17Oct
金山大学商学院研讨会日程, 研讨会
“Technology Development and Corporate Mergers” by Mr. Danqing Mei
17 Oct 2019 | 11:00 a.m. - 12:30 p.m.
910, 9/F, K. K. Leung Building
Speaker:
Mr. Danqing Mei
Columbia Business School
Columbia Business School
Abstract:
This paper examines the motives as well as consequences of M&As between companies with varying degree of technological overlap. High-overlap merging companies, with more collaboration between the original inventors, produce more patents and go deeper in the existing fields. In contrast, low-overlap couples, with larger fraction of new inventors, experience bigger technology shifts and explore fresher areas with higher commercial values. Importantly, M&A completion facilitates technology transformation more than what the two companies, especially pairs with low overlap, could have accomplished on their own. Overall, direction of innovation is an important motive for technology-driven acquisitions.