Cross-border Acquisitions and Technological Spillover: Evidence from European Regional Clusters

Relying on the M&A transaction-level dataset and adopting a more region-specific approach with focus industry-region pairs, this paper examines how cross-border acquisitions have an effect, in terms of technological spillover collaboration, European industrial clusters. Adopting industry-regions pairs approach, study is based quantitative analysis 3039 regional clusters belonging to 262 regions 25 patenting industries. Invention performance at cluster level defined throughout two sets different measurements assess impact CBAs invention quantity internal external respectively. Our results reveal that positive significant number patents as well collaborations effect persistent over time. Furthermore, exploring inter-industry registered same region but outside cluster, we found are inclined produce spillovers within no effects other industries region. The attempt empirically explore Therefore, it contributes debate thanks use approach.