Abstract
MASON C. M. and HARRISON R. T. (2006) After the exit: acquisitions, entrepreneurial recycling and regional economic development, Regional Studies 40, 55–73. Most studies of the impact of mergers and acquisitions suggest they have a detrimental impact on economic development in peripheral regions over the longer-term. However, such assessments fail to consider the post-acquisition behaviour of the cashed-out entrepreneurs. It is argued here that acquisition triggers a process of ‘entrepreneurial recycling’ in which the entrepreneurs use their newly acquired wealth, allied to the experience they have accumulated, to engage in other entrepreneurial activities, notably starting new business ventures and investing in other businesses as business angels or venture capitalists. Case studies of five Scottish technology-based firms that were acquired by non-UK companies illustrate this process. When entrepreneurial recycling is taken into account, the overall impact of acquisition on regional economic development ...
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