Radical or Incremental? Impacts of Mergers and Acquisitions on Firms' Innovation

被引：0

作者：

Xue, Hao ^{[1
]}

Zeng, Saixing ^{[1
]}

Sun, Daxin ^{[1
]}

机构：

[1] Shanghai Jiao Tong University, Shanghai,200030, China

来源：

IEEE Transactions on Engineering Management | 2024年 / 71卷

基金：

中国国家自然科学基金;

关键词：

Cost engineering - Mergers and acquisitions - Professional aspects;

D O I：

暂无

中图分类号：

学科分类号：

摘要：

This article studies whether and how mergers and acquisitions (M&A) intensity makes an impact on a firm's postacquisition innovation. By differentiating the types of innovation, we show that M&A has differential effects on postacquisition radical innovation and incremental innovation. Using a publicly listed firm sample in China from 2011 to 2015, our empirical results provide support that M&A intensity has an inverted U-shaped effect on radical innovation, and has a positive and significant impact on incremental innovation. Furthermore, we introduce Chief Executive Officer (CEO) career background as a contingency factor, showing that the inverted U-shaped relationship between M&A intensity and radical innovation is more pronounced in firms with technical CEOs than in those with nontechnical CEOs, and the positive relationship between M&A intensity and incremental innovation is more pronounced in firms with nontechnical CEOs than in those with technical CEOs. Our findings add to the understanding of organizational consequences of M&A and the role of strategical leadership in the relationship between M&A intensity and firm innovation. © 1988-2012 IEEE.

引用

页码：2698 / 2714