Prior Alliances with Targets and Acquisition Performance in Knowledge-Intensive Industries

References

• Akerlof G. A. The market for “lemons”: Quality for uncertainty and the market mechanism. Quart. J. Econom. (1970) 84(3):488–500Crossref, Google Scholar
• Anand B., Khanna T. Do firms learn to create value? The case of alliances. Strategic Management J. (2000a) 21(3):295–315Crossref, Google Scholar
• Anand B., Khanna T. The structure of licensing contracts. J. Indust. Econom. (2000b) 48(1):103–135Crossref, Google Scholar
• Andrade G., Mitchell M., Stafford E. New evidence and perspectives on mergers. J. Econom. Perspectives (2001) 15(2):103–120Crossref, Google Scholar
• Ariño A., de la Torre J. Learning from failure: Towards an evolutionary model of collaborative ventures. Organ. Sci. (1998) 9(3):306–325Link, Google Scholar
• Arrow K. J.The Limits of Organization (1974) (Norton, New York) Google Scholar
• Badaracco J.The Knowledge Link (1991) (Harvard Business School Press, Boston) Google Scholar
• Balakrishnan S., Koza M. P. Information asymmetry, adverse selection and joint-ventures: Theory and evidence. J. Econom. Behav. Organ. (1993) 20(1):99–117Crossref, Google Scholar
• Barney J. Firm resources and sustained competitive advantage. J. Management (1991) 17(1):99–120Crossref, Google Scholar
• Barney J. B. Returns to bidding firms in mergers and acquisitions: Reconsidering the relatedness hypothesis. Strategic Management J. (1988) 9(Summer):71–78Crossref, Google Scholar
• Bharadwaj A. A resource-based perspective on information technology capability and firm performance: An empirical investigation. MIS Quart. (2000) 24(1):169–196Crossref, Google Scholar
• Bleeke J., Ernst D.Collaborating to Compete: Using Strategic Alliances and Acquisitions in the Global Marketplace (1993) (Wiley, New York) Google Scholar
• Bower J. L. Not all M&As are alike—And that matters. Harvard Bus. Rev. (2001) 79(3):92–101Google Scholar
• Bowman E. H., Hurry D. Strategy through the option lens: An integrated view of resource investments and the incremental-choice process. Acad. Management Rev. (1993) 18(4):760–782Crossref, Google Scholar
• Bradley M., Desai A., Kim E. Synergistic gains from corporate acquisitions and their division between the stockholders of target and acquiring firms. J. Financial Econom. (1988) 20(11):987–1018Google Scholar
• Burt R., Nohria N., Eccles R. The social structure of competition. Networks and Organizations: Structure, Form and Action (1992) (Harvard University Press, Boston) 57–91Google Scholar
• Capron L., Pistre N. When do acquirers earn abnormal returns? Strategic Management J. (2002) 23(9):781–794Crossref, Google Scholar
• Capron L., Dussauge P., Mitchell W. Resource redeployment following horizontal acquisitions in Europe and North America, 1988–1992. Strategic Management J. (1998) 19:631–661Crossref, Google Scholar
• Chatterjee S., Lubatkin M. H., Schweiger D. M., Weber Y. Cultural differences and shareholder value in related mergers: Linking equity and human capital. Strategic Management J. (1992) 13(5):319–334Crossref, Google Scholar
• Chen S.-F. S., Hennart J.-F. A hostage theory of joint ventures: Why do Japanese investors choose partial over full acquisitions to enter the United States? J. Bus. Res. (2004) 57(10):1126–1134Crossref, Google Scholar
• Chi T. Trading in strategic resources: Necessary conditions, transaction cost problems, and choice of exchange structure. Strategic Management J. (1994) 15(4):271–290Crossref, Google Scholar
• Coff R. W. How buyers cope with uncertainty when acquiring firms in knowledge-intensive industries: Caveat emptor. Organ. Sci. (1999) 10(2):144–161Link, Google Scholar
• Cohen W. M., Levinthal D. A. Absorptive capacity: A new perspective on learning and innovation. Admin. Sci. Quart. (1990) 35(1):128–152Crossref, Google Scholar
• Contractor F. J., Lorange P.Cooperative Strategies in International Business: Joint Ventures and Technology Partnerships Between Firms (1988) (Lexington Books, Lexington, MA) Google Scholar
• Cook T. D., Campbell D. T.Quasi-Experimentation: Design and Analysis Issues for Field Settings (1979) (Houghton Mifflin Company, Boston) Google Scholar
