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Cited by 869

The DOI matches its Crossref record; 71 of the 71 references it cites were found in a registry or an index.

Corporate Innovations and Mergers and Acquisitions

BENA, JAN, LI, KAI·2014·The Journal of Finance
DOI 10.1111/jofi.12059
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Abstract

Using a large and unique patent‐merger data set over the period 1984 to 2006, we show that companies with large patent portfolios and low R&D expenses are acquirers, while companies with high R&D expenses and slow growth in patent output are targets. Further, technological overlap between firm pairs has a positive effect on transaction incidence, and this effect is reduced for firm pairs that overlap in product markets. We also show that acquirers with prior technological linkage to their target firms produce more patents afterwards. We conclude that synergies obtained from combining innovation capabilities are important drivers of acquisitions.

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Registry

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Metadata

Authors
BENA, J., & LI, K.
Venue
The Journal of Finance
Publisher
Wiley
Published
2014-09-12
Volume
69
Issue
5
Pages
1923-1960
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/jofi.12059
OpenAlex
W2735554529
Cited by
869
References
71
FWCI
138.00
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Corporate Innovations and Mergers and Acquisitions. https://app.cochat.ai/papers/10.1111/jofi.12059
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BENA, J., & LI, K. (2014). Corporate Innovations and Mergers and Acquisitions. The Journal of Finance. https://doi.org/10.1111/jofi.12059

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.