Mergers and Acquisitions, Entrepreneurship and Innovation

Mergers and Acquisitions, Entrepreneurship and Innovation

Author:

Publisher: Emerald Group Publishing

ISBN: 9781786353719

Category: Business & Economics

Page: 192

View: 583

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This volume of Technology, Innovation, Entrepreneurship and Competitive Strategy is devoted to research aimed at understanding success and failure factors of mergers and acquisitions in entrepreneurial firms. Contributions are multidisciplinary and cross-cultural, and tackle key issues from a variety of theoretical and empirical perspectives.

Competition, Entrepreneurship, and Innovation

Competition, Entrepreneurship, and Innovation

Author: Xinxin Wang

Publisher:

ISBN: OCLC:1020062994

Category:

Page: 88

View: 649

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What kind of market structure promotes innovation and growth? This dissertation delves into the relationship between market power, innovation, and returns. On one hand, competition exerts downward pressure on costs and provides incentives for efficient organization of production. On the other, the Schumpeterian hypothesis suggests that monopolist rents are necessary to encourage technological disruption. I study the effects of competition in two distinct settings: the acquisition of early-staged high-growth startups and horizontal mergers between public companies. In Chapter 1, Catering Innovation: Entrepreneurship and the Acquisition Market, I study the role of the financial market of acquisitions on an inventor's decision to begin a new venture and his or her subsequent innovation. After documenting its increasing importance as the dominant exit path for entrepreneurs, I test a novel catering theory of innovation: Does the market structure of potential acquirers have a measurable impact on inventors' start-up decisions? I construct a new dataset of early stage start-ups using the uniquely broad coverage of CrunchBase and VentureXpert data. I disambiguate and match the resulting data to employment data from LinkedIn and to the entire universe of patent data. Using the prior citation history of entrepreneurs for exogenous variation, I construct a formal proxy variable and employ the Heckman selection model to establish causality. I find that a one standard deviation increase in acquirer market concentration decreases the inventor's propensity to become an entrepreneur by 4%. This first result suggests that fragmented markets are appealing entry markets. My main finding is that a one standard deviation increase in acquirer concentration and market size increases the quality of patents, as measured by citations per patent, and the catering of entrepreneurs, as measured by technological overlap with potential acquirers. The magnitudes suggest that 5-16% of entrepreneurial innovation can be attributed to the influence of acquisition markets, particularly in the information technology and biotechnology industries. In Chapter 2, Market Power in Mergers and Acquisitions, I explore the value implications of market power changes in public mergers and acquisitions. Using a large sample of horizontal mergers from 1980 to 2012, I provide evidence that a significant portion of merger announcement returns are explained by changes in market power resulting from the merger. I find that a 0.1 expected increase in product market concentration leads to a 2.3% increase in cumulative abnormal returns over a three day period. In the long-run, mergers with high expected changes in market power revert to pre-announcement levels. My results suggest the "announcement effect" in M&A is due to misplaced market power expectations by investors.

