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Composition of Acquisition Sequences: The Effects of Different Types of Acquisition Patterns on Acquirer Performance

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Reference

Laamanen, T., Zimmermann, A., & Bian, D. (2019). Composition of Acquisition Sequences: The Effects of Different Types of Acquisition Patterns on Acquirer Performance. Paper presented at the 39th Annual International Conference of the Strategic Management Society, Minneapolis.

Publication type

Presentation at Conference

Abstract

While research has shown that variability in the rhythm of an acquisition sequence is  negatively related to acquirer performance, we do not know whether this also applies to  variability in the types of (explorative and exploitative) acquisitions in such a sequence.  Based on a panel study of 153 active acquirers over 25 years, we corroborate prior research,  which has shown that combining exploration and exploitation within an individual acquisition  is not suited to improve acquirer performance. However, we also found evidence that other  compositions of explorative and exploitative acquisition sequences are related either  positively or in a u-shaped manner to acquirer performance. As a whole, our findings  contribute to an improved understanding on the effectiveness of acquisition sequences to  contribute to both exploration and exploitation. 

Research

Tackling the Complexity of Managing Paradoxes
FFF-Förderprojekt, May 2018 until April 2020

Companies and organizations in general are facing an ever growing set of expectations from their different stakeholders. They are supposed to be efficient and profitable, they must be innovative and ... more ...

Persons

Organizational Units

  • Institute for Entrepreneurship
  • Chair of Entrepreneurship and Strategic Management