Mergers and Acquisitions

Mergers and Acquisitions

The Innovation Impact

Edited by Bruno Cassiman and Massimo G. Colombo

This book examines the issue of mergers and acquisitions (M & As) in the context of technological development, and in particular the impact of M & As on the innovation process. In so doing, the book integrates two bodies of literature, on M & As, and on innovation studies, a nexus which the editors contend represents an important step in the advancement of our understanding of both with clear implications for competitive advantage and growth of firms. Drawing on perspectives from both management and economics, the book offers a cohesive blend of theory, methodology, and a wealth of empirical material.

Chapter 1: Introduction

Bruno Cassiman and Massimo G. Colombo

Subjects: business and management, organisational innovation, economics and finance, economics of innovation, industrial economics, innovation and technology, economics of innovation, organisational innovation


Bruno Cassiman and Massimo G. Colombo Mergers and acquisitions (M&A) have been used as instruments for firm growth for many years. Engaging in M&A represents an important commitment for any company as it affects every facet of its organization. The intention of this book is not to discuss every facet of M&A, but to highlight the interaction of M&A with the innovation process. Concurrent with M&A activities, innovation has become increasingly important as a way for companies to achieve and maintain a competitive advantage. The contribution of this book is, therefore, very timely as it integrates two bodies of literature (that of M&A and innovation) which, until now, have remained rather disconnected. These two areas hold important implications for firm level decision making, competitive advantage and growth. The aim of this introductory chapter is to place this book in the extant literature on M&A, highlighting its originality and specific added value. We also describe the organization of the book by briefly explaining the conceptual framework that has shaped the empirical analysis, and synthesizing the key findings of the study. We leave to the concluding chapter a more thorough discussion of why and how our empirical results extend our understanding of the effects of M&A on innovation. In the final chapter (Chapter 10), we will also illustrate the implications of this study for firms’ managers and policy makers, and we will indicate promising avenues for future research on this...