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We address the following research questions: (1) Is the innovation trajectory of the acquirer affected by previous acquisitions? (2) In which direction knowledge recombination from the acquisition is pushed further? (3) Is the technological acquisition more a means for knowledge exploration and radical innovation or, on the contrary, a way for consolidating previous technological specialization?

The nature of this study is exploratory; therefore, we opted for an inductive approach based on the L'Oréal case study analysis. Data were triangulated from different sources: (a) the L'Oréal website and press releases collected in the 2009–2015 period; (b) journal articles and books on the global cosmetics industry and the insightful work of Jones (2010); (c) the Questel Orbit database containing data on patents; and (d) the Zephyr – Bureau van Dijk database containing information on the acquisitions of firms.

Empirical evidence from a patent data analysis reveals a paradoxical path. On the one hand, acquisitions enable the company to explore new technological spaces; on the other hand, they allow it to reinforce a preexisting technological trajectory, even when the knowledge base of the target is distant from that of the acquirer. Thus, in our case study, the absorption and recombination of knowledge from a variety of domains support specialization more than diversification technology strategies.

We add to innovation management literature a new perspective, by offering a detailed analysis, through patent data, of the knowledge recombination process, led by technological acquisitions.

Relying on mergers and acquisition transaction-level data set and adopting a more region-specific approach with a focus on industry-region pairs, this paper aims to examine how cross-border acquisitions (CBAs) have an effect, in terms of technological spillover and collaboration, on European regional clusters.

Adopting an industry-region pair approach, this study is based on a quantitative analysis of regional clusters belonging to 262 European regions and 25 patenting industries. Different thresholds of industrial specialization are used to identify clustering industries within a region. Invention performance at the regional cluster level is defined through two sets of different measurements to assess the impact of CBAs on invention quantity performance and internal and external technological collaboration.

The results reveal that CBAs have a positive and significant impact on the number of patents as well as the number of internal and external technological collaborations and that this effect is persistent over time. Furthermore, through exploring the interindustry technological spillover effect of CBAs registered in the same region of a cluster but outside the cluster itself, the authors found that CBAs in a regional cluster are inclined to produce technological spillovers within the cluster but no significant effects in the other industries of the region.

This paper is an attempt to empirically explore CBAs and technological spillover in European regional clusters. Therefore, it contributes to the debate, thanks to the use of an industry-region pair approach.

This paper aims to investigate the rise of a Chinese fashion cluster in Lombardy.

Three approaches and descending levels of analysis are integrated: a quantitative analysis based on demographic data to highlight the evolution of the regional distribution of the Chinese community and Chinese entrepreneurship in Lombardy; a literature review to reconstruct the historical development of Chinatown in Milan; and few in-depth interviews and a survey to represent how the Chinese living in Chinatown perceive the changing role of the enclave.

The Chinese in Lombardy are rising as a regional ethnic fashion cluster. This cluster is rising out of three major drivers: ethnic social capital as a source of community-based entrepreneurship; the crisis of traditional industrial districts in the 1990s as a trigger opportunity; and the trans-regionalization of the fashion industry as a main driver of its current development. The rise of this cluster is bottom-up.

The findings are based on a single case study. There are evidences showing that the Chinese are rising as regional and/or inter-regional clusters in other institutional settings. However, this study may benefit from comparisons with other institutional and national contexts.

Chinese entrepreneurship may foster regional growth as a complementary source of cultural variety, internationalization and multi-regional co-specialization.

Entrepreneurship may foster social cohesion and collaboration.

This paper contributes to existing literature by proposing a would-be theory of the evolution of regional ethnic clusters.

To counter the proliferation of out-of-town shopping centres, a spontaneous or planned coalition loyalty programme (CLP), one involving most retailers in an urban network, may positively affect a town centre's capacity to entice customers and may enhance its competitiveness. The purpose of this paper is to assess the effectiveness of CLP implementation in town-centre management (TCM) as a tool for enhancing urban commercial-system attractiveness.

The theoretical framework used in this study is supported by the evaluation methodologies of an empirical case study: the Savigliano Card project. CLP performance analysis uses a dynamic network-competitiveness index, an approach based on Laspeyres-type decomposition. The effects on each retailer's profitability are then tested by matching network and regression analyses.

The results suggest that CLPs implementation in a TCM scheme can produce benefits and positive externalities for customers, retailers and urban areas. CLPs can influence a town centre's revitalisation process, improve the attractiveness of the urban commercial network and increase the profitability of private retailers by enhancing cross-selling dynamics.

The paper provides a CLP performance-evaluation methodology and presents the benefits concerning CLP implementation in TCM strategies.

This type of CLP is weakly exploited in marketing theory and practice; therefore, the paper provides theoretical and empirical explanations for the measurement of CLP effectiveness in TCM. In addition, it has significant implications for both practitioners and academics.

The purpose of this paper is to investigate the combined effect of Mergers and Acquisitions (M & A) partners’ technological relatedness and the acquirer’s effective utilization of the target’s knowledge on explorative and exploitative invention performance post-M & A.

Based on the knowledge perspective of an M & A, this study measures how much of the target’s knowledge acquired in an M & A has been effectively transformed into new knowledge. A negative binomial regression on a cross-sectional data set of 152 bio-pharmaceutical firms (59 European firms and 93 North American firms) completing at least one M & A in the period between 2001 and 2005 is conducted. The effect of knowledge utilization is assessed by comparing performance six years before the M & A and six years after.

The effective assimilation and utilization of acquired knowledge positively affects both acquirers’ explorative and exploitative performance post-M & As. The combined effect with technological relatedness, measured as similarity and complementarity, further enhances the acquirer’s technological performance. However, while the utilization of similar knowledge significantly affects only exploitative invention performance, the utilization of complementary knowledge influences both, although explorative more than exploitative performance.

The acquirer’s ability to effectively use the target’s knowledge is crucial in order to support the transformation of the inventive potential, such as is embodied in the interaction between an internal and an external base of knowledge, into new explorative and exploitative performance.