Corporate Entrepreneurship and Innovation

Corporate Entrepreneurship and Innovation

Author: Paul Burns

Publisher: Bloomsbury Publishing

ISBN: 9781352008807

Category: Business & Economics

Page: 465

View: 911

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Written by a highly regarded expert on entrepreneurship, this bestselling textbook provides an engaging and comprehensive overview of corporate entrepreneurship. Now in its fourth edition and fully revised throughout, this accessible text is structured in four key parts that cover everything a student needs to know about the topic. After an initial consideration of what constitutes corporate entrepreneurship and innovation, the author then guides students through the four pillars of entrepreneurial architecture: culture, structure, leadership and strategy. The third section focusses on the entrepreneurial mind-set, including how to encourage creativity, business ideas and developing concepts. Finally, the book draws attention to corporate venturing, examining venture teams, intrapreneurs, market development and the role of shareholder value. It is no longer sufficient for businesses to grow simply by cutting costs and taking over competitors. To achieve true success, organisations must avoid an ageing product or service portfolio to bring new, innovative ideas to market. Corporate entrepreneurship is inherently risky and therefore requires a fresh approach to strategy. The approach Paul Burns offers will successfully overcome barriers to launching new ideas, internal challenges of managing creativity and show how to foster an entrepreneurial culture. This is the go-to textbook for all students studying Corporate Entrepreneurship, Intrapreneurship or Corporate Venturing at undergraduate, postgraduate or MBA level. The book is also essential reading for courses on Strategic Entrepreneurship and Innovation. New to this Edition: - Fully revised and updated content throughout with new four-part structure - Brand new case studies in every chapter, featuring some of the world's highest profile companies from across the globe - A greater focus on innovation, including a new chapter on this topic at the start of the book - New chapters on 'Developing a Business Model', 'Managing Change' and 'Managing Risk' - New on-page glossary with key terms highlighted in the text and defined in the margins - New Activities and Group Discussion topics at the end of each chapter Accompanying online resources for this title can be found at bloomsburyonlineresources.com/corporate-entrepreneurship-and-innovation-4e. These resources are designed to support teaching and learning when using this textbook and are available at no extra cost.

Winning at the Acquisition Game

Winning at the Acquisition Game

Author: Timothy Galpin

Publisher: Oxford University Press, USA

ISBN: 9780198858560

Category: Business & Economics

Page: 240

View: 890

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In an era of digital transformation, disruptive innovation, transient competitive advantage, and industry convergence, mergers and acquisitions have become more complex than ever. Through an actionable end-to-end process model this book presents practical knowledge and tools to help readers successfully complete each stage of the M&A process.

Business Model Innovation

Business Model Innovation

Author: S.M. Riad Shams

Publisher: Routledge

ISBN: 9781000380408

Category: Business & Economics

Page: 216

View: 526

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There has been growing interest on business models among academics and practitioners in recent years, as business model describes how an organization creates, distributes and captures value and, therefore, can be considered the DNA of the organization. Recently, factors related to digital transformation, the vital role of sustainability and social aspects, along with an increasing globalization, have pushed towards radical transformations in business models. This book aims to further our knowledge on business model innovation in new contexts of analysis and with new perspectives of investigation. Insights from business model innovation are presented from studies focusing on start-ups, small businesses and large businesses to provide a bigger picture on new dynamics connected to digital transformation, sustainability, new global relationships. As such, the scope is on new ways to create value, new components and dynamics (such as digitalization and sustainability) concerning the key elements of the business model (value creation, value configuration and value capture), and new relationships between actors that may foster business model innovation. It represents a valuable resource for practitioners willing to innovate business models, academics aiming at finding new research lines, and students keen to learn more about business models.

Entrepreneurship, Innovation and Smart Cities

Entrepreneurship, Innovation and Smart Cities

Author: Vanessa Ratten

Publisher: Taylor & Francis

ISBN: 9781315407456

Category: Business & Economics

Page: 126

View: 229

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Cover -- Title -- Copyright -- Contents -- Foreword -- Acknowledgements -- 1 Global competitiveness of cities -- 2 Regional development of cities -- 3 Innovation systems and multiple helix ecosystems -- 4 Social innovation, knowledge and networks in smart cities -- 5 Sustainable entrepreneurship in cities -- 6 Institutional entrepreneurship and urban planning -- 7 Entrepreneurial universities -- 8 The future of smart cities -- Index

The Oxford Handbook of Creativity, Innovation, and Entrepreneurship

The Oxford Handbook of Creativity, Innovation, and Entrepreneurship

Author: Jing Zhou

Publisher: Oxford University Press

ISBN: 9780199927685

Category: Psychology

Page: 784

View: 969

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Research-based investigations of creativity, innovation, and entrepreneurship have the potential to inform each other and enrich our knowledge of each of these areas, particularly with regard to cognitive processes and effective behaviors. Yet, while these research streams have increasingly received a great deal of attention, they have developed largely independently of one another. The Oxford Handbook of Creativity, Innovation, and Entrepreneurship addresses the critical need to integrate these three interrelated literatures. The handbook features contributions from the leading scholars in these research areas. As a group, the chapters examine the intersections of these topics to synthesize contemporary research and provide direction and stimulation for further interdisciplinary investigations of organizational creativity, innovation, and entrepreneurship.

