THE EFFECTS OF PROCEDURAL AND INFORMATIONAL JUSTICE IN THE INTEGRATION OF RELATED ACQUISITIONS

• 成果类型: Review
• 署名作者: Ellis, Kimberly M.; Reus, Taco H.; Lamont, Bruce T.
• 署名单位: State University System of Florida; Florida Atlantic University; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; State University System of Florida; Florida State University
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.728
• 发表日期: 2009
• 页码: 137-161
• 关键词: related acquisitions; integration process; procedural and informational justice

摘要

This study explores the independent and interactive effects of procedural justice and informational, justice on post-deal value creation in large, related acquisitions. Our results show that informational justice and procedural justice affect different components of value creation. Procedural justice is critical in realizing market position improvements following the integration process, while informational justice is essential in achieving market position gains during integration and financial return gains both during (aid post-integration. Indicating that the inter-relationships between different justice dimensions may be more complex than previously thought, we find that procedural justice reduces the positive effects of informational justice on financial return during the integration process, while it magnifies the effects of informational justice on the combined firms' market position during integration efforts. We explore the implications of these results for future, research on the acquisition integration process and for practicing managers engaging in large, related acquisitions. Copyright (C) 2008 John Wiley & Sons, Ltd.