Strategic Content Designs of Acquisition Streams : Balancing Explorative and Exploitative Acquisitions

Item Type Conference or Workshop Item (Paper)
Abstract

In recent years, researchers have become increasingly interested in serial acquirers and the performance implications of their acquisition sequences. While prior research has focused mostly on the externally observable structural characteristics of these sequences, we make a finer-grained distinction between explorative and exploitative acquisition motives and examine how the balancing of these strategic motives affects acquirer performance. Based on a sample of 21.264 acquisitions of the 172 largest public firms during 21 years (1990 - 2010), we find that the temporal differentiation of explorative and exploitative acquisition motives has a positive effect on acquirer performance, while their simultaneous differentiation has an inverted U-shaped performance effect. We contribute to the existing theory by putting forward a novel concept - the strategic content design of acquisition streams - and by providing novel insights on the performance consequences of acquisition streams.

Authors Luger, Johannes; Zimmermann, Alexander & Laamanen, Tomi
Language English
Keywords Acquisitions; Acquisition streams; Exploration Exploitation; Paradox
Subjects business studies
HSG Classification contribution to scientific community
Refereed Yes
Date 9 August 2013
Publisher Academy of Management
Place of Publication New York
Title of Book Capitalism in Question
Event Title 73rd Academy of Management Annual Meeting (AOM) 2013 "Capitalism in Question"
Event Location Orlando, FL
Event Dates 09.-13.08.2013
Depositing User Prof. Dr. Johannes Luger
Date Deposited 05 Apr 2013 16:33
Last Modified 26 Jan 2018 12:17
URI: https://www.alexandria.unisg.ch/publications/221876

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Luger, Johannes; Zimmermann, Alexander & Laamanen, Tomi: Strategic Content Designs of Acquisition Streams : Balancing Explorative and Exploitative Acquisitions. 2013. - 73rd Academy of Management Annual Meeting (AOM) 2013 "Capitalism in Question". - Orlando, FL.

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https://www.alexandria.unisg.ch/id/eprint/221876
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