ABSTRACT
However, DTI seem to affect positively and significantly the export intensity for the full sample only. It is negatively affecting the export intensity of M&A firms. It is expected that M&A firms acquiring abroad also acquire tacit knowledge as well as R&D and production capabilities of the target firms. Such firms by reaping the benefits of synergies can use the target location for exports. Thus, the results suggest that M&A firms do not require imports of disembodied technology to improve their export performance; rather it could be used to improve domestic sales. At the same time, since the full sample includes non-M&A performing firms, the import of disembodied technology assist them in the production of quality drugs using new and improved chemical compositions which take time to boost exports.