Strategic Alliances, Mergers and Acquisitions

Strategic Alliances, Mergers and Acquisitions

Author: J. M. Ulijn

Publisher: Edward Elgar Publishing

ISBN: 9781849805612

Category: Business & Economics

Page: 304

View: 420

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Organizational flirts and marriages alliances, mergers and acquisitions are dramatic examples of how soft cultures can produce hard facts of success or failure. Decisions born from human vanity can lead to destruction of human capital. The chapters selected by Ulijn, Duysters and Meijer illustrate the many facets of organizational family life for the scholar and, hopefully, for the decision-maker who considers another move. Geert Hofstede, author of Culture s Consequences This unique book focuses on the link between different types of culture (national, corporate, professional) and the success of strategic alliances, mergers and acquisitions. Over the past decades we have seen a significant increase in the number of strategic alliances, mergers and acquisitions. Despite this proliferation many recent studies have reported high failure rates. This failure is often attributed to cultural differences between partners, which has led to a growing body of literature on the subject. To date, most of these studies have focused on national and corporate culture, whereas this book also places particular emphasis on the importance of culture at the professional level. The authors clearly show that all three levels of culture may have a profound impact upon the ultimate success or failure of alliances, mergers and acquisitions. Researchers in the field of international business, strategic management, and strategic alliances, mergers and acquisitions will find this book to be of invaluable interest. Managers in multinational corporations and international business students should also not be without this important resource.

Annals of Entrepreneurship Education and Pedagogy _ 2014

Annals of Entrepreneurship Education and Pedagogy _ 2014

Author: Michael H. Morris

Publisher: Edward Elgar Publishing

ISBN: 9781783471454

Category: Business & Economics

Page: 448

View: 470

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A sizable gap exists between the ample demands for (and growing supply of) entrepreneurship education and our understanding of how to best approach the teaching and learning of entrepreneurship. To help close this gap, the United States Association for

Location Strategies and Value Creation of International Mergers and Acquisitions

Location Strategies and Value Creation of International Mergers and Acquisitions

Author: Ludivine Chalençon

Publisher: John Wiley & Sons

ISBN: 9781119340973

Category: Business & Economics

Page: 388

View: 227

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This title enriches both areas of research, finance and international management to analyze the choice of location and value creation in mergers and acquisitions. Our research answers the following question: What are the determinants of the location and value creation in mergers and acquisitions?

Entrepreneurial Ecosystems Meet Innovation Systems

Entrepreneurial Ecosystems Meet Innovation Systems

Author: Alexandra Tsvetkova

Publisher: Edward Elgar Publishing

ISBN: 9781789901184

Category: Business & Economics

Page: 288

View: 441

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This book presents multidisciplinary research that expands our understanding of the innovation system (IS) and the entrepreneurial ecosystem (EE) perspectives on regional economic development. It critically reviews the two concepts and explores the promise and the limits of bridging IS and EE, particularly as applied outside of the bubbling global hubs or to the types of entrepreneurship different from the high-growth variety.

Advances in Mergers and Acquisitions

Advances in Mergers and Acquisitions

Author: Sydney Finkelstein

Publisher: Emerald Group Publishing

ISBN: 9781800717237

Category: Business & Economics

Page: 167

View: 410

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Advances in Mergers and Acquisitions stands out from the competition due to its focus on three key characteristics: studies from scholars in different countries, with different research questions, relying on different theoretical perspective.