Journal ArticleDOI
Alliance or acquisition? A dyadic perspective on interfirm resource combinations
Lihua Wang,Edward J. Zajac +1 more
TLDR
In this article, a dyadic perspective is proposed to examine how and why configurations of two firms' resources and capabilities affect the costs and benefits associated with each governance structure, and the likelihood of a pair of firms forming an alliance vs. engaging in an acquisition.Abstract:
For firms seeking to strategically combine their resources with those of other firms, two popular alternative governance structures emerge: alliance or acquisition. In this paper, we propose a dyadic perspective to examine how and why configurations of two firms' resources and capabilities affect the costs and benefits associated with each governance structure. More specifically, we posit that factors such as (1) the resource similarity and complementarity between a pair of firms, (2) the combined relational capabilities of a pair of firms, and (3) the partner-specific knowledge between a pair of firms will affect the likelihood of observing that pair of firms forming an alliance vs. engaging in an acquisition. We test and find support for our hypotheses using extensive longitudinal data from a sample of the largest firms in the United States from 1991 to 2000. Copyright © 2007 John Wiley & Sons, Ltd.read more
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Journal ArticleDOI
Taking Stock of What We Know About Mergers and Acquisitions: A Review and Research Agenda
TL;DR: The authors developed a framework to organize and review recent empirical findings from management, economics, and finance in which interest in acquisition behavior is high but also from other areas that have tangentially explored acquisition activity such as accounting and sociology.
Journal ArticleDOI
Antecedents of M&A success: The role of strategic complementarity, cultural fit, and degree and speed of integration
Florian Bauer,Kurt Matzler +1 more
TL;DR: The theoretical framework was tested empirically across a sample of 106 SME transactions in the machinery, electronic, and logistic industries in the German-speaking part of Central Europe and supported the demand for an integrative perspective and theory on M&A.
Journal ArticleDOI
Understanding Institutional-based Trust Building Processes in Inter-organizational Relationships
TL;DR: In this paper, the role of institutions in the development of trust in relationships between organizations is discussed and four situations where the influence of institutions can be particularly conducive to building trust are examined.
Journal ArticleDOI
Synthesizing and Extending Resource Dependence Theory A Meta-Analysis
TL;DR: In this article, the authors consolidate 157 tests of RDT and corroborate its main predictions: organizations respond to resource dependencies by forming interorganizational arrangements like interlocks, alliances, joint ventures, in-sourcing arrangements, and mergers and acquisitions.
Journal ArticleDOI
Alliance partners and firm performance: Resource complementarity and status association
TL;DR: In this paper, the authors explored the performance consequences of firms' alliance partner selection by examining the interactions of resource complementarity and institutional associations between the firm and its partners, and suggested that it is necessary to consider both societal and network status as they can have distinct effects under certain conditions.
References
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Firm Resources and Sustained Competitive Advantage
TL;DR: In this article, the authors examined the link between firm resources and sustained competitive advantage and analyzed the potential of several firm resources for generating sustained competitive advantages, including value, rareness, imitability, and substitutability.
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Absorptive capacity: a new perspective on learning and innovation
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Dynamic capabilities and strategic management
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Economic Action and Social Structure: The Problem of Embeddedness
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Posted Content
An Evolutionary Theory of Economic Change
TL;DR: In this paper, the authors developed an evolutionary theory of the capabilities and behavior of business firms operating in a market environment, including both general discussion and the manipulation of specific simulation models consistent with that theory.
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