Mergers and acquisitions strategies for industry leaders, challengers, and niche players: Interaction effects of technology positioning and industrial environment

Bou Wen Lin, Wan Chen Chen, Po-Young Chu

研究成果: Article同行評審

16 引文 斯高帕斯(Scopus)

摘要

This study empirically investigates the merger and acquisition (M&A) strategies of focal firms by considering their market and technology position at the industry level. The results obtained using patents, firm M&A agreements, and the financial data of U.S. technology firms from 1997 through 2008 demonstrate how industry leaders, challengers, and niche players differ in their M&A strategic logic. Three industry environmental factors and two technology positioning factors exhibit different effects on firms' M&A strategies for varied market positions. The overall patterns reveal that niche players are more aggressive in leveraging their technology positions to adopt M&As for the purpose of acquiring access to external knowledge resources, while leaders tend to leverage their market positions and use M&As to further strengthen their market power. Challengers are more likely to engage in M&As when locating in unfavorable environmental markets, but they are less likely to engage in M&As when locating in technologically crowded areas.

原文English
文章編號7001580
頁(從 - 到)80-88
頁數9
期刊IEEE Transactions on Engineering Management
62
發行號1
DOIs
出版狀態Published - 1 2月 2015

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