Innovation Driven Acquisitions of High-tech Ventures: New Insights from the Incentive and Competence Perspectives

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• Prof Massimo Colombo - Politecnico di Milano
• Monday 09 March 2009, 12:00-14:00
• Judge Business School W2.02.

If you have a question about this talk, please contact Maggie McLaughlin.

In this paper we consider the innovation impact of the acquisition of a high-tech start-up. In accordance with the extant acquisition literature, we claim that post-acquisition innovation performance closely depends on post-acquisition reorganization. This reorganization involves both structural and non-structural (i.e. behavioral) aspects. In particular, we focus on the delegation of decision authority to the acquired key inventors or its centralization within the acquiring firm. We develop a theoretical model that combines insights offered by the incentive and competence-based perspectives. The model leads to testable predictions relating to the influence on delegation of decision authority of the explorative or exploitative motives of the acquisition, the technological relatedness between the acquiring and acquired firms, the establishment of prior alliances between them, and the prior acquisition experience of the acquirer. It posits that while the motives of the acquisition have a direct effect on delegation, the effects of the remaining variables is moderated by the type of acquisition, be it explorative or exploitative.

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