haku: @author Singh, H. / yhteensä: 27
viite: 5 / 27
| Tekijä: | Zollo, M. Singh, H. |
| Otsikko: | Deliberate learning in corporate acquisitions: post-acquisition strategies and integration capability in U.S. bank mergers |
| Lehti: | Strategic Management Journal
2004 : DEC, VOL 25:13, p. 1233-1256 |
| Asiasana: | Banking Mergers Performance appraisal Strategic management Models USA |
| Kieli: | eng |
| Tiivistelmä: | The paper introduces a knowledge-based view of corporate acquisitions (hereafter as: acqs.) and tests the post-acquisition (here as: p-acq.) consequences on performance of integration (here as: integr.) decisions and capability-building mechanisms. In the model, the acquiring firm (here as: acq-firm.) decides both how much to integrate the acq-firm. and the extent to which it replaces this firm's top management team. It can also learn to manage the p-acq. integr. process by tacitly accumulating acq. experience and explicitly codifying it in manuals, systems, and other acq.-specific tools. Using a sample of 228 acqs. in the U.S. banking industry, it is found that knowledge codification strongly and positively influences acq. performance, while experience accumulation does not. Furthermore, increasing levels of p-acq. integr. strengthen the positive effect of codification. Finally, the level of integr. btw. the two merged firms significantly enhances performance, while replacing top managers in the acq-firm. negatively impacts performance, all else being equal. |
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