Determinants of acquisition value: the role of target and acquirer characteristics
by Marcus Wagner
International Journal of Technology Management (IJTM), Vol. 62, No. 1, 2013

Abstract: Innovation activities in high technology industries frequently imply make-or-buy decisions because of the heterogeneity of firms' ability to pursue specific types of innovation. This paper investigates the factors determining the value of acquisitions in three distinct high technology industries, namely semiconductors, biotechnology and electronic design automation. It analyses how target and acquirer characteristics relate to acquisition value. The paper finds an association of acquisition value with innovation activities and results of the acquirer and with knowledge residing in the target. This suggests that both, acquirer and target characteristics determine the value of acquisitions but with differing effects across industries.

Online publication date: Thu, 30-May-2013

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Technology Management (IJTM):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com