Motivation to Mergers and Acquisitions of High Technology Firms: Grounded in Integration Theory of Resources and Capabilities

摘要

Grounded on integration theory of resources and capabilities, this paper explains three kinds of mergers and acquisitions (M&A): horizontal mergers, vertical mergers, and mixed mergers and acquisitions. The motivation behind mergers and acquisitions is that companies expect to create value for business through the integration of resources and capabilities. Implications on this new motivations to M & A to firms are that they should consider how to realize resources and capabilities of themselves and analyze the target firm before they accomplish mergers and acquisitions in order to gain advantage by integrating resources and capabilities of target firms after mergers and acquisitions.