Using a new trademark-based product market competition measure and a novel trademark-merger dataset over the period 1983-2016, we show that companies facing greater product market competition are more likely to be acquirers. We further show that postmerger, compared to their non-acquiring peers,...

We examine how firms react to their competitors' highly publicized technology breakthroughs measured by the renowned R&D 100 Award. These awards have been granted to top 100 technological inventions every year since 1965 and have come to be known as the “Oscar of Invention” (e.g., Verhoeven,...

We propose and empirically examine cross-border mergers and acquisitions (M&As) as an important dimension of firms' innovation strategies. Our empirical analyses, based on a sample of 85,591 M&A deals from 57 countries, show that innovative firms in low innovation countries are more likely to...