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 10: Concluding Remarks

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 In this concluding chapter we intend to emphasize the added value of this book relative to the extant literature on mergers and acquisitions (M&A). For this purpose, we first discuss in what respect the book conforms to and departs from previous studies on the relationship between M&A and innovation. We then synthesize the key results of the book and explain why and how they enrich our understanding of the effects of M&A on the firms’ research and development (R&D) and innovation activity. Finally, we discuss the implications for managers, policy makers and researchers. 10.1 OBJECTIVE OF THE BOOK The main objective of this book is to analyse the effects of industrial restructuring operations associated with M&A on the R&D activity and innovation strategy of the merging units. Actually, the surge in M&A activity that has been occurring since the beginning of the 1990s has stimulated a vigorous debate among policy makers, academics and the public about the consequences of these transactions for the health of the EU economy. We believe that, while drawing attention to the implications of M&A for dynamic efficiency in addition to allocative efficiency, this book provides an interesting contribution to this debate. In fact, empirical studies on the consequences of such operations on companies’ technological activities are rare and findings are quite inconclusive. This book aims to fill this gap in the literature. For this purpose, we have...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information