期刊
STRATEGIC MANAGEMENT JOURNAL
卷 37, 期 4, 页码 763-773出版社
WILEY
DOI: 10.1002/smj.2364
关键词
M&A function; M&A capability; M&A experience; M&A performance; structural equation model
How to improve the performance of mergers & acquisitions (M&A) continues to be a confounding issue. We show that a dedicated M&A function is a new phenomenon that is positively related to a firm's M&A performance and M&A learning process. Moreover, we find that an M&A learning process (involving articulation, codification, sharing, and internalization) helps build up an M&A capability, which in turn is positively related to a firm's overall M&A performance. We use survey data from a sample drawn from the M&A activities of German firms to test our arguments. Ltd. Copyright (c) 2015 John Wiley & Sons, Ltd.
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