Strategy is made of moves, counter-moves, adjustments, actions and reactions. It is founded on an ever-changing external and internal context where numerous actors continuously modify the rules of the game. In these contexts, managers can’t rely on effective planned processes. They have to...

This study examines the effect of external and relational uncertainty on the governance choice for inter-organizational technology sourcing. We develop a number of hypotheses about the impact of environmental turbulence, technological newness, technological distance and prior cooperation on the...

This paper provides empirical evidence on the relationship between cross-border acquisitions and innovation activities of the acquirer. For the empirical analysis a unique firm-level data set is constructed that combines survey data for German firms with a merger and acquisition database. After...

We exploit the deregulation of interstate bank branching laws to test whether banking competition affects innovation. We find robust evidence that banking competition reduces state-level innovation by public corporations headquartered within deregulating states. Innovation increases among...

Managers are risk averse. Excessive risk-aversion can destroy shareholder wealth. A key source of risk is the threat of an opportunistic takeover designed to take advantage of depressed market prices. This is especially the case in innovative or hard-to-value (`HtV') companies whose price may be...

We examine the impact of financial constraints on the relation between antitakeover protection and corporate innovation. On one hand, potential information asymmetry problems in financially constrained firms can exacerbate the entrenchment effect associated with increased antitakeover...

We examine the effects of financial analysts on the real economy in the case of innovation. Our baseline results show that firms covered by a larger number of analysts generate fewer patents and patents with lower impact. To establish causality, we use a difference-in-differences approach that...

This paper is an exploratory research in CNCSIS project TE 328/2010 on the impact of strategic alliances in the implementation of eco-innovation measures, in the automotive sector. The subject is of high interest because the most innovating industries are those who are more technologically...

There is great interest in evaluating the impact of private equity investments on innovation and economic growth. However, there is no direct empirical evidence on the effects of such transactions on the innovation strategies of entrepreneurial firms. We fill this gap by examining a rich...

This paper analyzes the effects of cross-border mergers and acquisitions (M&As) on the innovation of European firms. The results indicate a considerable increase in post-acquisition innovation in the merged entity. This is mainly driven by inventors based in the acquirer's country, while...