In this work we discuss the impact of the new ICT techno-economic paradigm upon thevertical and horizontal boundaries of the firm and ask whether the change in the sources ofcompetitive advantage has resulted in changes in the size distribution of firms and also in thedegree of concentration of...

We find that the decision by a potential acquirer to complete or cancel an announced acquisitionproposal is sensitive to new information generated after the announcement of the acquisition.Both the acquirer and target’s cumulative abnormal returns (CAR) over different windows afterthe...

Post-M&A organisational cultural change is a traumatic experience for organisational members. It generates resistance and contributes to M&A failure. Nevertheless, the literature on managing post-M&A cultural change is scarce and largely focused on overcoming the debilitating impact of...

The literature on mergers and acquisitions (M&A) has accumulated a wide body of knowledge on the role of culture in post-M&A integration. Available research uses varied perspectives on culture and cultural change processes. Some define culture as a force shaping human action, others examine...

This paper investigates empirically the strategic alignment between innovation andproduction strategies in a sample of service firms in Spain. It employs the integratedarchetypes approach to analyse a dataset of unique, manually collected, firm responses....

Recent studies of sectoral specialisation and technological development across market economies have shown how contrasting patterns of technical change can be explained by the different institutional frameworks that have become established in distinct types of economy (see, e.g., Casper, 2000;...

The bidder who wins at an auction may end up paying more for an asset than it is actually worth. This, stated very simply, is the so-called winner's curse. Consider the simplest possible case where the asset has the same actual value to all bidders, but bidders do not know for certain what that...

The aim of the present work is to study the evolution of organizational knowledge within Academic Spin-off (ASO) firms throughout their life cycle. The exploitation of tacit and indivisible new knowledge developed in the context of academic institutions entails agency problems of different...

Departing from a number of theoretical perspectives from which rationales for science,technology and innovation (STI) policy can be extracted, this paper discusses threequestions. First, what rationales for public intervention can be derived from differenteconomic theories, including theories...

Today rural sector reform is a paramount issue in Indonesian development. Yet, different social actorshave different perspectives and stances towards it. Non-Government Organisations (NGOs) inIndonesia have established themselves in pivotal positions in the social, economic and...