External sources of innovative capabilities: the preference for strategic alliances or M&As

G.M. Duysters, J. Hagedoorn*

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review


This paper explores the preferences that companies have as they use alternative (quasi) external sources of innovative competencies such as strategic technology alliances, mergers and acquisitions, or a mix of these. These alternatives are studied in the context of distinct industrial, technological and international settings during the first half of the 1990s. Different strategies followed by companies and the role played by routinized sets of preferences are also taken into consideration. The analysis demonstrates that these options are influenced by both different environmental conditions and firm specific circumstances, such as those related to protecting core businesses.
Original languageEnglish
Pages (from-to)167-188
JournalJournal of Management Studies
Publication statusPublished - 1 Jan 2002

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