haku: @indexterm Labour economics / yhteensä: 41
viite: 7 / 41
| Tekijä: | Krishnan, H.A. Hitt, M.A. Park, D. |
| Otsikko: | Acquisition premiums, subsequent workforce reductions and post-acquisition performance |
| Lehti: | Journal of Management Studies
2007 : JUL, VOL. 44:5, p. 709-732 |
| Asiasana: | management human resource management human capital employees mergers competitive advantage labour economics companies USA |
| Kieli: | eng |
| Tiivistelmä: | It is proposed by this study that paying acquisition (hereafter as: acq-n./acq-ns.) premiums (here as: prm./prms.) leads to workforce reductions (as: wf-redcs.) in the merged firm, which in turn results in poorer post-acq-n. performance (as: perf). This issue is important to scholars and practising managers given the diffusion and importance of knowledge and human capital to competitive advantage. Based on a sample of 174 major related acq-ns. during 1992-1998, a positive relationship is shown btw. the prm. paid for an acq-n. subsequent wf-redcs., controlling for a number of alternative explanations. Additionally, wf-redcs. mediate the negative relationship btw. prms. and post-acq-n. perf. It is suggested that the effects of wf-redcs. following large prms. paid for the acquired firm can be harmful or damaging to the interests of the organization. |
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