This article focuses on corporate spin-outs as a strategy that can rejuvenate the inventive efforts of inventors with a long tenure in the same company. We rely on an unbalanced panel of 5,604 inventor-year observations to study a matched sample of 431 inventors employed by Xerox Corporation and find evidence in support of three predictions. First, inventors that join a spin-out increase the extent of exploration in their inventive activities. Second, they decrease the extent to which they re...
Increasingly technological innovation results from the joint creation effort of different players in the value chain, such as suppliers, customers, research centres and universities. Balancing co-operative and competitive forces in the innovation process to co-create value and to capture part of this value has become crucial to profit from innovation. In this article, we show that this tension between value creation and value capture is present in each R&D project. Drawing on the case of ...
In this paper, we advance and test the idea that innovation and export are complementary strategies for SMEs’ growth. We argue that innovation and export positively reinforce each other in a dynamic virtuous circle, and we identify and describe the process through which this complementarity relationship takes place. Participating to export markets can promote firms’ learning and thus enhance innovation performance. At the same time, through innovation firms can enter new geographical markets ...
I explore the effect of M&A on the patenting quantity and quality of the firms involved in a deal. Three measures of quality are considered: impact, generality, and originality. The impact of a patent denotes its influence on future inventions. Generality refers to a patent’s applicability across technological fields. Finally, the originality of a patent indicates the extent to which an invention synthesizes diverse technological inputs. Applying a matching estimator to data from the U.S....
We investigate the effect of M&A on the innovation strategy of merging firms’ competitors. We argue that while merging firms may reduce their commitment to innovation in the period following the deal because of an increased focus on short-term M&A implementation and financial considerations, rival firms can on the contrary exploit this moment of inertia to broaden their research and outperform rivals, producing more impactful innovations. We suggest merging firms’ competitors increase...
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