Arbeitspapier
Hiring new key inventors to improve firms' post-M&A inventive output
Although merger and acquisitions (M&As) are acknowledged as an important means to access innovative assets and know-how, firms' inventive output often declines in the post-M&A period. Financial, managerial and organizational constraints related to the M&A event contribute to inventive output declines and inventors' departure. Prior literature treats the acquiring firm as a passive observer of invention declines. This study argues that acquiring firms can take measures by hiring new key inventors. We show that the hiring of new key inventors in the post-M&A period can counteract invention declines in two ways. First, these newly hired inventors are associated with an increase of corporate inventive output after the M&A. Second, they are also associated with an improved inventive output of inventors already working for the acquiring firm. These results suggest that an appropriate hiring policy can counteract declining inventive output of firms in the aftermath of M&As.
- Sprache
-
Englisch
- Erschienen in
-
Series: ZEW Discussion Papers ; No. 20-029
- Klassifikation
-
Wirtschaft
Intellectual Property and Intellectual Capital
Management of Technological Innovation and R&D
Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
- Thema
-
M&A
post-M&A inventive output
key inventors
KBV
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Arroyabe, M. F.
Hussinger, Katrin
Hagedoorn, John
- Ereignis
-
Veröffentlichung
- (wer)
-
ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
- (wo)
-
Mannheim
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Arroyabe, M. F.
- Hussinger, Katrin
- Hagedoorn, John
- ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
Entstanden
- 2020
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