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Proceedings of the 39th Annual Hawaii International Conference on System Sciences (HICSS'06) Track 8
Kauai, Hawaii
January 04-January 07
ISBN: 0-7695-2507-5
ASCII Text
x 
 
Lucia Silva, Bala Iyer, "Using Software Stacks to Explain Complementarities: The Case of Mergers and Acquisitions in the Software Industry," Hawaii International Conference on System Sciences, vol. 8, pp. 165b, Proceedings of the 39th Annual Hawaii International Conference on System Sciences (HICSS'06) Track 8, 2006.
 
 
BibTex
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@article{ 10.1109/HICSS.2006.527,
author = {Lucia Silva and Bala Iyer},
title = {Using Software Stacks to Explain Complementarities: The Case of Mergers and Acquisitions in the Software Industry},
journal ={Hawaii International Conference on System Sciences},
volume = {8},
year = {2006},
issn = {1530-1605},
pages = {165b},
doi = {http://doi.ieeecomputersociety.org/10.1109/HICSS.2006.527},
publisher = {IEEE Computer Society},
address = {Los Alamitos, CA, USA},
}
 
 
RefWorks Procite/RefMan/Endnote
x 
 
TY - CONF
JO - Hawaii International Conference on System Sciences
TI - Using Software Stacks to Explain Complementarities: The Case of Mergers and Acquisitions in the Software Industry
SN - 1530-1605
SP
EP
A1 - Lucia Silva,
A1 - Bala Iyer,
PY - 2006
KW - null
VL - 8
JA - Hawaii International Conference on System Sciences
ER -
 
Lucia Silva, Boston University
Bala Iyer, Boston University

The existence of product complementarities is especially relevant in network-type industries, such as information technology and communications, where systems of complementary components made by different manufacturers have to be assembled. Relying on the characteristics of software markets, this paper investigates how complementarity creates value in M&As between software companies.

We empirically validate the software "stack". In a sample of Mergers and Acquisitions, in which either the acquirer or the target is a software firm, we find an inverse curvilinear relationship between abnormal returns and the distance between acquirers and targets in various layers of the stack.

Citation:
Lucia Silva, Bala Iyer, "Using Software Stacks to Explain Complementarities: The Case of Mergers and Acquisitions in the Software Industry," hicss, vol. 8, pp.165b, Proceedings of the 39th Annual Hawaii International Conference on System Sciences (HICSS'06) Track 8, 2006
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