A large literature considers the interplay between mergers and acquisitions (M&A) by multinationals and innovation …, typically measured as patents. One theme that emerges is that technological similarity plays a role in which M&As occur. The … technological classifications of their patents. The first is a coarse measure of business activity and overlooks supply chains. The …

comprehensive firm-level panel data of German multinationals, we investigate how changes in a host country’s patent protection … the ownership structure, we find that multinationals take into account the risk of intellectual property infringements and …