主讲人：李凯（英属哥伦比亚大学）

讲座摘要：Using a large and unique patent-merger data set over the period 1984 to 2006, we show that companies with large patent portfolios and low R&D expenses are acquirers, while companies with high R&D expenses and slow growth in patent output are targets. Further, technological overlap between firm pairs has a positive effect on transaction incidence, and this effect is reduced for firm pairs that overlap in product markets. We also show that acquirers with prior technological linkage to their target firms produce more patents afterwards. We conclude that synergies obtained from combining innovation capabilities are important drivers of acquisitions.

时间：12月7日（星期二），早上10:00-11:30

线上会议：腾讯会议（会议号：708 809 220）

主讲人简介：李凯教授是加拿大英属哥伦比亚大学尚德商学院讲席教授，Journal of Financial and Quantitative Analysis、Review of Financial Studies、Journal of Corporate Finance、Journal of Financial Stability、Review of Finance、Journal of Banking and Finance、Financial Management等杂志的副主编。近年来她在Journal of Finance，Journal of Corporate Finance，Journal of Financial and Quantitative Analysis等国际知名学术期刊上发表了多篇论文，并在众多国际会议上获得最佳论文奖等奖项。

主办：中国互联网经济研究院

此次讲座获得北京高等学校卓越青年科学家计划资助（BJJWZYJH01201910034034），特此致谢。