• Doukas J., Travlos N. The effect of corporate multinationalism on shareholders' wealth: Evidence from international acquisitions. J. Finance (1988) 43(5):1161–1175Crossref, Google Scholar
• Dyer J. H., Singh H. The relational view: Cooperative strategy and sources of interorganizational competitive advantage. Acad. Management Rev. (1998) 23(4):660–679Crossref, Google Scholar
• Fama E., Fisher L., Jensen M., Roll R. The adjustment of stock prices to new information. Internat. Econom. Rev. (1969) 10(1):1–21Crossref, Google Scholar
• Farrell K., Whidbee D. A. The consequences of forced CEO succession for outside directors. J. Bus. (2000) 73(4):597–627Crossref, Google Scholar
• Finkelstein S., Choi Y. S., Tran S. T. Cisco Systems Inc. and the networking equipment industry. (1998) . Case study, The Amos Tuck School, Dartmouth College, Hanover, NHGoogle Scholar
• Garette B., Dussauge P. Alliances versus acquisitions: Choosing the right option. Eur. Management J. (2000) 18(1):63–69Crossref, Google Scholar
• Giliberto M. S., Varaiya N. P. The winner's curse and bidder competition in acquisitions: Evidence from failed bank auctions. J. Finance (1989) 44(1):59–75Crossref, Google Scholar
• Graebner M. E. Momentum and serendipity: How acquired leaders create value in the integration of technology firms. Strategic Management J. (2004) 25(8–9):751–777Crossref, Google Scholar
• Granovetter M. S. The strength of weak ties. Amer. J. Sociol. (1973) 78(6):1360–1380Crossref, Google Scholar
• Granovetter M. Economic action and social structure: The problem of embeddedness. Amer. J. Sociol. (1985) 91(3):481–510Crossref, Google Scholar
• Gulati R. Does familiarity breed trust? The implications of repeated ties for contractual choice in alliances. Acad. Management J. (1995) 38(1):85–112Crossref, Google Scholar
• Gulati R. Network location and learning: The influence of network resources and firm capabilities on alliance formation. Strategic Management J. (1999) 20(5):397–420Crossref, Google Scholar
• Gulati R., Gargiulo M. Where do interorganizational networks come from? Amer. J. Soc. (1999) 104(5):439–493Crossref, Google Scholar
• Gulati R., Lavie D., Singh H. The nature of partnering experience and the gains from alliances. Strategic Management J. (2009) 30(11):1213–1233Crossref, Google Scholar
• Hagedoorn J., Duysters G. External sources of innovative capabilities: The preference for strategic alliance or mergers. J. Management Stud. (2002) 39(2):177–188Crossref, Google Scholar
• Hamel G., Doz Y. L., Prahalad C. K. Collaborate with your competitors and win. Harvard Bus. Rev. (1989) 67(1):133–139Google Scholar
• Haspeslagh P., Jemison D.Managing Acquisitions: Creating Value Through Corporate Renewal (1991) (Free Press, New York) Google Scholar
• Hayward M. L. A. When do firms learn from their acquisition experience? Evidence from 1990 to 1995. Strategic Management J. (2002) 23(1):21–39Crossref, Google Scholar
• Healy P., Palepu K., Ruback R. Does corporate performance improve after mergers? J. Financial Econom. (1992) 31(2):135–175Crossref, Google Scholar
• Heckman J. Sample selection bias as a specification error. Econometrica (1979) 47(1):153–161Crossref, Google Scholar
• Hennart J.-F. A transaction cost theory of equity joint ventures. Strategic Management J. (1988) 9(4):361–374Crossref, Google Scholar
• Hennart J.-F., Reddy S. The choice between mergers/acquisitions and joint ventures: The case of Japanese investors in the United States. Strategic Management J. (1997) 18(1):1–12Crossref, Google Scholar
• Hennart J.-F., Reddy S. Digestibility and asymmetric information in the choice between acquisitions and joint ventures: Where's the beef? Strategic Management J. (2000) 21(2):191–193Crossref, Google Scholar
• Hitt M., Harrison J., Ireland R. D.Mergers and Acquisitions: A Guide to Creating Value for Stakeholders (2001) (Oxford University Press, New York) Google Scholar
• Hoang H., Rothaermel F. T. The effect of general and partner-specific alliance experience on joint R&D project performance. Acad. Management J. (2005) 48(2):332–345Crossref, Google Scholar
• Huber P. J. The behavior of maximum likelihood estimates under nonstandard conditions. Proc. Fifth Berkeley Sympos. Math. Statist. Probab. (1967) (University of California Press, Berkeley) 221–233Google Scholar
