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首页> 外文期刊>Journal of evolutionary economics >To acquire or not to acquire: the effects of acquisitions in the software industry
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To acquire or not to acquire: the effects of acquisitions in the software industry

机译:获取或不收购:收购在软件行业的影响

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摘要

The aim of this paper is to analyze, over the period 1999 to 2014, the impact of acquisitions on firm growth for software firms located in Catalonia. We investigate firms that targeted, or are themselves the target of, an acquisition. Applying a matching procedure, we obtain a database of more than 800 firms. Estimates from a fixed effects quantile model show that the effects of acquisitions are heterogeneous-the acquired companies increase their productivity growth, while the acquiring companies significantly increase their sales growth. Among the high-growth firms, the acquiring firms have a 60.8% higher sales growth rate than the control group. The impact of acquisitions is greatest in the upper percentiles of the conditional growth distribution.
机译:本文的目的是分析1999年至2014年,收购对位于加泰罗尼亚的软件公司的公司增长的影响。我们调查有针对性的公司,或者自己是一个收购的目标。应用匹配程序,我们获得超过800家公司的数据库。固定效果的估计量化模型表明,收购的影响是异构的 - 所获得的公司提高其生产力增长,而收购公司显着提高销售增长。在高增长公司中,收购公司的销售增长率比对照组更高的60.8%。收购的影响在条件生长分布的上百分百分比中最大。

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