000			01678nam a22002297a 4500
999			_c52453 _d52453
003			OSt
005			20190820125542.0
008			190820b ||||| |||| 00| 0 eng d
100			_aGong, Yan _934251
245			_aDo Firms Learn More From Small or Big Successes and Failures? A Test of the Outcome-Based Feedback Learning Perspective
300			_a1034-1056 p.
520			_aIt has been recognized that previous experiences can provide different types of feedback. However, it has not been systematically explored why firms are more likely to learn effectively from certain types of experience than others. From a feedback-based learning perspective, we argue that it is useful not only to focus on feedback valence (success or failure experiences) but also to examine feedback saliency (the magnitude of the experience’s influence). Based on a sample of acquisitions by U.S. firms, our results indicate that a firm’s success experience drives up the premium that it pays for a subsequent acquisition, whereas a failure experience reduces this subsequent premium. Moreover, we find that the magnitude of the effects of the four types of experiences—small failure, big failure, small success, and big success—does not follow a symmetrical pattern of inverse effects.
653			_aacquisition premium
653			_aAcquisition experience
653			_aFeedback valence
653			_aFeedback saliency
653			_aFeedback-based learning
700			_aZhang, Yu _934252
700			_aXia, Jun _934253
773	0		_029017 _974521 _aDEBORAH E. RUPP _dWEST LAFAYETTE SAGE PUBLICATION 2012 _o55510280 _tJOURNAL OF MANAGEMENT _x 0149-2063
942			_2ddc _cJA-ARTICLE