Purpose

This paper aims to investigate how alliances and acquisitions matter for the adaptation of firms facing industry convergence. Building on the disruptive innovation perspective, this study theorizes that during industry convergence, as firms' inter-industry alliance (acquisition) experience increases, those that have more intra-industry alliance (acquisition) experience will exhibit higher survival chances than those that do not.

Design/methodology/approach

A longitudinal panel data set of 147 firms' alliances, acquisitions and exit data was constructed in the context of convergence between the US telecommunications equipment and computer networking industries from 1989 to 2003. The survival analysis method was used to test hypotheses. Firms' patent and product-market portfolio data reveal a steady rise in the extent of convergence between the two industries within the period of the study.

Findings

The results suggest that both hypotheses gain support, having only inter-industry alliance experience negatively affects firm survival and the survival-enhancing impact of combined inter- and intra-industry acquisition experience is weaker than the impact of combined inter- and intra-industry alliance experience.

Originality/value

This paper contributes to the industry convergence literature and disruptive innovation research by furnishing evidence that the combination of inter- and intra-industry alliance (acquisition) experience can be a valuable source of survival-enhancing benefits during industry convergence that has pernicious influences on firms.

中文翻译：

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渡过行业融合风暴：联盟和收购经验对企业生存有何影响？

目的

本文旨在研究联盟和收购对面临行业融合的公司的适应有何影响。基于颠覆性创新的观点，本研究认为，在产业融合过程中，随着企业跨行业联盟（收购）经验的增加，具有更多行业联盟（收购）经验的企业将比没有企业的企业表现出更高的生存机会。 .

设计/方法/方法

在1989年至2003年美国电信设备和计算机网络行业趋同的背景下，构建了147家公司的联盟、收购和退出数据的纵向面板数据集。使用生存分析方法来检验假设。公司的专利和产品市场组合数据显示，在研究期间，这两个行业之间的趋同程度稳步上升。

发现

结果表明，这两种假设都获得了支持，只有跨行业联盟的经验会对企业生存产生负面影响，并且跨行业和跨行业收购经验的生存增强影响弱于跨行业和跨行业联盟的影响。经验。

原创性/价值

本文通过提供证据证明行业间和行业内联盟（收购）经验的结合可以成为行业融合过程中对企业产生有害影响的生存增强收益的宝贵来源，从而为行业融合文献和颠覆性创新研究做出了贡献。