Technology Buyout and Merger: A Comparative Analysis

摘要：

In this study, we study the profitability difference between two approaches of technology transfer, technology buyout and merger. We show that the profitability of technology buyout will dominate merger when there is more than one backward firm and the degree of technological asymmetry is beyond a certain critical level; in other cases, the profitability of consolidation will dominate. Finally, we explain why the main approach of technology transfers is technology buyout in the 1980s and 19890s in China, but merger recently.

关键词： Technology Buyout M&As Merger Profitability

作者: QIN Yaolin

作者单位: Beijing Jiaotong University Beijing, China

会议类型: 国际会议

会议名称: The Fifth InternationalSymposium on Management of Technology(ISMOT07)(第五届技术与创新管理国际研讨会)

会议地点: 杭州

会议语种:英文

页码: 996-998

在线出版日期: 2007-06-01（万方平台首次上网日期，不代表论文的发表时间）