M&A deals in the US are done mostly at the domestic level. We examine the M&A performance of US acquirers during 1991-2014 based on the enhanced innovative capacity afforded by cross-border deals. We find that US firms engaging in cross-border M&A have superior innovative capacity, which results...

Two main academic areas that have devoted their attention to the study of real options are financial economics and strategy. Despite significant progress made by each field separately towards our understanding of the theory and application of real options, opportunities exist for more...

The Jumpstart Our Business Startups (JOBS) Act was signed into law on April 5th, 2012. A key objective of the act was to allow new ventures in the United States to go public and raise growth capital more easily and cost-effectively than before. The aim of this paper is to discuss the...

Alliances offer benefits such as access to capital, knowledge and markets. Yet, due to their lack of legitimacy, entrepreneurial firms find it challenging to engage in alliances. Thus, it is important to examine which factors may drive alliance formation for entrepreneurial firms. and we examine...

We investigate firms' pre-IPO corporate activity. We find that firms involved in extraordinary – i.e., beyond momentum – amounts of acquisitions, JVs, and alliances in the year leading up to their IPOs (1) are more likely to engage in post-IPO corporate activity; and (2) enter into their...

We discuss the usefulness of signaling as a complementary theory to help understand various aspects of M&A. Beyond reviewing some of the research in this area to provide examples of contributions, we also intend to provide a critique of existing applications of signaling theory to identify gaps...

This paper examines cross-border mergers and acquisitions undertaken by U.S. companies todetermine whether geographic distance directly affects these firms' governance decisions.We find that U.S. firms tend to acquire higher stakes in geographically proximate targets than in remote ones.The...

Prior research has devoted significant attention to ownership choices when firms make market-entry decisions (e.g., equity alliance versus acquisition). This article emphasizes the importance of studying firms' contractual choices as well as the potential relationships between their contractual...

We seek to identify the key characteristics that allow some firms to acquire valuable entrepreneurial resources in lieu of other potential buyers. This question is central to how firms are able to create and sustain a competitive advantage. The backdrop of this study is the phenomenon of dual...

We examine whether the unique attributes of new ventures lead these firms to experience different Mamp;A outcomes vis-a-vis established organizations. Drawing from a sample of acquisitions of high-technology firms, we present results showing that newly incorporated acquirers experience lower...