Mergers and acquisitions (M&As) constitute a disruption to the working environment of the inventive labor force of the acquired company. If inventors would respond with a decline of their patent productivity or departure from the firm this can be detrimental to the innovative process within the...

Technological change is often hypothesized as one of the main drivers of mergeractivities. This paper analyzes the role of technology in mergers and acquisitions(M&As) at the firm level. Based on a newly created data set that combines financialinformation and patent data for public limited...

The objective of this study is to investigate the sensitivity of the estimated relationship between innovation and firm performance. In doing so, we rely on a knowledge production function approach and carry out comparisons in a number of respects. The sensitivity analysis is based on the...

We examine the determinants of product, process, and organizational innovation, and their impact on firm labor productivity using data from a unique innovation survey of firms in Pakistan. We find significant heterogeneity in the impact of different innovations on labor productivity:...

Using a recent sample of hi-tech Chinese small and medium-size enterprises (SMEs), we examine whether family-owned businesses (FBs) can show better innovative productivity than non-FBs. We find that family firms produce a higher level of innovative productivity, consuming less innovation input...

We propose a novel Markov regime-switching Poisson regression model with time-varying transition distributions to test existing theories on determinants of wave-like patterns in same-industry merger and acquisitions (M&As). We show that the dynamics and persistence of merger waves change...

This paper makes a case for the future development of European corporate law throughregulatory competition rather than EC legislation. It is for the first time becoming legallypossible for firms within the EU to select the national company law that they wish togovern their activities. A...

The question of whether or not mergers and acquisitions have helped to enhancebanks’ efficiency and profitability has not yet been conclusively resolved in theliterature. We argue that this is partly due to the severe methodological problemsinvolved. In this study, we analyze the effect of...

Previous work on exit in declining industries has neglected mergers. We examine a simple model that predicts which declining industries experience horizontal mergers. Mergers are more likely if 1) market concentration is high; 2) the inverse demand curve is steep at high levels of output and...

Mergers and acquisitions (M&As) constitute a disruption to the working environment of the inventive labor force of the acquired company. If inventors would respond with a decline of their patent productivity or departure from the firm this can be detrimental to the innovative process within the...