Industry determinants of the merger versus alliance decision

• 成果类型: Article
• 署名作者: Yin, Xiaoli; Shanley, Mark
• 署名单位: City University of New York (CUNY) System; Baruch College (CUNY); University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
• 刊物名称: ACADEMY OF MANAGEMENT REVIEW
• ISSN/ISSBN: 0363-7425
• 发表日期: 2008
• 页码: 473-491
• 关键词: strategic alliances; ORGANIZATIONAL DYNAMICS; economic-performance; joint ventures; acquisition; diversification; capabilities; COOPERATION; INTERLOCKS; dimensions

摘要

Mergers and acquisitions (M&As) and alliances are potential alternative choices for managers. We propose that three dimensions of industry conditions are likely to be influential in such choices: (1) industry demands on firms to make significant commitment, (2) the environmental pressures for flexibility, and (3) the limitations on firm choices stemming from industry concentration and institutional conditions. We develop propositions about how differences across these three dimensions influence the choices that firms make between M&As and alliances.