In the international research literature, foreign institutional investors have been found to have a positive impact on corporate innovation. Finnish data have shown that the patenting of companies is positively related to being the target of a foreign acquisition. The level of productivity of foreign subsidiaries operating in Finland has been found to be higher than in non-multinational companies. However, studies on the effects of acquisitions have in some places come to contradictory results regarding the effects of foreign acquisitions.
This research project investigates the macroeconomic significance of acquisitions and produces new information on the nature of acquisitions and their effects on innovative companies in Finland. The review analyzes the role of the acquisitions in the development of innovative companies and examines those companies that have received both Business Finland funding and Tesi’s capital injection.
The main research questions of this project are: