Dynamics of R&D networked relationships and mergers and acquisitions in the smart card field |
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| Authors: | Zouhaïer M&#x;Chirgui |
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| Institution: | aEuromed Management, Domaine de Luminy BP921, 13288 Marseille Cedex 9, France;bGREQAM, University of the Mediterranean, 2, rue de la Charité, 13236 Marseille Cedex 02, France |
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| Abstract: | This paper analyzes how the structure and the evolution of inter-firm agreements have shaped the development of the smart card industry. The aim is to establish a closer connection between the evolution of inter-firm agreements in the smart card industry and the patterns of change of technology and demand in this new high-tech industry. Based on a proprietary database covering both collaborative agreements and mergers and acquisitions (M&As) occurring in this industry over the period 1992–2006, we find that the evolution of technology and market demand shapes the dynamics of R&D networks and M&As are likely to change the industry structure. We also find that a small group of producers – first-movers – still control the industry and technological trajectories. Their position arises not for oligopolistic reasons of market structure, but for technological and organizational reasons. |
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| Keywords: | Inter-firm R& D agreements Mergers and acquisitions Networked oligopoly Smart card industry Dual market structure |
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