Performance implications of firm resource interactions in the acquisition of R&D-intensive firms

被引：193

作者：

King, David R. ^{[1
]}

Slotegraaf, Rebecca J. ^{[2
]}

Kesner, Idalene ^{[2
]}

机构：

[1] USAF, Wright Patterson AFB, OH 45433 USA

[2] Indiana Univ, Kelley Sch Business, Bloomington, IN 47405 USA

来源：

ORGANIZATION SCIENCE | 2008年 / 19卷 / 02期

关键词：

merger and acquisition; resource-based view; high technology;

D O I：

10.1287/orsc.1070.0313

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

We explore the role of resource interactions in explaining firm performance in the context of acquisitions. Although we confirm that acquisitions do not lead to higher performance on average, we do find that complementary resource profiles in target and acquiring firms are associated with abnormal returns. Specifically, we find that acquiring firm marketing resources and target firm technology resources positively reinforce ( complement) each other; meanwhile, acquiring and target firm technology resources negatively reinforce ( substitute) one another. Implications for management theory and practice are identified.

引用

页码：327 / 340

页数：14

共 141 条

[1]

Agrawal A, 2000, ADV MERG ACQUIST, V1, P7

[2] Entrepreneurship in the large corporation: A longitudinal study of how established firms create breakthrough inventions [J].