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UID:1542ef3a689aadeba9695329f0cb1f9c
CATEGORIES:Seminars
CREATED:20260729T124627
SUMMARY:Arnaud Dyevre - HEC Paris
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nThe Impact of Acquisitions on Innovation\n\n\nAbstract:\nHow do acquisi
 tions affect the creation and diffusion of knowledge? We develop a new data
 set linking US patents to publicly listed firms and their subsidiaries. It 
 combines patent records from 1926–2023 with dynamic ownership histories spa
 nning 1950–2023. All sectors of the American economy over seven decade
 s are covered. This allows us to follow inventions across changes in corpor
 ate control and distinguish new invention from transfers of existing patent
 s. Using event studies and matched difference-in-differences specifications
 , we examine how acquisitions affect the quantity, technological impact and
  direction of innovation. Our results suggest that, contrary to prior analy
 ses on sub-sectors or specific time periods, acquisitions can increase the 
 aggregate quantity and quality of innovation.\n
DTSTAMP:20261013T213255Z
DTSTART:20261019T163000Z
DTEND:20261019T180000Z
SEQUENCE:0
TRANSP:OPAQUE
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