Learning to Integrate

Funded Research Proposal

In this project, I plan to study the questions of how firms learn and why they fail to learn in the context of post-merger integration. Existing works on mergers and acquisitions (M&A) argue that M&A is an important source of innovation and growth for firms. Read More

From Invention to Innovation: A Multi-Study Investigation of Firm Strategy and Outcomes in Clinical Trials

Funded Research Proposal

The translation of invention to innovation is a topic that has received significant research attention in recent times. Scholars have recognized that our understanding of the factors that shape whether and when innovative technologies arise and transform industries cannot be complete without comprehending how scientific or technological discovery evolves into commercial adoption. Read More

Make Room! Make Room! A Note on Sequential Spinoffs and Acquisitions

Working Papers

This project considers how merger and acquisition (M&A) activity evolves when companies undertake corporate spinoffs. One of the key roles of the CEOs and top management teams of diversified firms is to manage these companies’ corporate development activities, particularly as the technological landscape shifts.Read More

Will Dell’s Big Leap into the Cloud Pay Off?

After years of making incremental changes to transform itself from a personal computer and server player into a company that could offer a wider array of products and services, Dell is punting its piecemeal approach in favor of a system-wide repositioning of its business by acquiring storage behemoth EMC for $67 billion — the largest M&A deal ever between technology firms.Read More

Cash as a Synthetic R&D Option

Funded Research Proposal

Recent empirical studies document a secular increase in cash holdings by U.S. firms, and document concentrations of cash holdings by firms in R&D intensive industries. This project theoretically and empirically explores a mechanism for which cash may play an especially important role in innovative industries due to the nature of R&D competition and frictions in capital markets.Read More

Entrepreneurial Alliance Patterns: Impact on Subsequent Mergers

Funded Research Proposal

How do entrepreneurial alliances shape new venture merger likelihoods and performance? This research is interested in exploring a knowledge mechanism which can cut both ways: as startups develop portfolios of alliance partners, there may be higher incentives for a given counterparty to try to acquire the startup so that it can mitigate the outflow of knowledge to other firms.Read More

Acqui-Hires: Revolutionizing Strategy & Transforming Organizational Structures

MBA Research Fellowship paper

This paper explores the phenomenon of “acqui-hires”, defined as acquisitions of early-stage startups made purely to acquire talent. Acqui-hires are prevalent among Northern California’s high-technology companies, who use these to fill gaps in their strategic roadmaps. Taking the perspective of an acquirer, we examine the different ways acquirers approach acquir-hires relative to conventional acquisitions.Read More