Utilize este identificador para referenciar este registo: http://hdl.handle.net/10362/15463
Título: Post-merger innovative performance in the renewable energy sector
Autor: Koester, Julia
Orientador: Hagedoorn, J.
Pinho, Paulo
Data de Defesa: Jan-2015
Resumo: Due to global warming and shrinking fossil fuel resources, politics as well as society urge for a reduction of green house gas (GHG) emissions. This leads to a re-orientation towards a renewable energy sector. In this context, innovation and new technologies are key success factors. Moreover, the renewable energy sector has entered a consolidation stage, where corporate investors and mergers and acquisitions (M&A) gain in importance. Although both M&A and innovation in the renewable energy sector are important corporate strategies, the link between those two aspects has not been examined before. The present thesis examines the research question how M&A influence the acquirer’s post-merger innovative performance in the renewable energy sector. Based on a framework of relevant literature, three hypotheses are defined. First, the relation between non-technology oriented M&A and post-merger innovative performance is discussed. Second, the impact of absolute acquired knowledge on postmerger innovativeness is examined. Third, the target-acquirer relatedness is discussed. A panel data set of 117 firms collected over a period of six years has been analyzed via a random effects negative binomial regression model and a time lag of one year. The results support a non-significant, negative impact of non-technology M&A on postmerger innovative performance. The applied model did not support a positive and significant impact of absolute acquired knowledge on post-merger innovative performance. Lastly, the results suggest a reverse relation than postulated by Hypothesis 3. Targets from the same industry significantly and negatively influence the acquirers’ innovativeness.
URI: http://hdl.handle.net/10362/15463
Designação: A Work Project, presented as part of the requirements for the Award of a Masters Double Degree in Management from the NOVA – School of Business and Economics and Maastricht University Faculty of Economics and Business Administration
Aparece nas colecções:NSBE: Nova SBE - MA Dissertations

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