TY  - JOUR
AB  - Purpose The acquisition of knowledge through mergers and acquisition (M&A) may not create value—usually because the knowledge may not be transferred, or transferred but not integrated. The purpose of this paper to develop and test a theoretical model of knowledge and performance in the M&A process.Design/methodology/approach Theory, model and case analysis.Findings The literature review led us to distinguish between three main categories of knowledge along the different stages of the M&A process: acquired knowledge in the pre-merger stage; and transferred knowledge and integrated knowledge in the post-merger stage. The application of the model is illustrated in a case study of technology M&A, which includes data collected from annual reports before and after the merger.Research limitations/implications The model recommends acknowledging the differences between the acquired knowledge, transferred knowledge and integrated knowledge when examining the relationship between knowledge and performance in M&As. In addition, the model suggests considering several factors that influence future knowledge integration in the pre-merger stage. Ignoring the three categories and the factors may be the reason for the reports of previous studied stating that the acquisition of knowledge-based resources is associated with negative announcement returns to the acquiring firm.Originality/value The paper presents new procedures to measure knowledge, collecting data on R&D employees by using annual reports. In addition, the paper suggests adding “in-process R&D” as an “Acquired Knowledge” measure.
VL  - 11
IS  - 3
SN  - 1755-425X
DO  - 10.1108/JSMA-07-2017-0049
UR  - https://doi.org/10.1108/JSMA-07-2017-0049
AU  - Calipha Rachel
AU  - Brock David M.
AU  - Rosenfeld Ahron
AU  - Dvir Dov
PY  - 2018
Y1  - 2018/01/01
TI  - Acquired, transferred and integrated knowledge: a study of M&A knowledge performance
T2  - Journal of Strategy and Management
PB  - Emerald Publishing Limited
SP  - 282
EP  - 305
Y2  - 2024/04/25
ER  -