20.500.12556/RUL-143839 Does acquisition lead to the growth of high-tech scale-ups? evidence from Europe The post-acquisition growth of high-tech scaleups has received relatively little research attention. This is surprising since buyers are known to target these firms for growth opportunities whilst sellers increasingly seek strategic partners to access resource to scale their ventures. We examine the post-acquisition revenue and employment growth of high-tech scaleups in a multi-country setting, comprising five European economies. Using a propensity-score matching approach and difference-in-differences regression, for a sample of 2187 high-tech scaleups, we demonstrate that acquisition has a positive effect on target firms equivalent to cumulative growth of revenue (employment) of 9–13 (6−10) percent after five (four) years, relative to control firms. We find that nationality matters such that the targets of foreign-owned acquirers exhibit significantly higher cumulative revenue and employment growth than their domestic counterparts. Taking a longer-term perspective, we show that growth dips in the first year, then stabilizes and accelerates in the years following acquisition, indicating a period of adjustment. enterprises company performance acquisitions cross-border acquisitions domestic acquisitions firm growth high-tech scaleups propensity-score matching podjetje poslovanje podjetja pripojitve podjetij true false true Angleški jezik Slovenski jezik Članek v reviji 2023-01-13 11:58:24 2023-01-13 11:58:28 2023-01-15 04:01:30 0000-00-00 00:00:00 2023 0 0 20 str. art. 101820 Vol. 64 Jan. 2023 0000-00-00 Zaloznikova Objavljeno NiDoloceno 0000-00-00 0000-00-00 0000-00-00 005.3 0275-5319 10.1016/j.ribaf.2022.101820 131224067 1-s2.0-S0275531922002069-main.pdf 1-s2.0-S0275531922002069-main.pdf 1 FF88E956ED2B7B239D9804C0351FDB24 72ec857e5ee1f4d9e1ada34d7dd49584ef91964e6a66abd956e57eabbbaca4a7 3b2f9693-9331-11ed-9c94-00155dcfd717 https://repozitorij.uni-lj.si/Dokument.php?lang=slv&id=165852 https://www.sciencedirect.com/science/article/pii/S0275531922002069 0 21b08624-9331-11ed-9c94-00155dcfd717 https://repozitorij.uni-lj.si/Dokument.php?lang=slv&id=165851 Fakulteta za družbene vede Ekonomska fakulteta 0 0 0