The influence of acquisition experience and performance on acquisition behavior: Evidence from the US commercial banking industry

• 成果类型: Article
• 署名作者: Haleblian, JJ; Kim, JYJ; Rajagopalan, N
• 署名单位: University of California System; University of California Riverside; University of Southern California
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• 发表日期: 2006
• 页码: 357-370
• 关键词: ORGANIZATIONAL-CHANGE; INTERORGANIZATIONAL IMITATION; corporate performance; STRATEGIC CHANGE; UNITED-STATES; momentum; MODEL; FIRMS; INTERLOCKS; governance

摘要

We draw upon theories of organizational learning to examine acquisition likelihood in a sample of banking industry acquisitions from 1988 through 2001. Although research on organizational learning suggests that routines arising both from experience and from performance feedback guide organizational learning, the combined effect of these two sources of learning has rarely been examined. Findings are consistent with our theoretical predictions: (1) prior acquisition experience, (2) recent acquisition performance, and (3) the interaction between acquisition experience and recent acquisition performance are all positively related to the likelihood of subsequent acquisition.