Kallunki, Juha-Pekka; Pyykkö, Elina; Laamanen, Tomi - In: Journal of Business Finance & Accounting 36 (2009-09) 7-8, pp. 838-862
In this paper, we investigate whether a firm can enhance the effect of its R&D spending on its current market value and future profitability through technology-oriented M&As. On the basis of an analysis of 1,879 M&As, we find that when a technology firm acquires another technology firm, the...