摘要:

AbstractThis research investigates the effects of merger and acquisition negotiations on subsequent target company top management turnover. Three attributes of the companies and seven attributes of the merger and acquisition transactions are examined. The results indicate that the primary impact of negotiations is evident in the fourth year after a settlement date. When a buyer approaches an unrelated company that has been subject to previous takeover interest with a merger proposal, and an agreement is reached, the target'S management team is likely to experience abnormally high turnover 4 years later. Additional research ideas are suggested to help explain the sizeable turnover rates in the 3 years immediately following a merger or acquisition.

ISSN:0143-2095    

DOI:10.1002/smj.4250100402

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

摘要:

AbstractThis paper argues that the internal structure in complex, multi‐unit organizations such as a multinational corporation (MNC) is not homogeneous throughout the organization, but is systematically differentiated so as to ‘fit’ the different environmental and resource contingencies faced by the different national subsidiaries. Based on a survey of 66 of the largest European and North American MNCs, yielding data on 618 cases of headquarters‐subsidiary relations, it is shown that the different contextual conditions faced by the different subsidiaries of the MNC can be meaningfully classified into four generic situations. Furthermore, for each of these situations the exchange relation between the MNC headquarters and the subsidiary is characterized by a ‘fit’ governance structure consisting of a different combination of structural elements such as centralization of authority, formalization of rules and systems, and normative integration of members. Following the existing literature, these ‘fit’ structures are labeled in this paper as hierarchical, federative, clan and integrative. The multinational is then described as an internally differentiated organization in which each headquarters‐subsidiary link corresponds to one or the other of these adm

ISSN:0143-2095    

DOI:10.1002/smj.4250100403

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

摘要:

AbstractThe present study extends previous research efforts and examines relationships between commonly discussed strategic acquisition factors and long‐term financial performance measures of acquiring firms. The factors of interest include relative size, previous acquisition experience, organizational age, industry commonality, contested versus uncontested acquisitions, and percentage of stock acquired. The financial performance measures include both accounting and capital market data for the 4‐year period preceding acquisition activity and the 4‐year period following such activity. The study presents bivariate and multivariate analyses for 42 industrial manufacturing firms that engaged in the tender offer form of acquisition. The findings indicate that, on the average, post‐acquisition financial performance improved significantly for organizations that had previous acquisition experience, acquired a higher percentage of a target, or were older. Post‐acquisition performance decreased significantly for acquiring firms when target firms contested an ac

ISSN:0143-2095    

DOI:10.1002/smj.4250100404

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

摘要:

AbstractThis paper describes the first empirical test of Hrebiniak and Joyce'S innovative model of business‐environment relations. Virtually all the literature prior to their Administrative Science Quarterly article (1985) assumes a zero‐sum relationship between managerial choice and environmental determinism. In the Hrebiniak and Joyce framework the two are orthogonal, and environments where management and environment are both weak or both powerful are possible. We first look for evidence of Hrebiniak and Joyce'S environment typology in 52 manufacturing industries previously specified by Dess and Beard (1984). Next, we test their propositions of strategy‐environment fit by classifying 146 firms into strategic groups, then evaluating each group in each environment. Our tests provide partial support for Hrebiniak and Joyce'S environment typology and for their contingent strategies. However, frequencies of firm location among the environments were highly skewed. These results suggest that strategy‐environment fit may not be as critical as market‐selection in the competitive success

ISSN:0143-2095    

DOI:10.1002/smj.4250100405

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

摘要:

AbstractThis study tests the suppositions that (1) industries differ in their key success factors, and (2) firms whose strengths match those factors will perform well. A typology of mature industrial‐product industries, classified according to their core technology and transaction complexity, allows very strong prediction of key success factors in differing contexts. The ratings of key success factors by expert panels in six industries were in extremely close agreement with the hypotheses. Another set of expert panels in the six industries provided additional data which strongly indicated that firm profitability depends on having strengths that match the industry'S particular key success factor

ISSN:0143-2095    

DOI:10.1002/smj.4250100406

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

摘要:

AbstractThis article augments, as well as takes issue with, the recent review by Ghoshal on international competition. The central question is what changes strategically when a firm moves from domestic to overseas competition. In analyzing this question, it is shown that there exists a neglected line of relevant research by two schools of thought: the Cambridge (Massachusetts) axis and internalization theory. The recent focus of research is described as understanding the multinational corporation as a network competing on its flexibility and the transfer of acquired capabilities across borders.

ISSN:0143-2095    

DOI:10.1002/smj.4250100407

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

摘要:

AbstractThis note is a follow‐up on one published in 1987. A sample of tenured business policy scholars, with significant track records in publishing, rated key management journals with respect to their appropriateness as outlets for scholarly research in the business policy field. The results of the survey are reporte

ISSN:0143-2095    

DOI:10.1002/smj.4250100408

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

ISSN:0143-2095    

DOI:10.1002/smj.4250100409

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

ISSN:0143-2095    

DOI:10.1002/smj.4250100410

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

ISSN:0143-2095    

DOI:10.1002/smj.4250100401

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY