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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.

As a result of the impressive wave of mergers and acquisitions (M&As) in recent years, operations that were traditionally considered to be extraordinary have become common business development options. M&As have produced mixed results for their stakeholders, which resulted in extensive economics debate, albeit without a systemic vision. As a result, the M&A literature has not yet developed a paradigm and the purpose of this paper is to present a review of the existing literature.

The authors carried out a review of literature on M&As in technology‐driven sectors.

The critical examination of the innovation and value creation processes in M&As in hightech industry provides new insights for incumbent executives and can better plan and implement M&As deals.

Since 1990 there has been a major expansion of M&As in high‐tech sectors, many involving the acquisition of small and young start‐ups. To address this important topic the authors present here a review of literature on M&As in technology‐driven sectors.

The purpose of this paper is to analyze the phenomenon of mergers and acquisition (M & A) in high-tech sectors with a special focus on biotechnological firms. Recent years have witnessed an impressive wave of M & As, but these operations, despite their popularity, have produced mixed results for their stakeholders and presented no systemic vision.

The paper is descriptive and the result of a secondary data-based research. Methodologically founded on the works of Rossi et al. (2011, 2013) and following an extensive literature review on M & A processes in high-tech sectors, the paper analyzes the dynamics, trends and attributes biotechnological M & As.

The biotechnology sector, over the economically turbulent past few years, faced a distinct difficulty in attracting significant investor capital. Traditional pharmaceutical companies with sufficient cash from their existing sales but facing a dried-out product and patent pipeline have acquired innovative, but cash-poor biotech firms. The findings indicate that the trends in the biotech industry make consolidation in this sector inevitable. For acquiring firms, therefore, it will be necessary to realize a rigorous process of strategic target identification, due diligence and unified post-merger integration as the only way to create a sustainable shareholder value and high firm performance.

The limitations of the paper are a consequence of its very nature, i.e. the fact that it is a descriptive, secondary data-based research. Further, empirical research is therefore necessary to test the findings, to refine the contextual parameters involved and to prescribe target-specific action.

The value of the paper stems from its definition of the link between the biotech industry attributes and M & A activities, consequently offering a valuable theoretical basis for empirical development and practical application, as well as a context for prescribed actions and processes.

The purpose of technology mergers and acquisitions (M&A) is to achieve innovation. The authors use the data from the China Patent Research System of China National Intellectual Property Administration to classify technical correlations into three types: similar, complementary and nonrelatedness (cross-sectoral category). And the authors explore three issues: the market reaction to technology-oriented M&A, the impact of technology-oriented M&A on goodwill and how technology-oriented M&A affects innovation.

The authors use data from China Patent Research System of China National Intellectual Property Administration to classify technical correlations into three types: similar, complementary and nonrelatedness (cross-sectoral category). And the authors explore three issues: the market reaction of technology-oriented M&A, the impact of technology-oriented M&A on goodwill and how technology-oriented M&A affects innovation. The empirical research shows that the cross-sectoral M&A is popular in the market and is positively correlated with cumulative abnormal return (CAR) and premium rate of M&A. However, the technology-similarity M&A, which is committed to in-depth exploration of original technology, is negatively correlated with CAR and goodwill.

The empirical research shows that cross-sectoral M&A is popular in the market and is positively correlated with CAR and premium rate of M&A. However, the technology-similarity M&A, which is committed to in-depth exploration of original technology, is negatively correlated with CAR and goodwill. In addition, empirical results show that there is an inverted U-shaped relationship between technology-oriented M&A and innovation output, and the inflection points are 41.8%, 48.9% and 38.8%, respectively.

The research contributions of this paper are as follows: first, most domestic studies simply and roughly measure the degree of technical relevance based on whether the firms belong to the same industry and whether there is common knowledge between them, but the authors provide a more accurate measure of technology-oriented M&A. Second, in the research on the economic consequences of technology-oriented M&As, a large number of literatures have mainly focused on the innovation performance of the acquirer after deals, including the number of patent applications, the number of patent citations, innovation output, etc., and they pay less attention to its impact on the market reaction and goodwill.

The purpose of this paper is to offer an alternative framework and solution for balancing exploitation–exploration tensions and their management.

A case study method was adopted to uncover what underlies tensions and contradictions between exploitation–exploration that emerge for Chinese manufacturing companies due to the competitive global environment and their latecomer disadvantages when they source new technologies by cross-border mergers and acquisitions. The acquiring firm that acquires two companies is thus not a single but a cross-case study.

The authors present three contradictory points needing to be balanced and according to which three paradoxes emerge: exploitation from a similar knowledge base and innovation from a complementary knowledge base, efficiency and flexibility, as well as profit and breakthroughs. The authors theorize how paradoxical integration helps manage these interwoven tensions. Further, the assimilate-integration-apply (AIA) path suggests a new behavior logic and path choice for Chinese companies when they follow an ambidextrous strategy.

This paper has implications for future research and for companies’ everyday practice on ambidexterity in Chinese society.

The authors combine ambidexterity perspective and AIA path with linkage-leverage-learning (LLL) to offer an alternative framework and solution for balancing exploitation–exploration paradoxes in EE firms’ internationalization to increase LLL’s explanatory power.