• Hymer S. H.The International Operations of National Firms: A Study of Direct Foreign Investment (1960) (MIT Press, Cambridge, MA) Google Scholar
• Inkpen A. Learning, knowledge acquisition, and strategic alliances. Eur. Management J. (1998) 16(2):223–229Crossref, Google Scholar
• Jemison D. B., Sitkin S. B. Corporate acquisitions: A process perspective. Acad. Management Rev. (1986) 11(1):145–163Crossref, Google Scholar
• Jensen M., Ruback R. The market for corporate control: The scientific evidence. J. Financial Econom. (1983) 11(1–4):5–50Crossref, Google Scholar
• Johanson J., Vahlne J. The internationalization process of the firm—A model of knowledge development and increasing foreign market commitments. J. Internat. Bus. Stud. (1977) 8(1):23–32Crossref, Google Scholar
• Kale P., Singh H., Perlmutter H. Learning and protection of proprietary assets in strategic alliances: Building relational capital. Strategic Management J. (2000) 21(3):217–237Crossref, Google Scholar
• Kalwani M., Narayandas N. Long-term manufacturer-supplier relationships: Do they pay off for supplier firms? J. Marketing (1995) 59(1):1–17Crossref, Google Scholar
• Kaplan S., Weisbach M. The success of acquisitions: Evidence from divestitures. J. Finance (1992) 47(1):107–138Crossref, Google Scholar
• Khanna T., Gulati R., Nohria N. The dynamics of learning alliances: Competition, cooperation, and relative scope. Strategic Management J. (1998) 19(3):193–210Crossref, Google Scholar
• Kimbrough M. D. The effect of conference calls on analyst and market underreaction to earnings announcements. Accounting Rev. (2005) 80(1):189–201Crossref, Google Scholar
• Kogut B. The stability of joint ventures: Reciprocity and competitive rivalry. J. Indust. Econom. (1988) 38(2):183–198Crossref, Google Scholar
• Kogut B. Joint ventures and the option to expand and acquire. Management Sci. (1991) 37(1):19–33Link, Google Scholar
• Kogut B., Zander U. Knowledge of the firm, combinative capabilities, and the replication of technology. Organ. Sci. (1992) 3(3):383–397Link, Google Scholar
• Kostova T., Zaheer S. Organizational legitimacy under conditions of complexity: The case of the multinational enterprise. Acad. Management Rev. (1999) 24(1):64–81Crossref, Google Scholar
• Krishnan H. A., Hitt M. A., Park D. Acquisition premiums, subsequent workforce reductions and postacquisition performance. J. Management Stud. (2007) 44(5):709–732Crossref, Google Scholar
• Larson A. Network dyads in entrepreneurial settings: A study of the governance of exchange relationships. Admin. Sci. Quart. (1992) 37(1):76–104Crossref, Google Scholar
• Larsson R., Bengtsson L., Henriksson K., Sparks J. The interorganizational learning dilemma: Collective knowledge development in startegic alliances. Organ. Sci. (1998) 9(3):285–305Link, Google Scholar
• Li D., Eden L., Hitt M. A., Ireland R. D. Friends, acquaintances, or strangers? Partner selection in R&D alliances. Acad. Management J. (2008) 51(2):315–334Crossref, Google Scholar
• Liebeskind J. P. Knowledge, strategy and the theory of the firm. Strategic Management J. (1996) 17(Winter):93–108Crossref, Google Scholar
• Maddala G. S.Limited-Dependent and Qualitative Variables in Econometrics (1983) (Cambridge University Press, Cambridge, UK) Crossref, Google Scholar
• Malkiel B. G. The efficient market hypothesis and its critics. J. Econom. Perspectives (2003) 17(1):59–82Crossref, Google Scholar
• Markides C., Ittner C. Shareholder benefits from corporate international diversification: Evidence from U.S. international acquisitions. J. Internat. Bus. Stud. (1994) 25(2):343–366Crossref, Google Scholar
• Marsden P. Network data and measurement. Annual Rev. Sociol. (1990) 16:435–463Crossref, Google Scholar
• Mergers & Acquisitions Snapshot analysis. Mergers & Acquisitions: Dealmaker's J. (1999) 33(5):49Google Scholar
• Monczka R., Peterson K., Handfield R., Ragatz G. Success factors in strategic supplier alliances: The buying company perspective. Decision Sci. (1998) 29(3):553–573Crossref, Google Scholar
• Mowery D. C., Oxley J. E., Silverman B. S. Strategic alliances and interfirm knowledge transfer. Strategic Management J. (1996) 17(Winter):187–221Google Scholar
