innovation. Empirical results indicate that an increase in antitakeover provisions is negatively related to number of patents and … number of citations to patents. Thus managers who are protected from takeover market perform worse on innovation. However …, the negative relation between antitakeover provisions and firm innovation holds only for low-tech firms. For high …

We find a positive relation between mergers and acquisitions (M&A) activity of a firm and its subsequent innovation … innovation appears at least as significant as that between R&D and innovation. To identify causality between M&A activity and … innovation, we compare the innovation output of failed acquirers to that of successful acquirers and find that failed acquirers …

, should step up innovation efforts and improve corporate governance practices. To this end, supportive policies are needed …, fostering an environment that is more conducive to innovation and entrepreneurship, and facilitating resource reallocation …