The purpose of this paper is to explore the extent to which various theories of capital structure “fit” in the case of new technology‐based firms.

This study uses data from the Kauffman Firm Survey, a longitudinal data set of over 4,000 firms in the USA. Descriptive statistics and multivariate results are provided.

The authors' findings reveal that new technology‐based firms demonstrate different financing patterns than firms that are not technology‐based.

Although some support was found for both the Pecking Order and Life Cycle theories, the results also indicate that technology‐based entrepreneurs are both willing and able to raise substantial amounts of capital from external sources.

Technology‐based entrepreneurs need external sources of equity, in particular, in order to launch and grow their firms.

To the authors' knowledge, this is the first article to test specific theories of capital structure using a large sample of new technology‐based firms in the USA.

This study examines the social and human capital of successful Arab and Jewish technological entrepreneurs in Israel, and explores how human and social capital differ between technology-based industries.

A quantitative study was conducted using a sample of 1,184 technology-based ventures from two technology-based industries—life science (LS) and information technology (IT)—that were founded by Jewish and Arab entrepreneurs.

The results show that in the LS industry, successful Arab entrepreneurs possess higher human and social capital compared with Jewish entrepreneurs. However, in the IT industry, the Jewish entrepreneurs possess higher human and social capital. These findings reflect the deeper entrepreneurial challenges and opportunities regarding ethnic entrepreneurs' ability to break through technology-based industries. Future research directions are provided.

This study makes two contributions to the theoretical understanding of ethnic entrepreneurship and technology-based ventures. First, this study focuses on the impact of human and social capital on economic growth in the context of technological entrepreneurship in technology-based industries, since the ethnic entrepreneurship literature has mainly focused on traditional industries. Second, this study examines the effect of the founders' ethnicity, and explores how human and social capital factors vary across industries due to their specific contextual characteristics.

This article reports the results from a panel discussion held at the 2019 European Conference on Information Systems (ECIS) on the use of technology-based autonomous agents in collaborative work.

The panelists (Drs Izak Benbasat, Paul Benjamin Lowry, Stefan Morana, and Stefan Seidel) presented ideas related to affective and cognitive implications of using autonomous technology-based agents in terms of (1) emotional connection with these agents, (2) decision-making, and (3) knowledge and learning in settings with autonomous agents. These ideas provided the basis for a moderated panel discussion (the moderators were Drs Isabella Seeber and Lena Waizenegger), during which the initial position statements were elaborated on and additional issues were raised.

Through the discussion, a set of additional issues were identified. These issues related to (1) the design of autonomous technology-based agents in terms of human–machine workplace configurations, as well as transparency and explainability, and (2) the unintended consequences of using autonomous technology-based agents in terms of de-evolution of social interaction, prioritization of machine teammates, psychological health, and biased algorithms.

Key issues related to the affective and cognitive implications of using autonomous technology-based agents, design issues, and unintended consequences highlight key contemporary research challenges that allow researchers in this area to leverage compelling questions that can guide further research in this field.

Technology‐based self‐service is growing at a tremendous rate all over the world, but a strong unifying theory to understand this form of service is lacking. Proposes a comprehensive conceptual framework that incorporates several well‐known attitudinal theories to explain the pivotal role of attitudes in influencing intentions and behavior related to technology‐based self‐service. The framework makes it possible to understand and predict better consumer decisions related to using technology‐based self‐service by thoroughly examining underlying consumer attitudes. Uses the Internet to illustrate how our framework can be applied to study consumer behavior related to a specific technology‐based self‐service. Draws on insights from the extant literature on technology‐based self‐service and also incorporates the many unique characteristics of the Internet that have implications for theory. Discusses practical implications of our model for marketers and provides directions for future research on technology‐based self‐service in general and the Internet in particular. With its integrative approach to theory, also contributes to the attitudinal literature.

This study aims to answer the following question: How can customer readiness be instrumental in non-technology-based service delivery?

Using a field study, this research examines the role of customer readiness in customer participation in non-technology-based service delivery and its indirect effects on such customer outcomes as perceived service quality, customer satisfaction and customer willingness to recommend.

The results show that customer readiness is a second-order construct. It has a significant impact on customer participation in service delivery, which in turn impacts three key service outcomes: customer perceived service quality, customer satisfaction and customer willingness to recommend. Four factors influencing customer readiness (consumer previous experience, consumer desire for control, consumer perceived risk and customer organizational socialization) are also empirically evaluated.

Some limitations of the study are related to sample size and use of a type of services. The research tested 13 hypotheses with a limited sample size in one context. A better representation of the population and a more generalizable outcome require more representative samples and studies in various contexts such as banking, hotel services or health care services. This study demonstrated the importance of customer readiness for effective participation in non-technology-based service delivery; it does not address the impact of customer readiness on participation in the context of technology-based services. Future research may also shed light on when and why customers choose technology-based services versus non-technology-based services.

Effective customer participation in service delivery can, and should, benefit from boosting customer readiness.

This research shows the impact of customer readiness on non-technology-based service delivery, more specifically, the impact of customer readiness on customer participation in this type of service delivery. Customer readiness has been found to be beneficial in the provision of technology-based services; yet, its role in the provision of non-technology-based services has not been thoroughly evaluated.