Technological breadth and depth of knowledge in innovation: the role of mergers and acquisitions in biotech

Article

Lodh, S. and Battaggion, M. 2015. Technological breadth and depth of knowledge in innovation: the role of mergers and acquisitions in biotech. Industrial and Corporate Change. 24 (2), pp. 383-415. https://doi.org/10.1093/icc/dtu013
TypeArticle
TitleTechnological breadth and depth of knowledge in innovation: the role of mergers and acquisitions in biotech
AuthorsLodh, S. and Battaggion, M.
Abstract

We analyze the diffusion and integration of external knowledge by distinguishing between the depth and breadth of technological knowledge in combination with the type of partner and channel of exchange. Using a latent variable structural equation model with a sample of 202 US biotechnology firms between 1990 and 2009, we investigate the extent to which the mergers and acquisitions with different partners contribute to the depth and breadth of the focal firm's knowledge base. Our analysis also addresses potential endogeneity issues and shows that acquisitions of related firms mainly increase the depth of knowledge, while acquisitions of unrelated firms develop the breadth of knowledge.

PublisherOxford University Press (OUP)
JournalIndustrial and Corporate Change
ISSN0960-6491
Publication dates
Online06 Jun 2014
Print01 Apr 2015
Publication process dates
Deposited06 May 2015
Output statusPublished
Accepted author manuscript
Copyright Statement

This is a pre-copyedited, author-produced version of an article accepted for publication in Industrial and Corporate Change following peer review. The version of record Suman Lodh, Maria Rosa Battaggion; Technological breadth and depth of knowledge in innovation: the role of mergers and acquisitions in biotech. Ind Corp Change 2015; 24 (2): 383-415. doi: 10.1093/icc/dtu013 is available online at: https://doi.org/10.1093/icc/dtu013 and DOI: 10.1093/icc/dtu013

Digital Object Identifier (DOI)https://doi.org/10.1093/icc/dtu013
LanguageEnglish
Permalink -

https://repository.mdx.ac.uk/item/853y1

Log in to edit

Download files

Accepted author manuscript
Depth_Breadth_M&A_SL_2014.pdf

  • 41
    total views
  • 12
    total downloads
  • 1
    views this month
  • 0
    downloads this month

