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The link between mergers and acquisitions and innovation: A systematic literature review

Luca Dezi (Università degli Studi di Napoli Parthenope, Napoli, Italy)
Enrico Battisti (Department of Management, Università degli Studi di Torino, Torino, Italy)
Alberto Ferraris (Department of Management, Università degli Studi di Torino, Torino, Italy, and Graduate School of Economics and Management, Ural Federal University, Ekaterinburg, Russia)
Armando Papa (Department of International Business Administration, Link Campus University, Roma, Italy, and Department of Informatics, Università degli Studi di Torino, Torino, Italy)

Management Research Review

ISSN: 2040-8269

Article publication date: 20 March 2018

Issue publication date: 5 June 2018

5302

Abstract

Purpose

The link between mergers and acquisitions (M&A) and innovation has been analysed in both corporate finance studies and the innovation literature. Despite this attention and the practical evidence that highlights different connections between these two terms, there is a need to investigate the latest trends with regard to these important topics, and to put a particular focus on the emerging paradigm of open innovation. Thus, this paper aims to provide a systematic literature review (SLR) about the relationship between M&As and the concept of innovation in the current scenario.

Design/methodology/approach

Through an SLR from 2012 to June 2017, 55 papers have been identified and analysed to give a better understanding of the motivations and the methodologies adopted in past studies.

Findings

This paper identifies various conceptual and research methodological characteristics of studies that have connected, directly or indirectly, M&As and innovation in recent years. In addition, the results highlight a scarcity of studies that explicitly or implicitly refer to the open innovation paradigm, marking only a partial understanding of this emerging phenomenon.

Originality/value

This paper improves the knowledge on the link between extraordinary corporate transactions and innovation, and it highlights that a clear consensus, particularly regarding the open innovation paradigm, is lacking. Thus the authors propose that future studies should carefully evaluate M&As by following the open innovation approach.

Keywords

Citation

Dezi, L., Battisti, E., Ferraris, A. and Papa, A. (2018), "The link between mergers and acquisitions and innovation: A systematic literature review", Management Research Review, Vol. 41 No. 6, pp. 716-752. https://doi.org/10.1108/MRR-07-2017-0213

Publisher

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Emerald Publishing Limited

Copyright © 2018, Emerald Publishing Limited

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