Earticle

초록

영어

To tease out dynamics in IT M&A, it is important to study what kinds of acquirer’s characteristics affect post-M&A performance in financial and innovation aspect. Specifically, knowledge transfer is one of the task-level acquisition performance measures. It influences overall acquisition performance both directly and through its effect on other aspects of performance. This study is focusing on the acquirer’s characteristic that promotes knowledge transfer. It is hypothesized that acquirer firm’s prior R&D intensity is positively correlated with their post-M&A firm performance. This can be explained by absorptive capacity concept. Also, R&D intensity is expected to have a different significance for M&A performance depending on whether the acquiring company is an IT company. This is because, the acquiring firm’s learning differs between deals because of dyadic characteristics between the acquiring and acquired firm. Data on IT M&A deals in which a target firm’s primary standard industry code(SIC) is matched to 737, 357 and occurred in South Korea between 2000/1/1 ~ 2016/12/31 were collected from SDC Platinum Mergers and Acquisitions Database. Based on econometric modeling, OLS simple linear regression analyses were followed.

목차

Abstract
Introduction
Literature Review
M&A, IS, and Knowledge-Based View
M&A performances and Knowledge Transfer
Absorptive Capacity
Hypotheses
Method
Empirical Approach
Results
Conclusion and Implication
References

저자

• Soyeon Kim [ Yonsei University ]
• Ho Geun Lee [ Yonsei University ]

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