The Impact of R&D Expenditure upon the Efficiency of M&A Deals with Hi-Tech Companies
The motives behind merger and acquisitions (M&A) are often linked with the opportunities to obtain knowledge and technologies in order to enhance the competitive advantages of companies. In particular, the acquisition of digital technologies through mergers and acquisitions with ICT companies i...
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| Format: | Article |
| Language: | English |
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National Research University Higher School of Economics
2021-03-01
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| Series: | Foresight and STI Governance |
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| Online Access: | https://foresight-journal.hse.ru/article/view/19313 |
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| _version_ | 1850214884276436992 |
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| author | Elena Ochirova Yury Dranev |
| author_facet | Elena Ochirova Yury Dranev |
| author_sort | Elena Ochirova |
| collection | DOAJ |
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The motives behind merger and acquisitions (M&A) are often linked with the opportunities to obtain knowledge and technologies in order to enhance the competitive advantages of companies. In particular, the acquisition of digital technologies through mergers and acquisitions with ICT companies is especially relevant. However, the efficiency of such deals is often low and calls into question the implementation of digitalization strategies of companies. In this study we employ an approach for assessing the efficiency of M&A deals with ICT companies by using the DEA method. Applying regression analysis, it was found that the high level of research and development expenses of acquirers can negatively impact the efficiency of the M&A deals with ICT companies.
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| format | Article |
| id | doaj-art-eb8f7c23259a47ad98f53c9eaa77a622 |
| institution | OA Journals |
| issn | 2500-2597 |
| language | English |
| publishDate | 2021-03-01 |
| publisher | National Research University Higher School of Economics |
| record_format | Article |
| series | Foresight and STI Governance |
| spelling | doaj-art-eb8f7c23259a47ad98f53c9eaa77a6222025-08-20T02:08:46ZengNational Research University Higher School of EconomicsForesight and STI Governance2500-25972021-03-0115110.17323/2500-2597.2021.1.31.38The Impact of R&D Expenditure upon the Efficiency of M&A Deals with Hi-Tech CompaniesElena Ochirova0Yury Dranev1HSE UniversityHSE University The motives behind merger and acquisitions (M&A) are often linked with the opportunities to obtain knowledge and technologies in order to enhance the competitive advantages of companies. In particular, the acquisition of digital technologies through mergers and acquisitions with ICT companies is especially relevant. However, the efficiency of such deals is often low and calls into question the implementation of digitalization strategies of companies. In this study we employ an approach for assessing the efficiency of M&A deals with ICT companies by using the DEA method. Applying regression analysis, it was found that the high level of research and development expenses of acquirers can negatively impact the efficiency of the M&A deals with ICT companies. https://foresight-journal.hse.ru/article/view/19313research and development (R&D)digital technologiesICT sectormergers and acquisitions (M&A)gross domestic expenditure on R&DDEA |
| spellingShingle | Elena Ochirova Yury Dranev The Impact of R&D Expenditure upon the Efficiency of M&A Deals with Hi-Tech Companies Foresight and STI Governance research and development (R&D) digital technologies ICT sector mergers and acquisitions (M&A) gross domestic expenditure on R&D DEA |
| title | The Impact of R&D Expenditure upon the Efficiency of M&A Deals with Hi-Tech Companies |
| title_full | The Impact of R&D Expenditure upon the Efficiency of M&A Deals with Hi-Tech Companies |
| title_fullStr | The Impact of R&D Expenditure upon the Efficiency of M&A Deals with Hi-Tech Companies |
| title_full_unstemmed | The Impact of R&D Expenditure upon the Efficiency of M&A Deals with Hi-Tech Companies |
| title_short | The Impact of R&D Expenditure upon the Efficiency of M&A Deals with Hi-Tech Companies |
| title_sort | impact of r d expenditure upon the efficiency of m a deals with hi tech companies |
| topic | research and development (R&D) digital technologies ICT sector mergers and acquisitions (M&A) gross domestic expenditure on R&D DEA |
| url | https://foresight-journal.hse.ru/article/view/19313 |
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