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External Sources of Innovative Capabilities: The Preferences for Strategic Alliances or Mergers and Acquisitions
Author(s) -
Hagedoorn John,
Duysters Geert
Publication year - 2002
Publication title -
journal of management studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.398
H-Index - 184
eISSN - 1467-6486
pISSN - 0022-2380
DOI - 10.1111/1467-6486.00287
Subject(s) - mergers and acquisitions , business , context (archaeology) , industrial organization , core competency , core (optical fiber) , marketing , strategic management , finance , paleontology , materials science , composite material , biology
This paper explores the preferences that companies have as they use alternative (quasi) external sources of innovative competencies such as strategic technology alliances, mergers and acquisitions, or a mix of these. These alternatives are studied in the context of distinct industrial, technological and international settings during the first half of the 1990s. Different strategies followed by companies and the role played by routinized sets of preferences are also taken into consideration. The analysis demonstrates that these options are influenced by both different environmental conditions and firm specific circumstances, such as those related to protecting core businesses.