Searching for the gem: The influence of target knowledge distinctiveness on acquisition likelihood and premium


Brauer, Matthias ; Hoisl, Karin ; Jerusalem, Martin



Document Type: Conference presentation
Year of publication: 2021
Conference title: SMS 41st Annual Conference
Location of the conference venue: Online
Date of the conference: 18.-21.09.2021
Related URLs:
Publication language: English
Institution: Business School > Strategisches u. Internat. Management (Brauer 2014-)
Subject: 330 Economics
Abstract: Prior target selection research has generated valuable insights into how acquirer-target similarity positively influences acquisition likelihood and success. In this study, we go beyond this dyadic perspective. We examine how the distinctiveness of a firm’s knowledge portfolio vis-à-vis its industry peers influences acquisition likelihood and premium. Though the acquisition of firms with a distinct knowledge portfolio is associated with significantly greater valuation and integration risks, we argue and find that a distinctive knowledge portfolio significantly increases the probability of a firm to become an acquisition target and the acquisition premia paid in these deals. Our findings advance extant theorizing on target selection and on the question of optimal distinctiveness.




Metadata export


Citation


+ Search Authors in

+ Page Views

Hits per month over past year

Detailed information



You have found an error? Please let us know about your desired correction here: E-Mail


Actions (login required)

Show item Show item