniel
Martinez Cillero, Maria
- Event
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Veröffentlichung
- (who)
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European Commission
- (where)
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Ispra
- (when)
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2023
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Bose, Udichibarna
- Gregori, Wildmer Daniel
- Martinez Cillero, Maria
- European Commission
Time of origin
- 2023