The Innovation Impact
Edited by Bruno Cassiman and Massimo G. Colombo
Chapter 6: The Methodology of the Empirical Analysis: The Relatedness of Partners
Bruno Cassiman 6.1 INTRODUCTION In this chapter we ﬁrst describe the methodological approach that allows us to gain a more careful understanding of the eﬀects of Mergers and acquisitions (M&A) on the research and development (R&D) process and organization. We developed a number of in-depth case studies on the eﬀect of a particular M&A on the R&D process of each of the partners. At the same time we have attempted to standardize the frame of analysis for each of the cases to enhance comparability across cases. From this analysis, we were led to focus on a number of key dimensions of M&A and partners, which allow us to pierce the veil of the weak results found in the literature. The most important of these dimensions is the relatedness between partners. Both the ex ante market and technology relatedness seem to play an important role in separating the diﬀerent eﬀects of M&A on the R&D process. While both of these dimensions have been addressed separately in the previous literature, an important contribution of this study is to carefully identify the separate eﬀects of market and technology relatedness by selecting cases that vary along one dimension of relatedness, while keeping constant the other relatedness dimension. In addition to the relatedness dimension, we hypothesize that cross-border deals, deals between partners with previous relations and the actual motivation of the M&A will impact on the R&D process with predictable e...
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