• Nohria N., Garcia-Pont C. Global strategic linkages and industry structure. Strategic Management J. (1991) 12:105–124Crossref, Google Scholar
• Nonaka I. A dynamic theory of knowledge creation. Organ. Sci. (1994) 5(1):14–37Link, Google Scholar
• Nonaka I., Takeuchi H.The Knowledge Creating Company (1995) (Oxford University Press, New York) Google Scholar
• Nonaka I., von Krogh G. Tacit knowledge and knowledge conversion: Controversy and advancement in organizational knowledge creation theory. Organ. Sci. (2009) 20(3):635–652Link, Google Scholar
• Polanyi M.The Tacit Dimension (1963) (Peter Smith, Gloucester, MA) Google Scholar
• Porrini P. Can a previous alliance between an acquirer and a target affect acquisition performance? J. Management (2004) 30(4):545–562Crossref, Google Scholar
• Powell W. Neither market nor hierarchy: Network forms of organization. Res. Organ. Behav. (1990) 12:295–336Google Scholar
• Puranam P., Singh H., Chaudhuri S. Integrating acquired capabilities: when structural integration is (un)necessary. Organ. Sci. (2009) 20(2):313–328Link, Google Scholar
• Puranam P., Singh H., Zollo M. Organizing for innovation: Managing the coordination-autonomy dilemma in technology acquisitions. Acad. Management J. (2006) 49(2):263–280Crossref, Google Scholar
• Robson M. J., Katsikeas C. S., Bello D. C. Drivers and performance outcomes of trust in international strategic alliances: The role of organizational complexity. Organ. Sci. (2008) 19(4):647–665Link, Google Scholar
• Rowley T. B., Behrens D., Krackhardt D. Redundant governance structures: An analysis of structural and relational embeddedness in the steel and semiconductor industries. Strategic Management J. (2000) 21(3):369–386Crossref, Google Scholar
• Sarkar M., Aulakh P. S., Madhok A. Process capabilities and value generation in alliance portfolios. Organ. Sci. (2009) 20(3):583–600Link, Google Scholar
• Seth A. Sources of value creation in acquistions: An empirical investigation. Strategic Management J. (1990) 11(6):431–446Crossref, Google Scholar
• Singh H., Harianto F. Manager-board relationships, takeover risk, and the adoption of golden parachutes. Acad. Management J. (1989) 32(1):7–24Crossref, Google Scholar
• Singh H., Montgomery C. A. Corporate acquisition strategies and economic performance. Strategic Management J. (1987) 8(4):377–386Crossref, Google Scholar
• Sirower M.The Synergy Trap: How Companies Lose the Acquisition Game (1997) (Free Press, New York) Google Scholar
• Szulanski G. Exploring internal stickiness: Impediments to the transfer of best practices within the firm. Strategic Management J. (1996) 17(Winter):27–43Crossref, Google Scholar
• Teece D. J. Economics of scope and the scope of the enterprise. J. Econom. Behav. Organ. (1980) 1:223–369Crossref, Google Scholar
• Uhlenbruck K., Hitt M. A., Semadeni M. Market value effects of acquisitions involving Internet firms: A resource-based analysis. Strategic Management J. (2006) 27(10):899–913Crossref, Google Scholar
• Uzzi B. Embeddedness in the making of financial capital: How social relations and network benefit firms seeking financing. Amer. Sociol. Rev. (1999) 64(4):481–505Crossref, Google Scholar
• Vanhaverbeke W., Duysters G., Noorderhaven N. External technology sourcing through alliances or acquisitions: An analysis of the application specific integrated circuits industry. Organ. Sci. (2002) 13(6):714–733Link, Google Scholar
• von Hippel E.The Sources of Innovation (1988) (Oxford University Press, New York) Google Scholar
• Walsh J. P. Top management turnover following mergers and acquisitions. Strategic Management J. (1988) 9(2):173–183Crossref, Google Scholar
• Williamson O.The Economic Institutions of Capitalism (1985) (Free Press, New York) Google Scholar
• Zaheer S. Overcoming the liability of foreignness. Acad. Management J. (1995) 38(2):41–63Crossref, Google Scholar
• Zaheer A., McEvily B., Perrone V. Does trust matter? Exploring the effects of interorganizational and interpersonal trust on performance. Organ. Sci. (1998) 9(2):1–20Link, Google Scholar
• Zollo M., Reuer J. J., Singh H. Interorganizational routines and performance in strategic alliances. Organ. Sci. (2002) 13(3):339–352Link, Google Scholar