دانلود رایگان مقاله انگلیسی رابطه بین ادغام و جذب و نوآوری: بررسی سیستماتیک - امرالد 2017

Abstract

Purpose – The link between mergers and acquisitions (M&A) and innovation has been analysed in both corporate finance studies and the innovation literature. Despite this attention and the practical evidence that highlights different connections between these two terms, there is a need to investigate the latest trends with regard to these important topics, and to put a particular focus on the emerging paradigm of open innovation. Thus, this paper aims to provide a systematic literature review (SLR) about the relationship between M&As and the concept of innovation in the current scenario. Design/methodology/approach – Through an SLR from 2012 to June 2017, 55 papers have been identified and analysed to give a better understanding of the motivations and the methodologies adopted in past studies. Findings – This paper identifies various conceptual and research methodological characteristics of studies that have connected, directly or indirectly, M&As and innovation in recent years. In addition, the results highlight a scarcity of studies that explicitly or implicitly refer to the open innovation paradigm, marking only a partial understanding of this emerging phenomenon. Originality/value – This paper improves the knowledge on the link between extraordinary corporate transactions and innovation, and it highlights that a clear consensus, particularly regarding the open innovation paradigm, is lacking. Thus the authors propose that future studies should carefully evaluate M&As by following the open innovation approach.

Conclusion, limitations and future research

This paper sets out to explore, through an SLR, the literature on (open) innovation and M&As. We can conclude that there is established literature that addresses the concepts of M&A and innovation jointly. However, we have shown in this review that we cannot confirm the same about M&A and open innovation. While it is common in the literature to explain open innovation practice and to investigate open innovation sources, no study has yet systematically captured it in relation to M&A. In particular, there are many implications that can be studied and mastered, but only if researchers consider M&A activities as a reason for open innovation. More research is necessary to examine M&A operations under the wider approach of open innovation. This study can be used as an input for future study with the aim of focusing more on M&A operations and, specifically, their relationship with open innovation.

For example, it could be interesting to explore the effects of M&A as an individual open innovation practice on the innovation performance of firms, and/or to investigate whether there are some complementary or substitute effects with other well-established open innovation practices. In fact, in some cases the amount of resources needed for a long M&A process can mean that a firm does not have enough resources to pursue also open innovation activities.