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Contribution Details

Type Journal Article
Scope Discipline-based scholarship
Title Performance of serial acquirers: toward an acquisition program perspective
Organization Unit
Authors
  • Thomas Keil
  • Tomi Laamanen
Item Subtype Original Work
Refereed Yes
Status Published in final form
Language
  • English
Journal Title Strategic Management Journal
Publisher Wiley-Blackwell
Geographical Reach international
ISSN 0143-2095
Volume 29
Number 6
Page Range 663 - 672
Date 2008
Abstract Text Based on an analysis of the most active acquirers in seven industry sectors in the United States in the 1990s, we find that both a high rate of acquisitions and a high variability of the rate are negatively related to performance. An acquirer's size, the scope of its acquisition program, and acquisition experience moderate the relationship by weakening the negative effects. Our findings contribute to an improved understanding of acquisition capabilities and program-level acquisition performance, thereby adding to an emerging stream of research that is building an acquisition program perspective.
Digital Object Identifier 10.1002/smj.670
Other Identification Number merlin-id:8137
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Keywords Strategy and Management, Business and International Management