Unfinished Business: Nested Acquisitions, Managerial Capacity, and Firm Performance (Record no. 52469)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 02071nam a2200229 4500 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | OSt |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20190821161133.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 190821b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Zorn, Michelle L. |
| 9 (RLIN) | 34291 |
| 245 ## - TITLE STATEMENT | |
| Title | Unfinished Business: Nested Acquisitions, Managerial Capacity, and Firm Performance |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 1488-1516 p. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | We highlight a largely unstudied phenomenon that affects postacquisition performance: nested acquisitions. Nested acquisitions occur when a firm acquires a target firm that has itself recently acquired another firm. In our study of publicly traded U.S. acquirers and targets from 2000 to 2014, we theorize that nested acquirers face unique integration difficulties that reduce acquirer postacquisition performance. Specifically, we build on Penrosian logic and theorize that nested acquisitions tax the managerial capacity of the acquiring and acquired firms more than nonnested ones and that, as nested acquisition complexity increases due to variance within the embedded nested targets (i.e., greater number, more recent, less related, and larger nested targets), the drain on managerial capacity also increases. Ultimately, these challenges increase the likelihood of reduced postacquisition performance. Given these suggested difficulties, we theorize that retaining focal target managers can aid the acquiring firm and thereby help to reduce negative performance outcomes. In our unique sample of matched-pair firms, we find that nested acquisitions are associated with lower postacquisition performance but that retaining target firm managers can reduce this effect. |
| 653 ## - INDEX TERM--UNCONTROLLED | |
| Uncontrolled term | Mergers and acquisitions |
| Uncontrolled term | Postmerger integration |
| Uncontrolled term | Resource-based theory |
| Uncontrolled term | Top management teams/upper echelons |
| 700 ## - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Sexton, Jennifer C. |
| 9 (RLIN) | 1618 |
| Personal name | Bhussar, Manjot S. |
| 9 (RLIN) | 34292 |
| Personal name | Lamont, Bruce T. |
| 9 (RLIN) | 34293 |
| 773 0# - HOST ITEM ENTRY | |
| Host Biblionumber | 29017 |
| Host Itemnumber | 74854 |
| Main entry heading | DEBORAH E. RUPP |
| Place, publisher, and date of publication | WEST LAFAYETTE SAGE PUBLICATION 2012 |
| Other item identifier | 55510430 |
| Title | JOURNAL OF MANAGEMENT |
| International Standard Serial Number | 0149-2063 |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Source of classification or shelving scheme | Dewey Decimal Classification |
| Koha item type | Journal Article |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Home library | Current library | Date acquired | Total Checkouts | Full call number | Barcode | Date last seen | Price effective from |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dewey Decimal Classification | Main Library | Main Library | 21/08/2019 | Vol 45, Issue 4/ 55510430JA7 | 55510430JA7 | 21/08/2019 | 21/08/2019 |