Dessyllas, Panayotis (contributor); Hughes, Alan (contributor) - 2005
proxy for
R&D output; the stock of citation-weighted patents as a proxy for the
accumulated stock of knowledge generated … acquire new knowledge-related assets
through acquisitions is driven by declining returns from the exploitation of a
firm …’s existing knowledge base. Second, we find evidence in favour of the
make-or-buy theory that acquisitions are a substitute for …