期刊
JOURNAL OF MARKETING
卷 69, 期 1, 页码 114-130出版社
AMER MARKETING ASSOC
DOI: 10.1509/jmkg.69.1.114.55514
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Do acquisitions increase, decrease, or have no effect on innovation? The empirical research on this question suggests that acquisitions may hurt innovation; that is, they may be a poison pill for innovation. The authors present an alternative view. For firms that first engage in internal knowledge development, the knowledge-based view the authors present suggests that acquisitions can help innovation; that is, they can be a tonic for innovation. Analysis of cross-sectional, time-series data on a sample of pharmaceutical firms during 1988-97 provides evidence to support the thesis.
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