Learning through acquisitions

• 成果类型: Review
• 署名作者: Vermeulen, F; Barkema, H
• 署名单位: University of London; London Business School; Tilburg University
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/3069364
• 发表日期: 2001
• 页码: 457-476
• 关键词: organizational culture; TOP MANAGEMENT; corporate diversification; absorptive-capacity; JAPANESE INVESTORS; performance; strategy; mergers; MARKET; mode

摘要

Research on acquisitions has typically focused on acquisitions per se, examining issues such as performance and implementation problems. This study moves beyond that perspective and studies the influence on a firm's later expansions. We argue that exploitation of a firm's knowledge base through greenfields eventually makes a firm simple and inert. In contrast, acquisitions may broaden a firm's knowledge base and decrease inertia, enhancing the viability of its later ventures. Over time, firms strike a balance between the use of greenfields and acquisitions. Various implications of this theory-tested with survival analysis and logit models-were strongly corroborated.