Article
Knowledge Resources, Spinouts and Exit through Acquisitions
Academy of Management Proceedings
(2017)
Abstract
Research suggests that successful acquisitions begin with the selection of the ‘right’ target firm. Our study offers new insights for the literature on acquisitions by focusing on spinouts as a unique subset of target firms. Spinouts have increasingly been identified as attractive targets for acquisitions in high technology industries where the pace of innovation and new product development often involves large and highly uncertain investments. Spinouts are recognized for their unique resources that distinguish them from established firms and other new entrants into industries. This study adopts a resource perspective to examine the impact of the knowledge heritage and product strategies of spinouts from different knowledge contexts on the their potential to be acquired by firms in both the focal industry and downstream industries. Overall, our findings support our proposition that the knowledge heritage of spinout ventures represents an important resource that affects evaluations concerning acquisitions.
Publication Date
August 1, 2017
DOI
10.5465/AMBPP.2017.11298abstract
Citation Information
Pamela Adams, Roberto Fontana and Franco Malerba. "Knowledge Resources, Spinouts and Exit through Acquisitions" Academy of Management Proceedings Vol. 2017 Iss. 1 (2017) p. 11298 ISSN: 2151-6561 Available at: http://works.bepress.com/pamela1-adams/18/