Mergers and Acquisitions Strategies for Industry Leaders, Challengers, and Niche Players: Interaction Effects of Technology Positioning and Industrial Environment

PROJECT TITLE :

Mergers and Acquisitions Strategies for Industry Leaders, Challengers, and Niche Players: Interaction Effects of Technology Positioning and Industrial Environment

ABSTRACT:

This study empirically investigates the merger and acquisition (M&A) ways of focal firms by considering their market and technology position at the business level. The results obtained using patents, firm M&A agreements, and also the monetary information of U.S. technology corporations from 1997 through 2008 demonstrate how trade leaders, challengers, and niche players differ in their M&A strategic logic. Three trade environmental factors and 2 technology positioning factors exhibit totally different effects on companies' M&A methods for diverse market positions. The patterns reveal that niche players are more aggressive in leveraging their technology positions to adopt M&As for the purpose of acquiring access to external knowledge resources, while leaders tend to leverage their market positions and use M&On any strengthen their market power. Challengers are a lot of doubtless to engage in M&As when locating in unfavorable environmental markets, but they're less seemingly to have interaction in M&As when locating in technologically crowded areas.

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