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Journal of the National Research University Higher School of Economics

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SSN 1995-459X print
E-ISSN 2312-9972 online
ISSN 2500-2597 online English

Editor-in-chief
Leonid Gokhberg

   




Elena Ochirova 1, Yury Dranev 1
  • 1 National Research University Higher School of Economics, 20 Myasnitskaya Str., Moscow, 101000, Russian Federation

The Impact of R&D Expenditure upon the Efficiency of M&A Deals with Hi-Tech Companies

2021. Vol. 15. No. 1. P. 31–38 [issue contents]
The motives behind merger and acquisitions (M&A) are often linked with the opportunities to obtain knowledge and technologies in order to enhance the competitive advantages of companies. In particular, the acquisition of digital technologies through mergers and acquisitions with ICT companies is especially relevant. However, the efficiency of such deals is often low and calls into question the implementation of digitalization strategies of companies. In this study we employ an approach for assessing the efficiency of M&A deals with ICT companies by using the DEA method. Applying regression analysis, it was found that the high level of research and development expenses of acquirers can negatively impact the efficiency of the M&A deals with ICT companies.
Citation: Оchirovа Е., Dranev Yu. (2021) The Impact of R&D Expenditure upon the Efficiency of M&A Deals with Hi-Tech Companies. Foresight and STI Governance, 15(1), 31–38. DOI: 10.17323/2500-2597.2021.1.31.38
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