IP protection and ownership in cross-border acquisitions

被引：4

作者：

Bazel-Shoham, Ofra ^{[1
]}

Lee, Sang Mook ^{[2
]}

Ahammad, Mohammad Faisal ^{[3
]}

Tarba, Shlomo Y. ^{[4
]}

Alon, Ilan ^{[5
,6
]}

机构：

[1] Temple Univ, Fox Sch Business, Philadelphia, PA USA

[2] Penn State Univ Great Valley, Penn State Great Valley Sch Grad Profess Studies, Malvern, PA USA

[3] Leeds Univ Business Sch, CIBUL, Leeds, England

[4] Univ Birmingham, Birmingham Business Sch, Birmingham, England

[5] Univ Ariel, Dept Econ & Business Adm, IL-40700 Ariel, Israel

[6] Univ Agder, Kristiansand, Norway

来源：

INTERNATIONAL BUSINESS REVIEW | 2023年 / 32卷 / 03期

关键词：

IP protection; Institutional theory; M & Technological intensity; INTELLECTUAL PROPERTY-RIGHTS; INSTITUTIONAL DISTANCE; ENTRY MODE; KNOWLEDGE ACQUISITION; PATENT PROTECTION; TRANSACTION COSTS; DIRECT-INVESTMENT; FOREIGN ENTRY; DETERMINANTS; CHOICE;

D O I：

10.1016/j.ibusrev.2023.102101

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We use the institutional theory to examine the impact of intellectual property protection on US multinational corporations (MNCs) ownership levels of their foreign acquisitions. Based on a sample of 7238 completed in-ternational M&A deals made by US MNCs from 1998 to 2017, we found that multinationals protect their in-tellectual property through more ownership when they are technologically intensive and invest more when IP protection is strong. However, IP protection negatively moderates the need for more ownership for technologically-intensive multinational corporations. Our results are robust to a battery of empirical tests, including a unique instrumental variable approach. This leads us to claim that our results are not merely correlated but are causal.

引用

页数：18

共 83 条

[1] Equity Ownership in Cross-border Mergers and Acquisitions by British Firms: An Analysis of Real Options and Transaction Cost Factors [J].

Ahammad, Mohammad F. ;

Leone, Vitor ;

Tarba, Shlomo Y. ;

Glaister, Keith W. ;

Arslan, Ahmad .

BRITISH JOURNAL OF MANAGEMENT, 2017, 28 (02) :180-196

[2] R&D capabilities, intellectual property strength and choice of equity ownership in cross-border acquisitions: evidence from BRICS acquirers in Europe [J].

Ahammad, Mohammad Faisal ;

Konwar, Ziko ;

Papageorgiadis, Nikolaos ;

Wang, Chengang ;

Inbar, Jacob .

R & D MANAGEMENT, 2018, 48 (02) :177-194

[3] Lost in translation? The effect of cultural values on mergers around the world [J].

Ahern, Kenneth R. ;

Daminelli, Daniele ;

Fracassi, Cesare .

JOURNAL OF FINANCIAL ECONOMICS, 2015, 117 (01) :165-189

[4] Intellectual property rights and cross-border mergers and acquisitions [J].

Alimov, Azizjon ;

Officer, Micah S. .

JOURNAL OF CORPORATE FINANCE, 2017, 45 :360-377

[5] The dual effect of board gender diversity on R&D investments [J].

Almor, Tamar ;

Bazel-Shoham, Ofra ;

Lee, Sang Mook .

LONG RANGE PLANNING, 2022, 55 (02)

[6] Greenfield or M&A? An institutional and learning perspective on the establishment mode choice of Chinese outward investments [J].

Alon, Ilan ;

Elia, Stefano ;

Li, Shaomin .

JOURNAL OF INTERNATIONAL MANAGEMENT, 2020, 26 (03)

[7] Absolute and relative resources as determinants of international acquisitions [J].

Anand, J ;

Delios, A .

STRATEGIC MANAGEMENT JOURNAL, 2002, 23 (02) :119-134

[8] MODES OF FOREIGN ENTRY - A TRANSACTION COST-ANALYSIS AND PROPOSITIONS [J].

ANDERSON, E ;

GATIGNON, H .

JOURNAL OF INTERNATIONAL BUSINESS STUDIES, 1986, 17 (03) :1-26

[9] New Integration Strategies for Post-Acquisition Management [J].

Angwin, Duncan N. ;

Meadows, Maureen .

LONG RANGE PLANNING, 2015, 48 (04) :235-251

[10] FDI entry strategies and the impacts of economic freedom distance: Evidence from Nordic FDIs in transitional periphery of CIS and SEE [J].

Arslan, Ahmad ;

Tarba, Shlomo Y. ;

Larimo, Jorma .

INTERNATIONAL BUSINESS REVIEW, 2015, 24 (06) :997-1008

← 1 2 3 4 5 6 7 8 9 →