Affiliation:
1. Tanaka Business School, Imperial College London
2. Carlson School of Management, University of Minnesota
3. Harvard Business School
Abstract
Do acquisitions increase, decrease, or have no effect on innovation? The empirical research on this question suggests that acquisitions may hurt innovation; that is, they may be a “poison pill” for innovation. The authors present an alternative view. For firms that first engage in internal knowledge development, the knowledge-based view the authors present suggests that acquisitions can help innovation; that is, they can be a tonic for innovation. Analysis of cross-sectional, time-series data on a sample of pharmaceutical firms during 1988–97 provides evidence to support the thesis.
Subject
Marketing,Business and International Management
Cited by
288 articles.
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