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...

We investigate how M&A activities are used to allocate R&D resources within firm boundaries. We find that Chinese listed firms exhibit strong intra-firm R&D reallocation behaviors following M&A activities from 2007 to 2017. Specifically, they shift innovation activities to subsidiary firms. The...

This study extends the model of open innovation proposed by Scuotto et al. (2017) by exploring how an acquirer can gain knowledge from the open innovation mode (collaboration) in which the acquired firm has participated in. The motivation of this paper is to understand the mechanisms that...