Copenhagen Business School

About: Copenhagen Business School is a education organization based out in Copenhagen, Hovedstaden, Denmark. It is known for research contribution in the topics: Corporate governance & Entrepreneurship. The organization has 2194 authors who have published 9649 publications receiving 341898 citations.

Resource complementarity and value capture in firm acquisitions: The role of intellectual property rights

Abstract: Extant literature holds that firm acquisitions create value through innovation if the knowledge bases of the acquirer and the target complement each other. Little is known about the value that patents associated with a target's knowledge convey to the acquirer, i.e., their value in securing market exclusion and freedom to operate in R&D. We argue that such property rights hold preemptive power allowing firms to capture the value from combining complementary technologies and to realize gains from trade in strategic factor markets. Our results for a sample of 1,428 acquisitions indicate that-controlling for technological value-acquired preemptive power is an important determinant of the acquisition price, particularly when the acquirer is technology intensive and acquired patents are highly related to the acquirer's knowledge base. Copyright (C) 2013 John Wiley & Sons, Ltd. (Less)

Misfits, mavericks and mainstreams: : Drivers of innovation in the creative industries

Abstract: Creative industries are among the fastest-growing and most important sectors of European and North American economies. Their growth depends on continuous innovation, which is important in many industries and also challenging to manage because of inherent tensions. Creative industries, similar to many industries, depend not only on novelty to attract consumers, but also on familiarity to aid comprehension and stabilize demand for cultural products. Agents in the creative industries play with these tensions, generating novelty that shifts industries’ labels and boundaries. This tension and agency makes them a valuable setting for advancing theoretical ideas on who drives innovation, from mavericks that challenge conventions to mainstreams that build upon them. We trace this history and then turn to the five papers in the special issue, which examine in depth how mavericks, misfits, mainstreams and amphibians in various creative domains, from artistic perfumery to choreography, engage with innovation and add...