Date of Award

1-1-2018

Language

English

Document Type

Dissertation

Degree Name

Doctor of Philosophy (PhD)

College/School/Department

Department of Economics

Content Description

1 online resource (ii, ix, 90 pages) : illustrations (some color)

Dissertation/Thesis Chair

Gerald R Marschke

Committee Members

Chun-Yu Ho, Pinka Chatterji

Keywords

Innovation, Merger, Technology Similarity, Two-Sided Matching, Consolidation and merger of corporations, Technological innovations

Subject Categories

Economics

Abstract

This dissertation focuses mainly on drivers of merger partner choice and effects on post-merger outcomes. In the first chapter, we examine the role of technology and product market similarities in value creation in mergers. Estimating a structural model of two-sided matching between acquirers and targets with transferable utility, we find that mergers between firms with similar technologies and product markets create values. In other words, firms prefer to choose other firms with similar technologies and product markets as their merger partner. We also find that mergers between firms with similar technologies create value through the channel of increasing innovation quantity and quality, originality and patenting risk after the merger.

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Economics Commons

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