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dc.contributor.advisorFarboodi, Maryam-
dc.contributor.authorKuenne, Peter-
dc.description.abstractThis paper expands on the framework of the M&A literature on firm knowledge bases to include indicators of both innovative and economic performance. Using a Poisson regression analysis on a dataset of high-tech M&As, the effects of the absolute size of an acquired knowledge base, the relative size of the acquired knowledge base, and the level of knowledge similarity are studied against a set of performance measures including innovation output, return on assets, and stock returns. The results suggest that the size of the acquired knowledge base has a positive effect on innovative output and a potential negative effect on long term returns. The relative size of the acquired knowledge base has a negative effect on innovation output and an insignificant effect on both economic indicators. The level of knowledge similarity has a positive effect on innovation output but a negative effect on short term returns. Taken together, the re- sults suggest while the acquired knowledge has a positive effect on innovation output, it has an insignificant or in some cases negative impact on economic performanceen_US
dc.titleM&A Knowledge Base Effectsen_US
dc.typePrinceton University Senior Theses-
pu.certificateFinance Programen_US
Appears in Collections:Economics, 1927-2020

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