Export as

Related outputs

Forecasting digital asset return: an application of machine learning model
Ciciretti, V., Pallotta, A., Lodh, S., Senyo, P.K. and Nandy, M. 2024. Forecasting digital asset return: an application of machine learning model. International Journal of Finance & Economics. https://doi.org/10.1002/ijfe.3062
Stemming the tide: Does climate risk affect M&A performance?
Lodh, S., Deshmukh, N. and Rohani, A. 2024. Stemming the tide: Does climate risk affect M&A performance? Business Strategy and the Environment. 33 (2), pp. 858-881. https://doi.org/10.1002/bse.3518
Editorial entrepreneurial finance for green innovative SMEs
Owen, R., Botelho, T., Mac an Bhaird, C., Hussain, J., Pierrakis, Y., Scott, J. and Lodh, S. 2023. Editorial entrepreneurial finance for green innovative SMEs. IEEE Transactions on Engineering Management. 70 (3), pp. 942-949. https://doi.org/10.1109/TEM.2022.3224870
SME Financing for Biodiversity: Building Nature Measurement and Impacts into SME Financing (‘SME FinBio’)
Owen, R., Lyon, F., Burnett, A. and Lodh, S. 2022. SME Financing for Biodiversity: Building Nature Measurement and Impacts into SME Financing (‘SME FinBio’). Natural Environment Research Council (NERC).
Influence of governance bundles and directors' social capital on cash holding in foreign cross-listed firms
Lodh, S., Nandy, M. and Kaur, J. 2023. Influence of governance bundles and directors' social capital on cash holding in foreign cross-listed firms. International Journal of Finance & Economics. 28 (4), pp. 4271-4298. https://doi.org/10.1002/ijfe.2650
Stock co-movement and governance bundles: Does the quality of national governance moderate this relationship?
Egwuonwu, A., Lodh, S. and Nandy, M. 2023. Stock co-movement and governance bundles: Does the quality of national governance moderate this relationship? International Journal of Finance & Economics. 28 (3), pp. 530-2548. https://doi.org/10.1002/ijfe.2548
Exploring external finance to build back better a green UK SME economy
Owen, R., Lodh, S., Anwar, O. and Plekhanov, S. 2022. Exploring external finance to build back better a green UK SME economy. Enterprise Research Centre.
Policy briefing: Exploring external finance to build back better a green UK SME economy
Owen, R., Lodh, S., Anwar, O. and Plekhanov, S. 2022. Policy briefing: Exploring external finance to build back better a green UK SME economy. Enterprise Research Centre.
Corporate accountability towards species extinction protection: insights from ecologically forward-thinking companies
Roberts, L., Nandy, M., Hassan, A., Lodh, S. and Elamer, A. 2022. Corporate accountability towards species extinction protection: insights from ecologically forward-thinking companies. Journal of Business Ethics. 178 (3), pp. 571-595. https://doi.org/10.1007/s10551-021-04800-9
Coupling of cryptocurrency trading with the sustainable environmental goals: is it on the cards?
Mustafa, F., Lodh, S., Nandy, M. and Kumar, V. 2022. Coupling of cryptocurrency trading with the sustainable environmental goals: is it on the cards? Business Strategy and the Environment. 31 (3), pp. 1152-1168. https://doi.org/10.1002/bse.2947
The future of non-financial businesses reporting: learning from the Covid-19 pandemic
Hassan, A., Elamer, A., Lodh, S., Roberts, L. and Nandy, M. 2021. The future of non-financial businesses reporting: learning from the Covid-19 pandemic. Corporate Social Responsibility and Environmental Management. 28 (4), pp. 1231-1240. https://doi.org/10.1002/csr.2145
A reply to the discussion of “How does culture impinge upon managers’ demeanor of earnings management? Evidence from cross-country analysis” [Letter]
Chaney, P., Lodh, S. and Nandy, M. 2021. A reply to the discussion of “How does culture impinge upon managers’ demeanor of earnings management? Evidence from cross-country analysis” [Letter]. The International Journal of Accounting. 56 (02). https://doi.org/10.1142/s109440602180007x
An investigation of UK SME access to finance, growth and productivity, 2015-2017 - ERC Research Paper 79
Owen, R., Botelho, T., Anwar, O., Harrer, T. and Lodh, S. 2019. An investigation of UK SME access to finance, growth and productivity, 2015-2017 - ERC Research Paper 79. Enterprise Research Centre (ERC).
Impact of directors’ networks on corporate social responsibility: a cross country study
Nandy, M., Lodh, S., Kaur, J. and Wang, J. 2020. Impact of directors’ networks on corporate social responsibility: a cross country study. International Review of Financial Analysis. 72, pp. 1-22. https://doi.org/10.1016/j.irfa.2020.101601
Lessons from COVID-19 and a resilience model for higher education
Nandy, M., Lodh, S. and Tang, A. 2020. Lessons from COVID-19 and a resilience model for higher education. Industry and Higher Education. https://doi.org/10.1177/0950422220962696
Does lobbying of firms complement executive networks in determining executive compensation?
Nandy, M., Lodh, S., Wang, J. and Kaur, J. 2021. Does lobbying of firms complement executive networks in determining executive compensation? International Journal of Finance & Economics. 26 (3), pp. 4137-4162. https://doi.org/10.1002/ijfe.2008
The comprehensive environmental management model in post-Covid19 era
Nandy, M., Marocchi, G., Lodh, S. and Corradini, A. 2020. The comprehensive environmental management model in post-Covid19 era. Journal of Business and Management Studies. 1 (1), pp. 1-15.
Post Covid-19 and business analytics
Nandy, M. and Lodh, S. 2020. Post Covid-19 and business analytics. in: Joshi, A., Dey, N. and Santosh, K. (ed.) Intelligent Systems and Methods to Combat Covid-19 Springer Singapore. pp. 83-91
How does culture impinge upon managers' demeanor of earnings management? Evidence from cross-country analysis
Chaney, P., Lodh, S. and Nandy, M. 2021. How does culture impinge upon managers' demeanor of earnings management? Evidence from cross-country analysis. The International Journal of Accounting. 56 (02). https://doi.org/10.1142/S1094406021500098
How has the global financial crisis affected syndicated loan terms in emerging markets? Evidence from China
Caporale, G., Lodh, S. and Nandy, M. 2018. How has the global financial crisis affected syndicated loan terms in emerging markets? Evidence from China. International Journal of Finance & Economics. 23 (4), pp. 478-491. https://doi.org/10.1002/ijfe.1633
Do banks value the eco-friendliness of the firms in their corporate lending decisions? Some empirical evidence
Nandy, M. and Lodh, S. 2012. Do banks value the eco-friendliness of the firms in their corporate lending decisions? Some empirical evidence. International Review of Financial Analysis. 25, pp. 83-93. https://doi.org/10.1016/j.irfa.2012.06.008
Fair value in the professional valuation: concept and models
Artemenkov, A., Lodh, S. and Nandy, M. 2018. Fair value in the professional valuation: concept and models. International Journal of Critical Accounting. 10 (6), pp. 427-446. https://doi.org/10.1504/IJCA.2018.098262
The performance of banks in the MENA region during the global financial crisis
Caporale, G., Lodh, S. and Nandy, M. 2017. The performance of banks in the MENA region during the global financial crisis. Research in International Business and Finance. 42, pp. 583-590. https://doi.org/10.1016/j.ribaf.2017.07.003
Gender inequality and disabled inclusivity in accounting higher education and profession during financial crisis
Lodh, S. and Nandy, M. 2017. Gender inequality and disabled inclusivity in accounting higher education and profession during financial crisis. Industry and Higher Education. 31 (5), pp. 335-347. https://doi.org/10.1177/0950422217725227
The impact of international financial reporting standards adoption on earnings management: evidence from EU countries
Lodh, S. and Nandy, M. 2017. The impact of international financial reporting standards adoption on earnings management: evidence from EU countries. in: Ekanem, I. (ed.) Understanding Bankruptcy: Global Issues, Perspectives and Challenges Nova Science Publishers. pp. 173-194
Accrual-based and real earnings management and political connections
Braam, G., Nandy, M., Weitzel, U. and Lodh, S. 2015. Accrual-based and real earnings management and political connections. The International Journal of Accounting. 50 (2), pp. 111-141. https://doi.org/10.1016/j.intacc.2013.10.009
Innovation and family ownership: empirical evidence from India
Lodh, S., Nandy, M. and Chen, J. 2014. Innovation and family ownership: empirical evidence from India. Corporate Governance: an International Review. 22 (1), pp. 4-23. https://doi.org/10.1111/corg.12034
Do banks value the eco-friendliness of firms in their corporate lending decision? Some empirical evidence
Nandy, M. and Lodh, S. 2012. Do banks value the eco-friendliness of firms in their corporate lending decision? Some empirical evidence. International Review of Financial Analysis. 25, pp. 83-93. https://doi.org/10.1016/j.irfa.2012.06.008