Licencing as a commercialisation strategy under different institutional contexts: a comparative empirical analysis of German and Chinese biotechnology firms

Chen, Yantai; Dowling, Michael; Helm, Roland

doi:10.1504/ijbg.2011.041829

Cited by 2 publications

(1 citation statement)

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“…In addition, patents increase the opportunities to generate revenues from inventions. Specifically, patents facilitate the selling and licensing of technologies and, thus, provide additional forms of economic returns than the (traditional) commercialisation of products (Chen et al 2011). Given the increasing relevance of the market for technologies (Moreira et al 2019), we might suspect that M&A-acquiring firms consider patents more valuable than other types of innovation.…”

Section: Resultsmentioning

confidence: 99%

Exiting the market by mergers and acquisitions. Does the crisis matter

Cappelli,

Cucculelli

2023

IJEBR

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Mergers and Acquisitions (M&A) have been extensively and thoroughly studied as a result of a decision on exiting the market. Most attention has been directed to M&A occurring during business booms when numerous deals take place and prices are high. Conversely, least attention has been devoted to M&A during a crisis or just after recessionary periods.Using a sample of 358 mergers that occurred in Europe before (145) and after (213) the financial crisis, this paper explores if and to what extent the innovation profile of incumbents affects the exit decisions through M&A before and after the crisis.Internal R&D and product innovations are major drivers of deals in young industries, whereas process innovation plays a crucial role in mature industries. Patents are the only key innovation drivers of M&A after the crisis, both in young and mature industries. We furnish here some explanations of the mechanisms behind these emergent behaviours.

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Section: Resultsmentioning

confidence: 99%