Publication:
Are acquirers different? Identifying firm precursors to acquisitions

Date

2023

Authors

King, David
Shijaku, Elio

Director

Publisher

Emerald
Acceso abierto / Sarbide irekia
ArtĆ­culo / Artikulua
VersiĆ³n publicada / Argitaratu den bertsioa

Project identifier

MĆ©tricas Alternativas

Abstract

Purpose: The authors propose and test a theoretical framework that develops and analyzes precursors to firm acquisitions to determine if acquirers differ from other firms. Design/methodology/approach: The authors use longitudinal, archival data from a sample of the largest firms in the global pharmaceutical industry from 1991 to 2012 with 1,327 firm-year observations. Findings: The authors integrate prior research to show that the firm characteristics involving (1) R&D investment, (2) prior experience and (3) network centrality influence the likelihood that a firm will complete an acquisition. Originality/value: In contrast to research focusing on the performance of acquiring firms, the authors show that firm characteristics predict acquisition activity by highlighting that acquiring firms differ from other firms. The authors also develop how network synergies can be realized by acquirers that have information advantages from more central network positions.

Description

Keywords

Acquisitions, Network centrality, R&D investment

Department

GestiĆ³n de Empresas / Enpresen Kudeaketa / Institute for Advanced Research in Business and Economics - INARBE

Faculty/School

Degree

Doctorate program

item.page.cita

King, D., Shijaku, E., & Urtasun, A. (2023). Are acquirers different? Identifying firm precursors to acquisitions. Journal of Strategy and Management, 16(3), 554-575. https://doi.org/10.1108/JSMA-07-2022-0126

item.page.rights

Ā© David King, Elio Shijaku and Ainhoa Urtasun. This article is published under the Creative Commons Attribution (CC BY 4.0) licence

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